Documentation Required to Receive Tax Credits

Eligible Employers claiming the credits for qualified leave wages (and allocable qualified health plan expenses and the Eligible Employer’s share of Medicare taxes), must retain records and documentation related to and supporting each employee’s leave to substantiate the claim for the credits, and retain the Forms 941, Employer's Quarterly Federal Tax Return, and 7200, Advance of Employer Credits Due To COVID-19, and any other applicable filings made to the IRS requesting the credit.

Source: (#4)(#44)

IRS Form 941: Employee Retention Credit for Employers Subject to Closure Due to COVID-19 Crisis

IRS Form 7200: Advance Payment of Employer Credits Due to COVID-19

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