The IRS has issued guidance to employers about reporting on Form W-2 the amount of qualified sick and family leave wages paid to employees for leave taken in 2021. Notice 2021-53 provides guidance under legislation passed in 2020 and 2021 about tax credits to help employers during the COVID-19 pandemic. Employers will be required to report wage amounts to employees either on Form W-2, Box 14, or in a separate statement provided with Form W-2. Notice 2021-53 also provides information for self-employed taxpayers to report any sick and family leave equivalent credits they may claim. To read the guidance: https://bit.ly/3ttQV67 Call or visit our website for more information! www.mjscpa.com/
