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Latest Updates on Coronavirus Tax Relief

Penalty relief for certain 2019 and 2020 returns.
To help struggling taxpayers affected by the COVID-19 pandemic, the IRS issued Notice 2022-36 PDF, which provides penalty relief to most people and businesses who file certain 2019 or 2020 returns late. The IRS is also taking an additional step to help those who paid these penalties already. To qualify for this relief, eligible tax returns must be filed on or before September 30, 2022. See this IRS news release for more information on this relief.

Coronavirus Tax Relief ›
FAQs: Employee Retention Credit under the CARES Act ›

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2020*

Q1–Q2 2021

Q3 2021

Q4 2021

ERC FAQ’s

What is the Employee Retention Credit (ERC)?
What is a “qualifying business”?
What government shutdowns count as qualifying for the ERC?
What is a "significant decline in gross reciepts"?
What are "qualifying wages" and whos's wages count?
Can businesses of any size qualify for the ERC?
Can I get ERC if I got a Payroll Protection Program loan (PPP)?
How much money can I get for the ERC?
How much money can a Recovery Startup Business get for ERC?
Does the ERC have to be paid back?
Is the Employee Retention Credit considered taxable income?
How do I claim the ERC?
Will ERC funding run out?
What is the deadline to apply?
How long does it take to receive the Employee Retention Credit once it's filed?
Can religious organizations and other non-profits qualify for ERC?
What are "gross receipts" for an employer other than a tax-exempt organization?
Upon request by the IRS, what records must third party payers obtain from their client employers to substantiate the client's eligibility for the Employee Retention Credit?
Is the determination of gross receipts based on a "cash" or "accrual" basis?
Can an Eligible Employer that uses a third party to report and pay employment
taxes to the IRS get the Employee Retention Credit?
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