Update on COVID-19 Employment Tax Credits, including the Release of Form 7202

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Update on COVID-19 Employment Tax Credits, including the Release of Form 7202

Form 7202, Credits for Sick Leave and Family Leave for Certain Self-Employed Individuals On Tuesday, February 8, the IRS announced that a new form is available for eligible self-employed individuals

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Employee Retention Credit (ERC) Update

Employers that received a PPP loan and were previously prohibited from claiming the Employee Retention Credit (ERC) may now retroactively claim the ERC for 2020. Employers may use ERCs to offset

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Consulting | Audit | Tax | Advisors | Accounting – BMSS Advisors & CPAs is a Certified Public Accounting firm serving businesses in Alabama (AL), Mississippi (MS) and the Southeast U.S. including Birmingham, Mobile, Gadsden, Huntsville, and Ridgeland. We serve the needs of businesses and their owners, including manufacturers, government contractors, healthcare organizations, oil and gas, and nonprofit organizations to name a few. We also assist with outsourced accounting, outsourced CFO, transaction advisory, service organization control (SOC) reports, employee benefit plan audits, and estate and trusts. For additional information contact us at 205-982-5500.