Draft Form 941-X Instructions Released by IRS

Draft instructions for Form 941-X, Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund, were released April 28 by the Internal Revenue Service.

The draft instructions were updated with reminders about the end of several Covid-19 employment tax credits. Among the guidance:

• The credits for qualified paid leave may not be claimed for leave taken after Sept. 30, 2021. However, employers still may claim the credits for wages paid in 2022 for leave taken after March 31, 2020, and before Oct. 1, 2021.
• The employee retention credit expired Dec. 31, 2021, for recovery startup businesses and Sept. 30, 2021, ...