By Ben GlickmanShares of Asure Software sank Friday after the Internal Revenue Service said it wouldn't process certain pandemic-era tax claims until at least 2024. The stock was down 15% to $9.60 in midday trading. The IRS said Thursday that it had received fraudulent and overstated claims for the federal employee retention credit and would pause processing so that it could examine requests with more scrutiny. Asure, a human capital management software company, said Friday that it supported the IRS efforts and the pausing of ERC requests wouldn't significantly affect its business. The company said it doesn't plan to update its guidance for the fiscal year given the IRS's position.

Source: Wall Street Journal September 16, 2023 09:12 UTC