asbtaxguy
Level 1
05-21-2023
01:11 PM
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TaxGuyBill
Level 15
05-21-2023
01:20 PM
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Amend 2021.
abctax55
Level 15
05-21-2023
06:31 PM
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And, amend the shareholders personal returns. Or just issue the corrected K-1s....
"*******Tax software is no substitute for a professional tax preparer*******
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KristiC
Level 1
05-24-2023
03:33 PM
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Yes, you have to amend 2021 reducing the deduction for wages paid by the amount of the Employee Retention Credit. This will change the K-1s.
You can pick up any interest the IRS pays on top of the tax refund in the current year.