Form 7200: Advance Payment of Employer Credits Due to COVID-19. It is a temporary measure by the IRS that will end on December 31, 2020, and will not be added to the program, however, you can build a summary report that will assist you in completing the form.
Part I Information:
Box C: Can be found on line 2 of the 941
Box D: Can be found on the totals report for the quarter
- Click Report
- Click Payroll Reports
- Click Pay Dates Reports
- Click Totals Report
- Select the desired Quarter
- Click OK
The total number of employees can be found in 'Employee Totals'
Part II Enter Your Credits and Advance Requested:
Line 1 through Line 8 will be based on your company information and advance amount requested.