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[3 Apr 2020 | No Comment | ]

Sally P. Schreiber, J.D.,
The IRS on Tuesday issued a new form and instructions for employers to use to obtain advance payments of three tax credits that were created to help businesses cope with the coronavirus pandemic.
Employers may file new Form 7200, Advance Payment of Employer Credits Due to COVID-19, to obtain advances of employment taxes that are refundable as a result of the new tax credits: the employee retention credit, the qualified sick leave credit, and the qualified family leave wages credit.
The qualified sick leave credit and the …