IRS Issues Finalized Form 941 for 2nd to 4th Quarters of 2021

A finalized version of the revised Form 941 for use in the second through fourth quarters of 2021 was issued June 24 by the Internal Revenue Service.

Form 941, Employer’s Quarterly Federal Tax Return, was updated with multiple new and revised lines in order to incorporate provisions of the American Rescue Plan Act. The finalized form was not substantially revised from the draft version released May 25.

Changes to the form are to allow employers to report the refundable and nonrefundable portions of employment tax credits for qualified paid-sick or paid-family leave wages paid starting April 1, 2021, that ...