The IRS has just posted a draft version of Form 7200, Advance Payment of Employer Credits Due to COVID-19. Form 7200 will be used by employers who file Form(s) 941, 943, 944, or CT-1 to request an advance of the tax credit for qualified sick and family leave wages and the employee retention credit.
The IRS has also released the proposed instructions for this form.
Download the draft form and draft instructions.
You can review this material and make comments through IRS.gov/FormsComments.
The IRS has also released the proposed instructions for this form.
Download the draft form and draft instructions.
You can review this material and make comments through IRS.gov/FormsComments.