asbtaxguy
Level 1
 
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TaxGuyBill
Level 15

Amend 2021.

abctax55
Level 15

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

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. 

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