Employee Retention Credits Can Be Claimed on Amended Returns

May 14, 2022, 4:30 PM

Taxpayers can still file for the employee retention credit in amended returns, an IRS attorney said on Saturday.

The Covid-19 tax perk that kept employees on payroll ended in September—three months sooner than planned—adding challenges for small businesses. Ending the credit early was projected to save about $8.2 billion to help pay for infrastructure legislation. IRS attorney Danchai Mekadenaumporn said businesses are still eligible to apply through an amended return.

  • “Taxpayers will be able …

Source link

Leave a Comment

Your email address will not be published.