Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
With the 7/31 Form 5500 deadline nearing, we've put together a list of resources to help you during this deadline period.
With the 7/31 Form 5500 deadline nearing, we've put together a list of resources to help you during this deadline period.
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Lacerte Tax
- :
- Lacerte Tax Discussions
- :
- Re: Employee Retention Credit for Corporation tax returns 1120-S
Employee Retention Credit for Corporation tax returns 1120-S
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
srbledy
Level 1
03-10-2022
12:10 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
We applied for the Employee Retention Credit in 2020 but did not receive the funds till 2022.
Do we need to do an amended return for 2020 to show wages deducted or deduct these wages from 2021 return?
Labels
2 Comments 2
qbteachmt
Level 15
03-10-2022
12:26 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Here is the article for what would have been done for 2020, in anticipation of the Banking. Because you have something related to Payroll for 2020, not for the Banking (refund activity). ERC is Payroll-related. It's not the same as PPP forgiveness, which had to be applied for and then anticipated; and even then, the IRS included "Forgiven or expect to be Forgiven" so that it could be included on the tax return for the year it applies to, not the year of the Banking.
What was done in 2020? Is this on the 941 and/or 7200 for 2020, or was it overlooked?
*******************************
"Level Up" is a gaming function, not a real life function.
"Level Up" is a gaming function, not a real life function.
qbteachmt
Level 15
03-10-2022
12:26 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Oops, the link:
*******************************
"Level Up" is a gaming function, not a real life function.
"Level Up" is a gaming function, not a real life function.
