michele
Level 7

client brings in information. he got ERC money. We did a final  S Corp return in 2022 he sold the business. The money was for 2020. Is  the 2020 going to have to be amended. He also paid someone for getting him the ERC money so he has those expenses that was charged against the ERC  The expenses  really to me are 2023 expenses but they go against the ERC. He is also receiving the final payment in 2024 so that would mean amending it twice.  I wish I could close my eyes and just show it as other income on his personal return. It is not going to change his tax bracket. 

 

thx

Michele

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