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February 8, 2021

IRS publishes new form for individuals claiming tax credits for sick and family leave taken due to coronavirus

The IRS has announced (IR-2021-31) the availability of new Form 7202, which eligible self-employed individuals may use to claim sick and family-leave tax credits under the Families First Coronavirus Response Act. The credits may be claimed on applicable 2020 and 2021 individual tax returns for leave taken between April 1, 2020 and March 31, 2021.