Small-business owners may have more time to file for the lucrative Employee Retention Credit than previously thought, but the IRS isn't saying for sure.initially advised their clients that the ERC deadlines would be a series of staggered, quarterly deadlines
By and large, that guidance is now shifting, with many firms saying businesses actually have until April 15, 2024, to get their ERC applications in for any quarter in 2020.. While business owners must “correct” their 941-X forms within three years to fix issues generally or claim the ERC credit, all quarterly forms for 941-X that are filed during any calendar year are considered filed on April 15 of the following year, as long as they are filed before that date.
Professional service providers say part of the confusion stems from the fact that the IRS, while issuing warnings about ERC scams, hasn't come out and clarified an exact ERC deadline or corrected widespread misinterpretations.Jeremy Hartle He said firms are going to need all the time they can get as they continue wading through application after application.
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: JaxBizJournal - 🏆 599. / 51 Read more »
Source: JaxBizJournal - 🏆 599. / 51 Read more »
Source: JaxBizJournal - 🏆 599. / 51 Read more »
Source: JaxBizJournal - 🏆 599. / 51 Read more »
Source: JaxBizJournal - 🏆 599. / 51 Read more »
Source: JaxBizJournal - 🏆 599. / 51 Read more »