April 13, 2021 IRS amplifies COVID-19 relief for certain employers' failure to timely deposit employment taxes with the IRS In Notice 2021-24, the IRS amplifies prior penalty relief under IRC Section 6656 for an employer's failure to timely deposit employment taxes with the IRS. Specifically, the new guidance provides relief from IRC Section 6656 for certain employers that: (1) are required by recent legislation to pay qualified sick leave wages and family leave wages, as well as qualified health plan expenses allocable to these wages; (2) are subject to a full or partial closure order due to COVID-19 or are experiencing a statutorily specified decline in business under the CARES Act and more recent legislation; or (3) fail to pay certain COBRA continuation coverage premiums for assistance-eligible individuals. A Tax Alert on the notice is forthcoming. | ||||