Businesses and Tax-Exempt Entities

The Employee Retention Credit is a refundable tax credit against certain employment taxes equal to 50% of the qualified wages an eligible employer pays to employees after March 12, 2020, and before January 1, 2021. You can get immediate access to the credit by reducing the employment tax deposits you are otherwise required to make. Also, if your employment tax deposits are not sufficient to cover the credit, you may get an advance payment from the IRS.

Get details on the retention credit.

The Families First Coronavirus Response Act PDF gives all American businesses with fewer than 500 employees funds to provide employees with paid leave, either for the employee's own health needs or to care for family members.

Get details on paid leave for employees.

Get answers about NOL Carrybacks of C Corporations to Taxable Years in which the Alternative Minimum Tax Applies.

Get more information about the carryback of NOLs by certain exempt organizations.

Get answers about tax treatment of the air carrier payroll support payments.

• If a tribe or tribal entity operates a trade or business, is the tribe or tribal entity eligible for the Employee Retention Credit? (See FAQ 21)
• Under the ERC, do “qualified wages” include both the portion of the cost paid by the Eligible Employer and the portion of the cost paid by the employee? (See FAQ 63)
• Must a state, local, or tribal government require applications to be submitted by businesses or individuals before providing assistance using payments from the Fund? (See FAQ 43) PDF - added September 1, 2020

• Paycheck Protection Program
• COVID-19-Related Tax Credits for Paid Sick and Paid Family Leave: Overview
• FAQs: Employee Retention Credit under the CARES Act
• Coronavirus Relief Fund Frequently Asked Questions PDF - updated May 4, 2020
• Form 7200, Advance Payment of Employer Credits Due to COVID-19
• Publication 5419, New Employer Tax Credits PDF

• Small Business and Self-Employed Tax Center: Online resources for taxpayers who file Form 1040 or 1040-SR, Schedules C, E, F or Form 2106, as well as small businesses with assets under $10 million.
• Filing and Paying Business Taxes: Electronic payment options.
• Closing a Business: Procedures for getting out of business, including what forms to file and how to handle additional revenue received or expenses incurred.
• Independent Contractor or Employee: It is critical that business owners correctly determine whether the individuals providing services are employees or independent contractors. We can help.
• Small Business Taxes: The Virtual Workshop: Everything a new business owner needs to know to help you meet your federal tax obligations.
• IRS Video Portal for business: Contains A-Z information for business owners and self-employed individuals in a video format.
• Small Businesses TCJA Training Materials: The IRS continues to implement the Tax Cuts and Jobs Act (TCJA). This major tax legislation affects individuals, businesses, and tax-exempt government entities.
• "What Ifs” for Struggling Taxpayers

• Applying for Tax-Exempt Status: IRS requires that Form 1023 applications for recognition of exemption be submitted electronically.
• Automatic Revocation: How to Have Your Tax-Exempt Status Retroactively Reinstated.
• Annual Filing and Forms: In general, exempt organizations are required to file annual returns, although there are exceptions.
• Tax Exempt Organization Search (formerly Select Check): Tax Exempt Organization Search helps users find information about a tax-exempt organization’s federal tax status and filings.
• CARES Act Coronavirus Relief Fund frequently asked questions
• Frequently Asked Questions about Taxation of Provider Relief Payments
• Frequently Asked Question about COVID Relief for Van Pools

• See all Frequently Asked Questions, resources and guidance.
• Publication 5420-D, A Toolkit for IRS Partners - Small Business Relief: Employer Tax Credits, Paid leave for employees, & Relief for compliance efforts PDF
• Publication 5420-E, A Toolkit for IRS Partners – COVID-19 Relief for: Tax Exempt Organizations PDF
• COVID-19 Business Tax Relief Tool