IRS Releases 2019 Quarterly Tax Return

The 2019 Form 941, Employer’s Quarterly Federal Tax Return, was released Feb. 12 by the Internal Revenue Service.

The form is mostly unchanged from the 2018 version.

For tax years starting Jan. 1, 2016 and later, a qualified small business may elect to claim up to $250,000 of its credit for increasing research activities as a payroll tax credit against the employer share of Social Security tax.

Instructions for Form 941 were published Feb. 13.