James214
Level 1
04-05-2022
03:27 PM
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My client received money back for the 941 ERTC tax credits. They deposited the money and used it to make payroll. On the 1120S tax return where do I show this money?
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sjrcpa
Level 15
04-05-2022
04:23 PM
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You reduce the wages expense.
But, if this credit was for 2020 wages, you have to go back and amend the 2020 return and reduce 2020 wage expense.
The more I know the more I don’t know.
