The IRS created the new Form 7202 to allow self employed individuals claim the tax credits similar to the credits allowed to employers with employees out on emergency sick leave. The tax credits were created under the Families First Coronavirus Response Act passed early in the pandemic to help those unable to work (or telework) …
Tag: IRS
IRS Delays Tax Filing Season
The IRS announced that they will not be accepting e-filed 1040 tax returns until Friday February 12, 2021. This is late even for the IRS. The IRS needs time to implement changes to their systems to incorporate the tax law changes from the latest stimulus law signed by President Trump on December 27, 2020. This …