The Internal Revenue Service (IRS) today issued several pieces of administrative compliance guidance relating to the COVID pandemic. The following lists and describes the IRS guidance issued today:

• Notice 2021-06 waives the requirement to file certain information returns or furnish certain payee statements pursuant to section 279 of the COVID-related Tax Relief Act of 2020 (COVID Relief Act). "Specifically, this notice waives the requirement to file certain information returns or furnish certain payee statements otherwise required by chapter 61 of the Code with respect to amounts excluded from gross income by reason of section 7A(i) of the Small Business Act (15 U.S.C. § 631 et seq.) or sections 276(b), 277, or 278 of the COVID Relief Act," the IRS notes.
• Notice 2021-08 provides a waiver of the addition to tax under Internal Revenue Code section 6654 "for underpayment of estimated income tax by individual taxpayers, where the underpayment is attributable to the amendment to § 461(l)(1)(B) of the Code made by section 2304(a) of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act)," the IRS explains.
• Notice 2021-10 provides additional relief under Internal Revenue Code section 7508A for qualified opportunity funds (QOFs) and their investors. "This notice also provides additional relief pursuant to section 1400Z-2(f)(3) and Income Tax Regulations under section 1400Z-2 of the Code," the IRS explains. "Specifically, this notice extends the relief for QOFs and their investors provided by Notice 2020-39."
• Notice 2021-11 postpones the end date of the period during which employers must withhold and pay deferred Social Security taxes from April 30, 2021 to December 31, 2021. It also postpones from May 1, 2021 to January 1, 2022 any associated interest, penalties, and additions to tax for late payment with respect to any unpaid deferred taxes. "As required by section 274 of the COVID-related Tax Relief Act of 2020, which was enacted as part of the Consolidated Appropriations Act, 2021, on December 27, 2020, this notice modifies Notice 2020-65 by extending the time period during which employers must withhold and pay certain taxes that were deferred under Notice 2020-65," the IRS says.

The IRS also issued a press release on Notice 2021-11 that is posted here.

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