The IRS released an updated Form 7200, Advance Payment of Employer Credits Due to COVID-19, on May 18, 2021. The form was developed so employers could get new tax credit refunds paid in advance. IRS Note: At the time Form 7200 and these instructions went to print, the...
federal tax
New Version of Form 7200 Needed to File for Second Quarter 2021 Credits
The IRS is asking employers to wait until the newest version of Form 7200 (Advance Payment of Employer Credits Due to COVID-19) is available before submitting it for the second quarter of 2021 because the existing January 2021 version of the form was not designed for...
Filing season reminder: An extension to file is not an extension to pay taxes
For most individual taxpayers the tax filing and payment deadline was postponed to May 17. Those who need more time to file beyond the postponed date, can request an extension to file. Taxpayers must request an extension to file by May 17, or they may face a failure...