IRS Issues Draft Form to Accompany Employer Quarterly Tax Return

A draft version of a supplemental form that is to be used by employers filing 2020 quarterly federal income tax returns was released May 5 by the Internal Revenue Service.

Schedule R, Allocation Schedule for Aggregate Form 941 Filers, was adjusted to accommodate data reporting for payroll-related relief measures established by the Families First Coronavirus Response Act (FFCRA), enacted March 18, and the Coronavirus Aid, Relief, and Economic Security (CARES) Act, enacted March 27.

The schedule is to be filed with Form 941, Employers Quarterly Federal Income Tax Return, starting with the second quarter of 2020. A draft of ...