Use Form 7200 to request advance payment of the qualified sick and family leave credits and the employee retention credit from IRS. Prior to requesting advance payment, the employer should utilize the credits by retaining employment taxes equal to the amount of qualified sick and family leave wages paid and their employee retention credit instead of depositing those amounts with the IRS. The applicable employment taxes include the employer and employee shares of Social Security and Medicare taxes and any federal income tax withheld.
Form 7200 may be filed at any time during the month following the quarter in which the qualified wages were paid. If needed, the form may be filed multiple times during a given quarter. File Form 7200 to IRS by faxing the completed form to 855-248-0552.