Is there any possibility the wage reduction can be reported in the year the credit is received rather than the year the wages were paid? I prepared a Form 1120S for 2020 that is on the cash basis and took the ERC on the fourth qtr., 2020 Form 941. I did not reduce the wage expense on the Form 1120S for 2020 as the ERC was received by the taxpayer in 2021 and they are on the cash basis. It seems as if I have to amend the 2020 1120S in order to reduce the wage expense even though the ERC wasn't received until 2021. I originally was going to reduce the wage expense in 2021. Is there anyone who knows with any authority that I don't need to amend the 1120S since the taxpayer is on the cash basis? I think I'm out of luck.