How do I e-file Form 7200 with Express E-file?
1.0k views | Last modified 7/9/2020 11:29:15 AM EST | Added by ExpressEfile Team

Applicable To
Form 941 Form 1099 / W-2 Form 2290

With Express E-File, you can complete the form in less than 15 minutes. Here are the steps to e-file Form 7200 in Express E-File:

  • Sign up or log in to your Express E-file account.
  • Choose Form 7200 from Forms dropdown menu.
  • Enter your Name, Employee Identification Number (EIN), Trade name, Address with Zipcode.
  • Check the applicable calendar quarter for which you are filing Form 7200.
  • If you are filing with the help of a tax preparer, enter the third-part payer’s name and EIN.  

Note: Make sure to enter the correct EIN as it is in the IRS records. This will help you to avoid unnecessary rejection of your return.

Part- 1:

  • Line A, Check the employment tax return that you file (or will file) for 2020.
  • Line B, Indicate if your business was started on or after January 2020. If its a new business then skip line C.
  • Line C, Enter the total wages, tips, and compensation you reported on the recently filed Form 941. If you have filed other forms, you have to report different amounts, refer IRS instruction to know more.
  • Line D, Enter the total number of employees.

Part - 2:

  • Line 1, 2, 3, Enter the total retention credit (use the Express E-file calculator and calculate the total wages and credits), enter the qualified sick leave wages, enter the qualified family leave wages paid for the quarter respectively.
  • Sum up Lines 1, 2 and 3, and enter it on Line 4.
  • Line 5, Enter the amount by which you reduced your federal tax deposits for the quarter. If this line is left blank or incorrect amount entered, it will have an effect on your employment tax return.
  • Line 6, Enter the amount of any credits reported on previous filings.
  • Add lines 5 and 6, fill it on line 7.

Once you enter all the details, you can review and sign the form. If you made an error on Form 7200, you can correct when you file your Form(s) 941, 943, 944, or CT-1 for 2020.

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