f your business will be applying for ERC credits, please read on...
IRS has just clarified if salaries paid to owners qualifies for the credit. Up until now, it remained unclear.
The ruling now makes it clear that salaries for owners typically will NOT qualify for the credit. In a particularly unusual ruling and what I think is confusing, the only type of owners that qualify are those who have no children and no living parents.
Yes, it's a very odd ruling and although not exactly worded in that way, that's the intent of the IRS..
This means for most of you, your wages will not qualify.