Body Delays in Employer Credit Advance Payments Expect payment delays until late January 2022 for Form 7200, Advance Payment of Employer Credits. Taxpayers may continue to file Forms 7200 by facsimile until January 31, 2022 and their applicable employment tax returns by the required due date. Thank you for your patience during our annual system update. We're offering tax help for individuals, families, businesses, tax-exempt organizations and others – including health plans – affected by coronavirus. Advance Child Tax Credit The expanded and advanceable Child Tax Credit was authorized by the American Rescue Plan Act, enacted in March 2021. Normally, the IRS calculated the payment based on a person's 2020 tax return, including those who use the Non-filer Sign-up tool. If that return was not available because it had not yet been filed or was still being processed, the IRS instead determined the initial advance payment amounts using the 2019 return or the information entered using the Non-filers tool that was available in 2020. See the Advance Child Tax Credit 2021 webpage for the most up-to-date information about the credit and the advance payments, and FAQs on the 2021 Child Tax Credit and Advance Child Tax Credit Payments. IRS Mission-Critical Functions Continue We continue to process returns and issue refunds, and we are making progress. Get up-to-date status on affected IRS operations and services. Economic Impact Payments The IRS has issued all first, second and third Economic Impact Payments. Most eligible people already received their Economic Impact Payments. However, people who are missing stimulus payments should review the information on the Recovery Rebate Credit page to determine their eligibility and whether they need to claim a Recovery Rebate Credit for tax year 2020 or 2021. Securely access your individual tax information with an IRS online account to view your first, second and third Economic Impact Payment amounts under the related tax year tab. Latest Updates on Coronavirus Tax Relief American Rescue Plan Act of 2021 See this IRS news release for more information on individual tax provisions of the American Rescue Plan Act of 2021, signed into law on March 11, 2021. The legislation also made changes to tax relief for employers. Continue to check back for updates. Employer Tax Credits Many businesses that have been severely impacted by coronavirus (COVID-19) qualify for employer tax credits – the Credit for Sick and Family Leave, the Employee Retention Credit, and Paid Leave Credit for Vaccines. Information for... Individuals and Families Economic Impact Payments, advance payments of the Child Tax Credit and more are part of your coronavirus relief. Advance Child Tax Credit Payments Recovery Rebate Credit Premium Tax Credit Tax Treatment of 2020 Unemployment Benefits More for Individuals Businesses and Tax-Exempt Entities Your small or large business or tax-exempt organization may be eligible for coronavirus relief. Employer Tax Credits Self-Employed Filing and Payment Deadlines Early Termination of the Employee Retention Credit, Retaining Employment Tax Deposits in Anticipation of Credits, Shut Down of the Fax Line and Helpful Form 7200 Hints More for Businesses Health Plans and Retirement Plans If you’re a health plan administrator, coronavirus relief also affects the plans you manage. Coronavirus Relief for Retirement Plans and IRAs High-Deductible Health Plans More for Health Plans Coronavirus Tax Relief Information Resources Resources and Guidance Partner and Promotional Materials for the Recovery Rebate Credit 2021 Child Tax Credit Resources and Guidance Social Media Twitter: @IRSnews or @IRSenEspanol IRS on Facebook IRS on Instagram IRS on LinkedIn IRS on YouTube Call the Centers for Disease Control (CDC) <!– finder="" vaccine="" widget=""> </!–>
