COVID's impact on penalties and IRS services
Sep 17, 2021
・4 min read
AICPA Insights Blog
COVID-19: Tax
The COVID-19 pandemic has impacted all aspects of our lives and created many uncertainties and challenges. The AICPA Tax Section is here to help and has developed resources to help you get through this critically important time.
Tax Subtopics
- C Corporation Income Taxation
- COVID-19: Tax
- Employee Benefits
- Individual Income Taxation
- International Tax
- IRS Practice & Procedure
- Partnership & LLC Taxation
- Policy & Regulatory Change
- Practice Management & Professional Standards
- S Corporation Income Taxation
- State & Local Tax (SALT)
- Tax Accounting
- Taxation of Estates & Trusts
- Tax-Exempt Organizations
- Tax Season
COVID-19: Tax Resources
Tax Section
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Professional Insights
More Tax Professional Insights will be released in the future
- Child Tax Credit Client Letter
- Client Letters for Year-End Coronavirus Relief Act
- COVID-19 Loan Application Assistance Service Engagement Letter
- PPP Sample Engagement Letters
Client-facing tools
- Summary of American Rescue Plan Act of 2021
- Summary of Year-End Coronavirus Relief Act (signed into law Dec. 27, 2020)
- CARES Act and Families First Coronavirus Response Act Summary
- Coronavirus and Tax Impacts FAQs
- Employee retention credit guidance and resources
- PPP State Tax Treatment Chart
- SBA and Treasury Guidance Issued After Economic Aid Act
Practitioner guidance
- ERC — What we know now | Tax Section Odyssey
- Finalizing tax returns when you don’t have all the answers | Tax Section Odyssey
- Talking to clients about the advanced child tax credit |Tax Section Odyssey
- Challenges with contingency fees and the ERC | Tax Section Odyssey
- A look towards the horizon for potential tax legislation | Tax Section Odyssey
- Uncertainties with PPP and tax in 2021 | Tax Section Odyssey
- The American Rescue Plan Act of 2021 | Tax Section webcast archive
- PPP + ERC in 2020 | Tax Section Odyssey
- Breaking down the employee retention credit | Tax Section Odyssey
- The New Employee Retention Credit: More for Eligible Employers | Tax Section webcast archive
- See more Tax Section Odyssey episodes.
Podcasts and videos
- H.R. 1319: American Rescue Plan Act of 2021
- H.R. 133: Consolidated Appropriations Act, 2021
- H.R. 6201: Families First Coronavirus Response Act
- H.R. 748: Coronavirus Aid, Relief and Economic Security (CARES) Act
- H.R. 7010: Paycheck Protection Program Flexibility Act
Legislation
- Notice 2021-49 – Guidance on the Employee Retention Credit under Sec. 3134 and Miscellaneous Issues Related to the Employee Retention Credit
- Revenue Procedure 2021-33 – Safe Harbor Permitting Employers to Exclude Certain Amounts from Gross Receipts Solely for Determining Eligibility for the ERC
- Revenue Procedure 2021-24 – Advance Child Tax Credit
- Notice 2021-25 – Temporary 100-Percent Deduction for Business Meal Expenses
- Notice 2021-24 – Relief from Penalty for Failure to Deposit Employment Taxes
- Notice 2021-23 – Guidance on the Employee Retention Credit under the CARES Act for the First and Second Calendar Quarters of 2021
- Notice 2021-20: Guidance on the Employee Retention Credit under Sec. 2301 of the CARES Act
- See more IRS notices and revenue procedures.
IRS Notices and Revenue Procedures
- Child and Dependent Care Tax Credits FAQs
- Tax Credits for Paid Leave Under the American Rescue Plan Act of 2021 for Leave After March 31, 2021
- COVID-19-Related Employee Retention Credits: How to Claim the Employee Retention Credit FAQs
- See more IRS COVID-19 FAQs.
IRS FAQS
- Cross-Border Tax Guidance Related to Travel Disruptions Arising from the COVID-19 Emergency
- IRS Coronavirus and Economic Payments: Resources and Guidance
- IRS Economic Impact Payment Information Center
- IRS Operations During COVID-19: Mission-Critical Functions Continue
Other IRS guidance
- COVID-19 and the Family and Medical Leave Act Questions and Answers
Department of Labor