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Weekly Internal Revenue Bulletin

By Emlyn Cameron · July 16, 2021, 3:19 PM EDT

The Internal Revenue Service released its weekly bulletin Friday, which included an extension of income exclusions on paid leave donations.

The bulletin included Notice 2021-42, which said paid time off that employees donate as cash payments to coronavirus relief charities described under Internal Revenue Code Section 170(c) will continue not to count as income for tax purposes until next Jan. 1. The bulletin also included Rev. Proc. 2021-24, which said people who aren't required to file tax returns for 2020 can file simplified returns for last year to receive monthly advance payments of the expanded child tax credit that began in July. 

And the bulletin included Notice 2021-41, which extended the safe harbor for renewable-energy projects begun between 2016 and 2020 to satisfy the continuity requirement to qualify for the production and investment tax credits due to the coronavirus pandemic. 

--Additional reporting by Theresa Schliep, Stephen Cooper, and Eric Kroh. Editing by Roy LeBlanc.

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