For ERC funds received AFTER a S Corp has been shut down.....
View More DetailsIf an S Corporation has filed final returns, yet is issued ERC funds after being sold/closed, is it appropriate to simply claim the interest and other income on the sole shareholder's personal 2025 tax returns?
Comments
Yes, ERC refund is claimed on the shareholders individual federal return as ordinary income (not taxable on CA return). Interest income included on both federal and CA individual returns.
Thanks Colleen!
