American Payroll Association: IRS Issues Guidance on Claiming ERC for First 2Q of 2021
April 08, 2021
April 08, 2021
SAN ANTONIO, Texas, April 8 (TNSPol) -- The American Payroll Association issued the following news:
The IRS issued guidance for employers on how to claim the employee retention credit (ERC) for the first two quarters of 2021 [Notice 2021-23, 4-2-21]. To claim the ERC, employers can reduce employment tax deposits. Small employers (500 or fewer full-time employees in 2019) may request advance payment of the credit on Form 7200, Advance of Employer Credits Due to COVID-19, after reduci . . .
The IRS issued guidance for employers on how to claim the employee retention credit (ERC) for the first two quarters of 2021 [Notice 2021-23, 4-2-21]. To claim the ERC, employers can reduce employment tax deposits. Small employers (500 or fewer full-time employees in 2019) may request advance payment of the credit on Form 7200, Advance of Employer Credits Due to COVID-19, after reduci . . .