{"id":3813,"date":"2021-04-13T16:40:36","date_gmt":"2021-04-13T21:40:36","guid":{"rendered":"https:\/\/cookco.us\/news\/?p=3813"},"modified":"2021-04-13T16:40:48","modified_gmt":"2021-04-13T21:40:48","slug":"relief-from-penalty","status":"publish","type":"post","link":"https:\/\/cookco.us\/news\/relief-from-penalty\/","title":{"rendered":"Relief from Penalty"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Relief from Penalty for Failure to Deposit Employment Taxes<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><a rel=\"noreferrer noopener\" href=\"https:\/\/lnks.gd\/l\/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMTcsInVyaSI6ImJwMjpjbGljayIsImJ1bGxldGluX2lkIjoiMjAyMTA0MTMuMzg3MDkyNzEiLCJ1cmwiOiJodHRwczovL3d3dy5pcnMuZ292L3B1Yi9pcnMtZHJvcC9uLTIxLTI0LnBkZiJ9.QFZNTWbv1rzePOpzKzhFUfP-_Dhlqpa_CANLUTkn7iU\/s\/7110380\/br\/101977953693-l\" target=\"_blank\">Notice 2021-24<\/a> amplifies the guidance in Notice 2020-22, 2020-17 I.R.B. 664, which provides for penalty relief under section 6656 of the Code for an employer\u2019s failure to timely deposit Employment Taxes with the IRS.\u00a0 This notice provides relief from section 6656 for employers required to pay qualified sick leave wages and qualified family leave wages, and qualified health plan expenses allocable to these wages, mandated by the <strong>Families First Coronavirus Response Act<\/strong>, as amended by the COVID-related <strong>Tax Relief Act of 2020<\/strong>, and the <strong>American Rescue Plan Act of 2021<\/strong> (American Rescue Plan Act).\u00a0 <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This notice also provides relief from section 6656 for certain employers subject to a full or partial closure order due to COVID-19 or experiencing a statutorily specified decline in business under the <strong>Coronavirus Aid, Relief, and Economic Security Act<\/strong>, as amended by the <strong>Taxpayer Certainty and Disaster Tax Relief Act of 2020<\/strong> and the<strong> American Rescue Plan Act<\/strong>.\u00a0 <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Finally, this notice provides relief from section 6656 for certain employers for which COBRA continuation coverage premiums were not paid by assistance eligible individuals for such coverage by reason of section 9501(a)(1) of the <strong>American Rescue Plan Act<\/strong>.\u00a0 This relief ensures that such employers may pay qualified sick leave wages and qualified family leave wages, qualified wages, and COBRA continuation coverage premiums using Employment Taxes that would otherwise be required to be deposited without incurring a failure to deposit penalty.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em><span class=\"has-inline-color has-vivid-cyan-blue-color\">Notice 2021-24 will be in IRB: 2021-18, dated 05\/03\/2021.<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Relief from Penalty for Failure to Deposit Employment Taxes Notice 2021-24 amplifies the guidance in Notice 2020-22, 2020-17 I.R.B. 664, which provides for penalty relief under section 6656 of the Code for an employer\u2019s failure to timely deposit Employment Taxes with the IRS.\u00a0 This notice provides relief from section 6656 for employers required to pay [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3814,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"apple_news_api_created_at":"2021-04-13T21:40:54Z","apple_news_api_id":"a7112831-bd62-4729-ac51-e59e66faaebb","apple_news_api_modified_at":"2021-04-13T21:40:54Z","apple_news_api_revision":"AAAAAAAAAAD\/\/\/\/\/\/\/\/\/\/w==","apple_news_api_share_url":"https:\/\/apple.news\/ApxEoMb1iRymsUeWeZvquuw","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-3813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tax"],"apple_news_notices":[],"_links":{"self":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/posts\/3813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/comments?post=3813"}],"version-history":[{"count":0,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/posts\/3813\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/media\/3814"}],"wp:attachment":[{"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/media?parent=3813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/categories?post=3813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cookco.us\/news\/wp-json\/wp\/v2\/tags?post=3813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}