qbteachmt
Level 15
04-12-2022
05:39 PM
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"Are we supposed to divide this credit between 2020 and 2021"
It's Quarterly. The 941X is for specific quarters.
Yes, that will change the payroll expense for the 1120S for each cycle. This is not like "forgiven" loan accruals. This is Payroll Tax credits against wage expenses.
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Don't yell at us; we're volunteers
Don't yell at us; we're volunteers