If, due to the American Rescue Plan Act, you are paying premiums for employees who’ve been terminated or had reduced hours, you may use employment tax credits to cover your costs for COBRA premium assistance. You may obtain an advance of these credits by filing Form 7200. A draft of the revised form, reflecting COBRA payments from April 1, 2021, through September 30, 2021, has been released. Check for a final version before filing. #IdeaoftheDay
