Form 941 Changes for 2nd Quarter 2021
Updated on June 09, 2021 - 10:30 AM by Admin, ExpressEfile
The IRS has released a new draft of Form 941 for the 2nd Quarter of the 2021 tax year. The American Rescue Plan Act of 2021 (ARP), signed into law on March 11, 2021, includes relief for employers and their employees during COVID-19. As always employers need to report COVID-19 credits on Form 941, so the IRS is planning to update the form to reflect the ARP. The drafted Form 941 includes changes to 23 fields, with provisions for COBRA premium assistance and qualified sick and family leave wages. Here is your guide to Form 941 changes for the second quarter of 2021.