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The IRS issued four new FAQs on tax credits for employee paid leave taken under the Families First Coronavirus Response Act (FFCRA) and the American Rescue Plan Act (ARPA). The new FAQs discuss employer and employee reporting of wages for leave taken under the FFCRA and ARPA during different periods.
Two of the questions address employers’ obligation to furnish a Form W-2c to correct wages reported on an employee’s W-2. The other two questions are about a self-employed individual’s obligation to file an amended tax return if they receive a Form W-2c from an employer.
Download the bulletin for more details.
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