ERC Refund Reporting Clarification
View More DetailsClient received ERC refunds in 2023 and 2024, both associated with 2021 payroll. I was originally planning to amend 2021 to reflect the refunds. The new (3/20/25) IRS FAQ guidance indicates you "can" now include the income in the year received, rather than go back and amend the prior year return. I would prefer to amend just 2021 rather than both 2023 and 2024.
My question is, is the 2021 tax year officially "closed" at this point?
If so, I guess I'll be amending the 2023 and 2024 tax years.
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