Finalized versions of the 2022 Form 941, its instructions, and schedules were issued Feb. 28 by the Internal Revenue Service.
Form 941, Employer’s Quarterly Federal Tax Return, was revised to take into account the limited availability of Covid-19 employment tax credits. The instructions were updated with requirements for claiming the remaining credits in 2022.
The credits for qualified paid sick and paid family leave wages may only be claimed for wages paid for leave taken after March 31, 2020, and before Oct. 1, 2021, the instructions said. However, employers that pay qualified wages in 2022 for leave taken in ...
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