Employee Retention Credit

[KWF]

The employee retention credit is not available to self employeds.

Would a single shareholder S Corp who's only employee is that shareholder, and only wages paid is to that shareholder, qualify for the ERTC if all other requirements are met?
I can find no IRS clarification of this specific situation.

Under PPP rules, S corp owner/employees are treated similarly to self employeds, so I am wondering if that carries over to the ERTC, possibly making single s/h S corps ineligible for the ERTC.

[nwtaxlady]

Have you looked at the form 7202? I know that IRS is coming out with new guidance for form 7200 and 7202 with the new bill that just passed. There are a lot of changes in this new bill.
I had read that employers and third party payroll companies should hold off on filing 941's until IRS releases this new guidance and that these forms are also due Jan 30th.