See the instructions for line 5c for reporting Medicare tax on qualified family leave wages, including the portion above the social security wage base. taxes for 2022. This amount is also entered on Worksheet 2, Step 2, line 2c. If you don't want to use EFTPS, you can arrange for your tax professional, financial institution, payroll service, or other trusted third party to make electronic deposits on your behalf. The nonrefundable portion of the credit is credited against the employer's share of the Medicare tax, and claimed on line 11c. See the instructions for line 11d, earlier, for more information about qualified sick leave wages for leave taken after March 31, 2021, and before October 1, 2021. Under the CARES Act, private-sector employers are allowed a refundable tax credit against employer Social Security tax equal to 50 percent of wages paid after March 12, 2020, up to $10,000 in wages per employee (i.e., a $5,000 credit per employee). 15, Employer's Tax Guide, beginning with the Pub. For more information on paying with a timely filed return, see the instructions for line 14, later. Form 8974 is used to determine the amount of the credit that can be used in the current quarter. In Part 2, check box 3. The IRS won't send notices to your designee. W-4 Line 5. Current quarter's adjustments for tips and group-term life insurance. 15. With the second quarter deadline for Form 941 approaching on July . Originally reported data from previously completed and saved Form 941 may be imported into Column 2, and into Schedule B if required (see Form 941-X instructions, as well as Schedule B instructions). If youre a monthly schedule depositor, complete the deposit schedule on line 16. If you meet the de minimis exception based on the prior quarter and line 12 for the current quarter is $100,000 or more, you must provide a record of your federal tax liability. 926 and Schedule H (Form 1040) for more information. The changes are necessary to account for and reconcile FFRCA and CARES Act Tax Credits, as well as advance payments of such credits using Form 7200. Worksheet 2 guides you through the calculations you need to do. A CPEO is generally treated for employment tax purposes as the employer of any individual who performs services for a customer of the CPEO and is covered by a contract described in section 7705(e)(2) between the CPEO and the customer (CPEO contract), but only for wages and other compensation paid to the individual by the CPEO. Complete this schedule if you are filing Form IL-941, Illinois Withholding Income Tax Return, and are entitled to any of the . See Notice 2020-22 and Notice 2021-24 for information on reducing deposits for certain credits. If line 12 is more than line 13g, enter the difference on line 14. Enter the result on line 6. These schedules tell you when a deposit is due after you have a payday. However, qualified health plan expenses don't include amounts that the employee paid for with after-tax contributions. Your employees may be covered by law or by a voluntary Section 218 Agreement with the SSA. 596, and IRS.gov/EIC. 1244), or submit a written statement or electronic tip record. Step 1 of Worksheet 4 helps employers determine their share of Medicare tax. Enter the refundable portion of the credit for qualified sick and family leave wages from Worksheet 1, Step 2, line 2k. Qualified sick leave wages and qualified family leave wages paid this quarter of 2023 for leave taken after March 31, 2021, and before October 1, 2021, are reported on line 5a. If changes in law require additional changes to Form 941, the form and/or these instructions may be revised. If you're a third-party payer of sick pay that isn't an agent (for example, an insurance company) and you're claiming the credit for qualified sick and family leave wages for amounts paid to your own employees, the amount of the employer share of social security tax reported on line 5a must be reduced by any adjustment you make on line 8 for the employer share of social security tax transferred to your client. Line 1g - Enter the amount from Form 8974, line 16, for this quarter. However, don't include any wages otherwise excluded under section 3121(b) when reporting qualified family leave wages on lines 5a(ii), 5c, and, if applicable, 5d. Your payment will be processed by a payment processor who will charge a processing fee. To request approval to act as an agent for an employer, the agent files Form 2678 with the IRS unless you're a state or local government agency acting as an agent under the special procedures provided in Rev. The authorization will automatically expire 1 year from the due date (without regard to extensions) for filing your Form 941. Next Page 2 Form 941 (Rev. Multiply line 2e(ii) by 1.45% (0.0145). Maple Co. is a semiweekly schedule depositor that pays employees every other Friday. File your initial Form 941 for the quarter in which you first paid wages that are subject to social security and Medicare taxes or subject to federal income tax withholding. Qualified Sick Leave Wages for Leave Taken After March 31, 2021, and Before October 1, 2021, 24. For more information on tips, see section 6 of Pub. This amount of the employer share of Medicare tax can also be reduced by the nonrefundable portion of the credit. your business. 15 for information about payments made under the accuracy of deposits rule. For leave taken after March 31, 2020, and before April 1, 2021, the total qualified family leave wages cant exceed $200 per day or $10,000 in the aggregate per employee. For more information on paying your taxes using EFW, go to, You can pay the balance due shown on Form 941 by credit or debit card. For more information, see, If you would mail your return filed without a payment to Ogden, as shown under, Your business should have only one EIN. The refundable portion of the credit doesnt reduce the liability reported on line 16 or Schedule B (Form 941). Contact Financial Aid. Qualified family leave wages for leave taken after March 31, 2020, and before April 1, 2021, aren't subject to the employer share of social security tax; therefore, the tax rate on these wages is 6.2% (0.062). If the payroll tax credit elected is more than Rose Co.'s share of social security tax on the first payroll payment of the quarter, the excess payroll tax credit would be carried forward to succeeding payroll payments in the third quarter until it is used against up to $250,000 of Rose Co.'s share of social security tax for the quarter. For more information, go to, Corporate officers or duly authorized agents may sign Form 941 by rubber stamp, mechanical device, or computer software program. 15. If youre a paid preparer, enter your Preparer Tax Identification Number (PTIN) in the space provided. The 18 new lines on the finalized version of the revised Form . Check the second box on line 16 and enter your tax liability for each month in the quarter. To become a CPEO, the organization must apply through the IRS Online Registration System at IRS.gov/CPEO. For details on the deposit rules, see section 11 of Pub. The nonrefundable portion of the credit for qualified sick and family leave wages paid this quarter of 2023 for leave taken after March 31, 2021, and before October 1, 2021, is limited to the employer share of Medicare tax on wages paid in the quarter that is remaining after that share is first reduced by any credit claimed against the employer share of Medicare tax on Form 8974, line 16, for the qualified small business payroll tax credit for increasing research activities. Phone: 303-404-5250. See the instructions for line 11b for information about the credit for qualified sick and family leave wages for leave taken after March 31, 2020, and before April 1, 2021. Make sure you fill-in the required info on page header, such as company name, EIN number, quarter and year. See the Instructions for Schedule D (Form 941) to determine whether you should file Schedule D (Form 941) and when you should file it. Enter adjustments for fractions of cents (due to rounding) relating to the employee share of social security and Medicare taxes withheld. See Worksheet 1 to figure your credit. 15. How to complete the Verification Worksheet Form 1 for Independent Students. Businesses needing an EIN must apply for a number and use it throughout the life of the business on all tax returns, payments, and reports. For more information about exempt wages, see section 15 of Pub. Fax: 303-678-3693 . Choose the date when you first detected the errors on your 941 Form. Simply click Done following double-examining . This share of social security and Medicare taxes isn't withheld from employees. For more information, go to IRS.gov/PLC. Respond to certain IRS notices that youve shared with your designee about math errors and return preparation. For example, if the form is for the first quarter, put an "X" in the box next to "January, February, March.". Enter the collectively bargained defined benefit pension plan contributions and collectively bargained apprenticeship program contributions allocable to qualified sick leave wages paid this quarter of 2023 for leave taken after March 31, 2021, and before October 1, 2021. Any credit for qualified sick and family leave wages paid this quarter of 2023 for leave taken after March 31, 2021, and before October 1, 2021, that is remaining at the end of the quarter because it exceeds the employer share of Medicare tax for the quarter is claimed on line 13e as a refundable credit. Additional information about EFTPS is also available in Pub. Enter the qualified health plan expenses allocable to qualified family leave wages paid this quarter of 2023 for leave taken after March 31, 2020, and before April 1, 2021. You may reduce your deposits by the amount of the nonrefundable and refundable portions of the credit for qualified sick and family leave wages, as discussed earlier under Reducing your deposits for the credit for qualified sick and family leave wages. For the latest information about developments related to Form 941 and its instructions, such as legislation enacted after they were published, go to IRS.gov/Form941. Report only the wages you paid. Employers wont be subject to an FTD penalty for reducing their deposits if certain conditions are met. . The amount of qualified health plan expenses generally includes both the portion of the cost paid by the employer and the portion of the cost paid by the employee with pre-tax salary reduction contributions. 426, available at IRS.gov/irb/2017-03_IRB#RP-2017-14. You must include the full amount (both the nonrefundable and refundable portions) of the credit for qualified sick and family leave wages in your gross income for the tax year that includes the last day of any calendar quarter in which a credit is allowed. To apply using the Online Payment Agreement Application, go to IRS.gov/OPA. Youre a monthly schedule depositor for the calendar year if the amount of your Form 941 taxes reported for the lookback period is $50,000 or less. The refundable portion of the credit doesnt reduce the liability reported on line 16 or Schedule B (Form 941). For more information about a Employees may use Form 4070 (available only in Pub. The tax due may have been determined from tips reported to the IRS on employees' Forms 4137, Social Security and Medicare Tax on Unreported Tip Income, or other tips that weren't reported to their employer as determined by the IRS during an examination. Line 11e: Nonrefundable portion of COBRA premium assistance . To get more information about EFTPS or to enroll in EFTPS, go to EFTPS.gov or call 800-555-4477. Form 941-X is filed separately from Form 941. Under an installment agreement, you can pay what you owe in monthly installments. For more information about a CPEOs requirement to file electronically, see Rev. Letter 3263 or Letter 4520 includes an attachment that shows the employer share of social security tax. 5d. Federal tax deposits must be made by electronic funds transfer (EFT). For more information, see the Instructions for Form 941-X, section 13 of Pub. Qualified health plan expenses allocable to qualified family leave wages (Form 941, Part 3, Employer share of Medicare tax on qualified family leave wages. Taxable wages & tips subject to Additional Medicare Tax withholding. Unlike social security wages, there is no limit on the amount of wages subject to Medicare tax. Thus, any employer who files the Quarterly Employment Tax Form to the IRS under CARES Act and Employees Retention Credit should use this Worksheet. Regardless of any boxes you check or don't check on line 15, we may apply your overpayment to any past due tax account that is shown in our records under your EIN. See section 6 of Pub. Add lines 2a and 2a(i), Qualified sick leave wages excluded from the definition of employment under sections 3121(b)(1)(22). 51, Agricultural Employers Tax Guide; Pub. However, you must check the box on line 18 on every Form 941 you file. After an employee takes leave for 10 days, the employer must provide the employee paid leave (that is, qualified family leave wages) for up to 10 weeks. Collectively bargained apprenticeship program contributions. Enter your tax liabilities in the month that corresponds to the dates you paid wages to your employees, not the date payroll liabilities were accrued or deposits were made. If the employer has an agency agreement with the third-party payer, the third-party payer includes the qualified sick leave wages on the third party's aggregate Form 941, claims the sick leave credit on behalf of the employer on the aggregate Form 941, and separately reports the credit allocable to the employers on Schedule R (Form 941). There are five parts that need to be completed on Revised Form 941: Part 1 This quarter (taxes and wages) Part 2 Your deposit schedule and tax liability for this quarter. If youre required to make deposits and instead pay the taxes with Form 941, you may be subject to a penalty. See section 6 of Pub. Note: You must also complete the entity information above Part 1 on Form 941. The EPSLA, as amended for purposes of the ARP, provides different limitations for different circumstances under which qualified sick leave wages are paid. The employer must include this amount on the appropriate line of the record of federal tax liability (Part 2 of Form 941 for a monthly schedule depositor or Schedule B (Form 941) for a semiweekly schedule depositor). Deposit the tax within the time period required under your deposit schedule to avoid any possible deposit penalty. For purposes of the credit for qualified sick and family leave wages, qualified sick leave wages are wages for social security and Medicare tax purposes, determined without regard to the exclusions from the definition of employment under sections 3121(b)(1)(22), that an employer pays that otherwise meet the requirements of the EPSLA, as enacted under the FFCRA and amended by the COVID-related Tax Relief Act of 2020. Form 8974 is used to determine the amount of the credit that can be used in the current quarter. Include all tips your employees reported during the quarter, even if you were unable to withhold the employee tax of 1.45%. Rose Co. is an employer with a calendar tax year that filed its timely 2022 income tax return on April 18, 2023. For leave taken after March 31, 2020, and before April 1, 2021, wages are qualified family leave wages if paid to an employee who has been employed for at least 30 calendar days when an employee is unable to work or telework due to the need to care for a son or daughter under 18 years of age or incapable of self-care because of a mental or physical disability because the school or place of care for that child has been closed, or the childcare provider for that child is unavailable, due to a public health emergency. Complete line 13c only if qualified sick leave wages and/or qualified family leave wages were paid this quarter of 2023 for leave taken after March 31, 2020, and before April 1, 2021. If you want to expand your designee's authorization, see Pub. CPEOs must generally file Form 941 and Schedule R (Form 941), Allocation Schedule for Aggregate Form 941 Filers, electronically. Photographs of missing children selected by the Center may appear in instructions on pages that would otherwise be blank. See the instructions for line 11d for information about the credit for qualified sick and family leave wages for leave taken after March 31, 2021, and before October 1, 2021. If you filed Form 944 in either 2021 or 2022, your lookback period is the 2021 calendar year. These instructions give you some background information about Form 941. Credit for qualified sick and family leave wages paid this quarter of 2023 for leave taken after March 31, 2020, and before October 1, 2021. If you're the common-law employer of the individuals that are paid qualified sick or family leave wages, you're entitled to the credit for the sick and family leave wages regardless of whether you use a third-party payer (such as a PEO, CPEO, or section 3504 agent) to report and pay your federal employment taxes. The election and determination of the credit amount that will be used against the employers payroll taxes are made on Form 6765, Credit for Increasing Research Activities. See Box 1Wages, tips, other compensation in the General Instructions for Forms W-2 and W-3 for details. The rate of Medicare tax is 1.45% (0.0145) each for the employer and employee or 2.9% (0.029) for both. For information about supplemental unemployment compensation benefits and golden parachute payments, see section 5 of Pub. Detach Here and Mail With Your Payment and Form 941. Worksheet 2 should be used by employers to calculate the Employee Retention Credit for the Second Quarter of 2021 Only (Wages Paid After . 1 Number of employees who received wages, tips, or other compensation for the pay . . For leave taken after March 31, 2021, and before October 1, 2021, the limit resets and the total qualified family leave wages can't exceed $200 per day or $12,000 in the aggregate per employee. Enter the qualified sick leave wages you paid this quarter of 2023 to your employees for leave taken after March 31, 2021, and before October 1, 2021, including any qualified sick leave wages that were above the social security wage base and any qualified sick leave wages excluded from the definition of employment under sections 3121(b)(1)(22). Amounts Under Certain Collectively Bargained Agreements Allocable to Qualified Sick Leave Wages Reported on Line 23, 26. Your financial institution may charge you a fee for payments made this way. See sections 11 and 12 of Pub. Don't file Schedule B (Form 941) with your Form 941 if youre a monthly schedule depositor. If your installment agreement is accepted, you will be charged a fee and you will be subject to penalties and interest on the amount of tax not paid by the due date of the return. Be sure to include the payroll periods of June 12 (if you are filling this out for the second quarter of 2021), September 12 (for the third quarter), and December 12 (for the fourth quarter). 15 for information about payments made under the accuracy of deposits rule and for rules about federal tax deposits. For the IRS mailing address to use if youre using a PDS, go to IRS.gov/PDSstreetAddresses. To make sure businesses comply with federal tax laws, the IRS monitors tax filings and payments by using a numerical system to identify taxpayers. I am trying to complete my 941 for Quarter 2 2020 and Worksheet 1 is no where to be found. Proc. The COVID-19 related credit for qualified sick and family leave wages is limited to leave taken after March 31, 2020, and before October 1, 2021. When two businesses merge, the continuing firm must file a return for the quarter in which the change took place and the other firm should file a final return. See Pub. Determine how you will complete this worksheet. The nonrefundable portion of the credit for qualified sick and family leave wages paid this quarter of 2023 for leave taken after March 31, 2020, and before April 1, 2021, is limited to the employer share of social security tax on wages paid in the quarter that is remaining after that share is first reduced by any credit claimed against the employer share of social security tax on Form 8974, line 12, for the qualified small business payroll tax credit for increasing research activities; any credit to be claimed on Form 5884-C, line 11, for the work opportunity credit for qualified tax-exempt organizations hiring qualified veterans; and/or any credit to be claimed on Form 5884-D for the disaster credit for qualified tax-exempt organizations. Enter the total wages, including qualified sick leave wages and qualified family leave wages paid this quarter of 2023 for leave taken after March 31, 2021, and before October 1, 2021; sick pay; and taxable fringe benefits subject to social security taxes you paid to your employees during the quarter. For more information, see section 12 of Pub. For Retro ERC, Use Form 941-X. To make sure the Worksheet 1 will populate when opening Form 941, you should claim . Checking the box tells the IRS not to expect four Forms 941 from you throughout the year because you haven't paid wages regularly. File Form W-3 and Copy A of Forms W-2 with the SSA on time and accurately. For more information, see Pub. Enter the amount of social security tax from Form 941, Part 1. Worksheets 1 through 5 for 2021 are available on pages 25 through 29 of the instructions for Form 941. Your business should have only one EIN. See the instructions for line 8 for an adjustment that you may need to make on Form 941 for sick pay. Importing Payroll Data. Additional Medicare Tax withheld from employees. The preparer must give you a copy of the return in addition to the copy to be filed with the IRS. Generally, the credit for qualified sick and family leave wages, as enacted under the Families First Coronavirus Response Act (FFCRA) and amended and extended by the COVID-related Tax Relief Act of 2020, for leave taken after March 31, 2020, and before April 1, 2021, and the credit for qualified sick and family leave wages under sections 3131, 3132, and 3133 of the Internal Revenue Code, as enacted under the American Rescue Plan Act of 2021 (the ARP) for leave taken after March 31, 2021, and before October 1, 2021, have expired. 2009-51, 2009-45 I.R.B. If it doesn't, your tax deposits and payments may not be counted as timely. 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