IRS Releases Draft Instructions for Form 941, Schedules

Draft instructions for Form 941 and its schedules to be used for all four quarters of 2024 were released Jan. 10 by the Internal Revenue Service.

Changes to Form 941, Employer’s Quarterly Federal Tax Return, include that lines for reporting qualified sick and family leave wages were removed “because it would be extremely rare for an employer to pay wages in 2024 for qualified sick and family leave taken after March 31, 2020, and before Oct. 1, 2021,” the IRS said in Form 941’s draft instructions. Such claims should be made on Form 941-X, Adjusted Employer’s Quarterly Federal Tax ...