erc credit

Forum|Forum|2 years ago
December 30, 2023
1 reply
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Can I file for the business ERC through Turbo Tax? And if so, how?

DoninGA

Level 15

The Employee Retention Credit was only available for tax years 2020 and 2021. If your business was eligible for the ERC and you did not claim the credit on either your 2020 or 2021 tax returns you will have to amend those returns.

See this TurboTax support FAQ for amending a tax return - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-change-correct-return-already-filed/L4VjJ9BA2_US_en_US?uid=ld1n99kr

kerstoval-gmail-

Level 2

This is what was on the radio and all over the internet: Are your Self Employed? Do you own a single member LLC or a 1099 Sub Contractor? I so, you may be eligible for up to $32,220 in tax credits from 2020 & 2021

I think I am eligible, but would rather file amended returns myself and not lose 20% of the credit.

Critter-3

Level 15

Careful of those "announcements" as many of them are from scammers or dishonest pushers of this credit... never pay an upfront fee to get the paperwork completed since few people actually qualify.