Feel Free Read A Toolkit for IRS Partners: COVID-19 Relief for Tax Exempt Organizations (October 2020) MOBI
A Toolkit for IRS PartnersCOVID-19 Relief for:Tax Exempt OrganizationsOctober 2020Employee Retention Credit - Helps businesses keep employees onthe payroll.Paid Sick and Leave Credit - Allows employees to take thenecessary leave to care for themselves if they are experiencingCOVID-19 symptoms. The credit also allows employees to take thenecessary leave to care for a family member if they are experiencingCOVID-19 symptoms or the place that cares for their child is closed.Deferral of Employment tax deposits - Allows employers to deferthe deposit and payment of the employer's share of Social Securitytaxes and self-employed individuals to defer payment of certain selfemployment taxesRelief granted to tax-exempt organizations who face hardships duringthe COVID-19 pandemic.To our partner organizations,The IRS is working diligently to implement the Coronavirus Aid, Relief & Economic Security Act(CARES). The CARES Act includes emergency assistance for individuals, families andbusinesses affected by the 2020 coronavirus pandemic and includes employer credits,compliance relief and Economic Impact Payments.To help reach individuals and businesses who are eligible for the credits and other relief, theIRS is conducting a sweeping outreach campaign to reach everyone who may be eligible.This toolkit aims to reach individuals and businesses who have been affected by COVID-19,whether the business has experienced a hardship due to closure or decline in sales oremployees taking leave to care for themselves or to care for someone who is experiencingCOVID-19 symptoms or if their child care facility is closed.Our goal is to share information and resources that businesses can use as well as includeinformation businesses can share with employees such as paid sick leave relief and checkingwithholding.Also, the IRS has provided relief for those taxpayers who are experiencing compliance relatedhardships due to COVID-19.
