Roz1
Level 3
08-31-2023
03:37 PM
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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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