Question
ERC Credit when selling business
A client, owner of a local restaurant, applied for ERC credit through his payroll service provider. Estimated credit is $71,600. After application for ERC credit, client received unsolicited offer inviting him to sell his business. I was ready to amend the business 2020 returns to adjust for the amount of credit.
Question: Assuming credit arrives after sale of business, who get it? The old owner or the new owner? I'm unable to find anything addressing this question. Any suggestions? Thx
