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In anticipation of the upcoming May 15th deadline, we've compiled a list of the most common questions here.
In anticipation of the upcoming May 15th deadline, we've compiled a list of the most common questions here.
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- Does an amended income tax return have to be prepared for both cash basis and accrual basis clients when retroactively claiming the ERC?
Does an amended income tax return have to be prepared for both cash basis and accrual basis clients when retroactively claiming the ERC?
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Blackcat
Level 1
02-10-2022
10:42 PM
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3 Comments 3
Blackcat
Level 1
02-12-2022
03:59 PM
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Yes, amended 941 returns were prepared in 2021 for 2020. So, it doesn't matter whether they are cash or accrual basis? The returns must be amended on both for retroactively claiming ERC. Please verify that both basis of accounting are required to amend returns. Thank you.
sjrcpa
Level 15
02-12-2022
04:19 PM
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Yes amend 2020 whether cash or accrual.
Ex-AllStar
