Roz1
Level 3

If an ERC credit is for a payroll quarter of year 2020; we are supposed to go back to that year and file amended tax returns as we have to deduct the amount of the credit from the payroll tax expense.  For an S Corp and LLC's we would have to also amend personal returns.

Is it possible to input the deduction in the year the credit is received?  Is this taking a high risk w/IRS?

 

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