The 49-page publication, Tax Withholding and Estimated Tax, was released April 8 with revisions to add guidance on the American Rescue Plan Act (ARPA) that was signed into law last month by President Biden.

IRS guidance was also issued for employers claiming the employee retention tax credit for the first two quarters of 2021. The changes addressed include the increase in the maximum credit amount from 50% to 70%, a modification of the gross receipts test threshold to 80% and changes in how the decline in gross receipts is calculated, and new restrictions limiting the ability to request an advance payment of the credit to certain small eligible employers.