Daily Tax Report ®

IRS Form: Agricultural Employers Annual Tax Return (IRC §3121)

Dec. 1, 2020, 5:00 AM

Form 943, Employer’s Annual Federal Tax Return for Agricultural Employees, and instructions released November 30 with significant changes to allow for the reporting of new employment tax credits and other tax relief related to Covid-19. The form has new lines for reporting: (1) the new credit for qualified sick and family leave wages; and (2) the new employee retention credit. A new worksheet helps determine the appropriate amount of the credits to report. Additionally, new lines are used to report employers, including government employers, deferral of the withholding and payment of the employee share of Social Security tax depending...

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