New Form 941 Worksheet 1
The IRS expects the June 2021 revision of Form 941 and these instructions to be used for the second third and fourth quarters of 2021. Use Worksheet 1 to figure the credit for leave taken before April 1 2021.
941 Worksheet 1 Credit For Qualified Sick And Family Leave Wages And The Employee Retention Credit Das
If you have questions throughout your e-filing process feel free to reach out to our support team.
New Form 941 Worksheet 1. The ARP adds new. Do NOT submit disks USB flash drives or any other form of electronic media. For more information about the credit for qualified sick and family leave wages go to IRSgovPLC.
Worksheet 1 is used to calculate the amounts of the credits for qualified sick and family leave wages and the employee retention credit. If changes in law require additional changes to Form 941 the form andor these instructions may be revised. Use Worksheet 3 to figure the credit for leave taken after March 31 2021.
Much like with your Form 941 completing Worksheet 1 electronically will help you avoid errors. Worksheet 1 in the Instructions for Form 941 can help you calculate your tax refunds and deferments for the qualified Credit for Sick and Family Leave and the Employee Retention Credit. The next step is to figure out if you have a balance due or an overpayment.
The worksheet for calculating coronavirus-related employment tax credits was updated in the finalized instructions for the 2021 Form 941 Employers Quarterly Federal Tax Return released March 9 by the Internal Revenue Service. Tax return forms and supporting documents must be filed electronically see Electronic Services or submitted on paper. Electronic media cannot be processed and will be destroyed.
Prior revisions of Form 941 are available at IRSgovForm941 select the link for All Form. With the second quarter deadline for Form 941 approaching on July 31 2020 now is a great time to begin e-filing your form. The COVID-19 related employee retention credit has been extended and amended.
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