Recent Posts

Editors Picks

Are Self-Employed Eligible for Employee Retention Credit?

Are Self-Employed Eligible for Employee Retention Credit?

In the wake of the coronavirus pandemic, the Department of the Treasury and the Internal Revenue Service (IRS)...

Amending Tax Return for Employee Retention Credit

Amending Tax Return for Employee Retention Credit

Do you need to amend your tax return to apply for the Employee Retention Credit (ERC)? The answer is yes. If the...

Claiming Employee Retention Credit on Form 941

Claiming Employee Retention Credit on Form 941

Form 941 is the form used by employers to declare Social Security and Medicare income and taxes withheld from employee...

Are Owners Eligible for Employee Retention Credit?

Are Owners Eligible for Employee Retention Credit?

The owners of an LLC cannot apply for the employee retention credit (ERC) because their salaries come from the company's...

How to Record ERTC for Profit Organizations

How to Record ERTC for Profit Organizations

For-profit organizations can apply for the Employee Retention Tax Credit (ERTC) as a state grant using subfield 958-605...

Reporting Employee Retention Credit on Form 990

Reporting Employee Retention Credit on Form 990

Filing Form 990 requires organizations to follow the book report. The IRS has recently updated their frequently asked...