2020 ERC - Amend or Not
Posted: 6-Jul-2022 7:25am
I have heard of several CPE instructors (through participants) that are saying that they do not think it is necessary to go back and amend ERC 941's if they were prepared prior to Notice 2021-49 coming out. For example, if I prepared a 941X in order to take the ERC for a quarter in 2020 and received a credit for a shareholder with a living relative (prior to issuance of the notice), it is not necessary to amend and pay back the money related to the credit for the shareholder wages.
Anyone know what they are basing this on? Anyone on here not amending?
Anyone know what they are basing this on? Anyone on here not amending?