IRS Releases Revised Form 941, Instructions for Puerto Rico

A finalized version of Form 941 (PR), Employer’s Quarterly Federal Tax Return (Puerto Rico Version), was issued with instructions June 29 by the IRS.

The Spanish-language form and its instructions were updated to take into account the end of the COBRA premium assistance credit, which generally became unavailable at the end of the first quarter of 2022 but remains available after the first quarter in rare cases.

Form 941-X (PR), Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund (Puerto Rico Version), also was released with instructions.

Employers that become entitled to the COBRA premium assistance credit ...