IRS Provides Penalty Relief, Reduced Federal Employment Tax Deposits in Anticipation of Tax Credits (COVID-19)
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April 1, 2020
Yesterday, IRS released Notice 2020-22. It provides penalty relief with regard to employers' deposits of federal employment taxes-including deposits of withheld income taxes and employment taxes-that are reduced in anticipation of tax credits under legislation recently enacted to address the coronavirus (COVID-19) pandemic.
For a copy of Notice 2020-22, click on the link below:
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