Good Morning Everyone:
As the IRS has begun to look into the ERC refunds there is a need to amend any business and personal returns. It seems that this should be done almost immediately upon the filing of the 941X's.
There are several questions that need to be answered.
1) The amended return should be filed for the IRS. However because there is no change to the state should we file the state anyway since the federal return has changed.
2) Upon filing the return if you have any client that has a profit sharing plan will there need to be adjustments made to the contributions. Remembering of course these are 2020 and 2021 returns that are being filed
Any help will be appreciated.