aeh-cpa
Level 3
02-11-2021
09:11 AM
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I agree that the wage deduction is supposed to be reduced. I believe the problem I'm having might be due to the fact that the client received a refund of the credit amount. Should I enter the deposit as a reduction of wages and ignore ERC input field or enter the deposit as other income?
Also, how are you handling any ERC claimed on 4th quarter Form 941? I have clients that did not reduce payroll tax deposits and instead will be getting a refund for the ERC in 2021. Should this be recorded on the books as of 12/31/20?