You can read about this at Newly Issued Employee Retention Credit Guidance Punishes Owner Employees If They Have Living Family Members. Many readers have asked us what to do if they have already taken the credit for a majority owner who has family members. Will Uber Eats drivers form S Corporations and pay themselves a minimum wage, while receiving tips personally to get the double credit? MAKING AMENDSDiverting from the welcome updates to the more tedious, any filers who did not include the ERC credit in their 2020 tax return but did receive the ERC credit later that year (i.e. Tax professionals may want to consider purchasing our book called The Employee Retention Credit Guide: Everything You Need to Know, and More to Claim and Receive the Employee Retention Credit from Amazon.com.

Source: Forbes August 07, 2021 20:46 UTC