2021 – 04/14 The IRS has provided additional penalty relief for employers who failed to timely deposit employment taxes because their deposits were reduced in anticipation of various employment tax credits. This IRS guidance specifically extends penalty relief provided by various COVID-19-related legislation to these three credits: 1) paid sick and family leave credits with respect to qualified leave wages paid from Jan. 1, 2021, through Sept. 30, 2021; 2) the employee retention credit with respect to qualified wages paid beginning Jan. 1, 2021, and ending Dec. 31, 2021; and 3) the COBRA credit for coverage from April 1, 2021, and ending Sept. 30, 2021. Read Notice 2021-24 here:

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