Form 941 Worksheet 1 for 2020

Credit for Qualified Sick and Family Leave Wages and the
Employee Retention Credit

E-File Form 941 Online for 2020

IRS Form 941 Worksheet 1 - Explained

Updated on October 22, 2020 - 10:30 AM by Admin, ExpressEfile

Form 941, Employer's QUARTERLY Federal Tax Return, filed by employers in the United States has seen multiple revisions this year due to the COVID-19 pandemic. The IRS initially revised Form 941 for quarter 2, 2020, to accommodate the relief measures announced by the government to overcome the pandemic. So, from quarter 2, 2020, employers must file the revised Form 941.

To calculate the tax credits applicable for the reporting period accurately, the IRS has introduced Worksheet 1 (available on Page 20 of Form 941 instructions). If you’re an employer who are likely to apply for the COVID-19 tax credits, you must know about Form 941 Worksheet 1 and how to use it.

Heads up! There are a few changes in Form 941 for Quarter 3,2020.

Access our resource center for more information about tax relief due to COVID-19. Visit Now

Access our resource center for more information about tax relief due to COVID-19. Visit Now

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