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Whether to amend Illinois 1040 for ERC
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Locke
Level 1
10-20-2023
02:51 PM
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Am I getting this right?
ERC credits require amending the 1120-S, but Illinois permits a Schedule M deduction to reclaim the disallowed payroll from the federal resulting in no change to tax position for the Illinois 1120-S or the Illinois 1040 that it flows to.
Therefore, is there no need to file amended Illinois 1040? What about amended Illinois 1120-S? I have seen work from other offices where they did not do this.
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