D Cash
C ERC (Other Income)
The issue is that it’s received Now or 2023 when finalized.
But it was based on 2020/2021 wages.
Amend those 2020/2021 Corp returns but how to record properly in QB since it’s in different periods??
D tax expense
C wages (to reduce)
What happens to the ERC account in 2022/2023?
Wouldn’t that be a M-1 item since the ERC is being credited/amended for a prior period?
It’s confusing as the tax periods are mixed up.
