Instructions corresponding to the further-revised Form 941 (PR), Employer’s Quarterly Federal Tax Return (Puerto Rico Version), were released Oct. 16 by the Internal Revenue Service.
The instructions, which are in Spanish, are to be used in conjunction with filing the third version of Form 941 (PR) for 2020, i.e., the version to be used for the third and fourth quarters of 2020.
The establishment of the ability to defer the employee portion of Social Security tax necessitated updates to Form 941 (PR) and its instructions.
The changes to the instructions for Form 941 (PR) parallel those that were made to the instructions for the standard Form 941 to accommodate reporting of data regarding deferrals of the employee portion of Social Security tax.
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