Posted by Jeffrey Feingold on 04.07.20
On March 30, the IRS issued a draft of Form 7200 to identify a larger set of employment taxes against which the payroll tax credits could be applied. For the latest information about developments related to Form 7200 and its instructions, such as legislation enacted after they were published, go to IRS.gov/ Form7200.
Taxpayers can use Form 7200 to request an advance payment of the tax credits for qualified sick and qualified family leave wages and the employee retention credit can be claimed on the following forms.
Please note this is only a draft and is not finalized. Stay informed at the IRS.gov for information during the COVID-19 outbreak.
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