COVID-19 FAQs – Tax Credits Quarter-End Forms and More
Please see below for a current list of COVID-19-related FAQs around Tax Credits, Quarter-End Forms, and More.
For additional FAQs, also see:
STAY UP TO DATE:
Always stay up to date with COVID-19: Consolidated Appropriations Act Updates for 2021.
Updated 4/3/20, 5:01pm.
Does the IRS have any resources that I can reference for more details?
Yes, please feel free to view this page on the IRS Website for more details. You can also find some helpful information on the American Payroll Association (APA) Website. Updates are occurring frequently, so we recommend bookmarking and following these resources regularly to ensure you are using the most up-to-date information. Namely will also be updating our materials as soon as new guidance is made available.
I heard that the new sick leave and paid family medical leave laws may result in changes to my 941. Will Namely be handling those changes? If so, how?
A change to the 941 is possible, but the IRS has not yet released any specific details. We will provide more updates internally and to our clients as soon as we have them.
I’ve heard that there may be a payroll tax credit. Can you advise if we need to do anything in Namely to receive the credit?
It is possible that your organization may be eligible for one of the two tax credit/loan programs below. Please visit the links for more information on each program:
I’ve heard there is an extension of time from our taxing authority to file state payroll reports and/or deposit state payroll taxes without penalty or interest. Can Namely delay our tax payments or stop our state income tax withholdings?
The Namely Service Team can help you delay remittance for any states that have extended Q1 payment deadlines.
Please submit a case in the Help Community with the product name Payroll and the subject line Q1 Tax Deferment for assistance.
Our product team is working through a solution to provide an option to prevent Q2 tax withholdings from being collected, as well.