This Week's Internal Revenue Bulletin

HIGHLIGHTS OF THIS ISSUE

These synopses are intended only as aids to the reader in identifying the subject matter covered. They may not be relied upon as authoritative interpretations.

ADMINISTRATIVE

Rev. Proc. 2021-24, page 19. This revenue procedure provides two procedures for individuals not otherwise required to file 2020 Federal income tax returns to file returns to receive advance child tax credit payments, 2020 recovery rebate credit payments, additional 2020 recovery rebate credit payments, and third-round economic impact payments. The first procedure permits these individuals to file simplified returns. The second procedure enables these individuals to file complete returns electronically even if they have zero adjusted gross income.

EMPLOYMENT TAX, INCOME TAX

Notice 2021-42, page 19. This notice extends the federal income and employment tax treatment provided in Notice 2020-46, 2020-27 I.R.B. 7, to cash payments made to charitable organizations described in section 170(c) of the Code (section 170(c) organizations) after December 31, 2020, and before January 1, 2022, that otherwise would be described in Notice 2020-46. Under leave-based donation programs, employees can elect to forgo vacation, sick, or personal leave in exchange for cash payments made by their employers to section 170(c) organizations.

INCOME TAX

Notice 2021-41, page 17. Beginning of Construction for Sections 45 and 48; Extension of Continuity Safe Harbor to Address Delays Related to COVID-19 and Clarification of the Continuity Requirement. In response to the Coronavirus Disease 2019 (COVID-19) pandemic, Notice 2021-41 extends the Continuity Safe Harbor for both the production tax credit for qualified facilities under section 45 of the Internal Revenue Code (Code) and the in-vestment tax credit for energy property under section 48 of the Code for property the construction of which began in 2016 through 2020. This notice also provides a clarification of the methods that taxpayers may use to satisfy the continuity requirement to satisfy the beginning of construction requirements under sections 45 and 48.