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[Music] in this video were going to look at the new updated form 7200 and just to show you how important this is you know this is the credit for the advanced payment for employee or credit uh due to kobe 19. and weve done several other programs on it but why this is so important this morning and im just going to read right here off the website then in the instructions for form 7200 it says on the irs web page way to file form 7200 for the second quarter of 2021 until the newest revision is available it just came out so those of you and some im even getting calls on some of you that have said how soon will the form be out its now out so you can immediately start filing for that advanced refund now you know the big example on this is the example you get somebody that works for ten thousand dollars a year for twenty twenty one that credit is seven thousand dollars but as that is paid out in payroll we use this form 7200 to get an advanced credit and then we reconcile it on the 941.
