Are there any changes in Worksheet 1 of Form 941 for Quarter 2, 2021?
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Last modified 4/24/2023 5:39:44 AM EST |
Added by TaxBandits Team
The IRS made several changes to Worksheet 1 of Form 941 for Quarter 2, 2021. Last quarter, the first quarter of 2021, Worksheet 1 had three different steps for employers to complete. This is no longer the case.
Step 1 of 941 Worksheet 1
The lines in Step 1 haven’t changed for the second quarter of 2021.
Step 2 of 941 Worksheet 1
In step 2 of Worksheet 1, lines 21(iii), 2e(iii), 2j, and 2k have been changed for Q2 of 2021.
|
Lines |
Q2 of 2021 | Q1 of 2021 |
|
2a(iii) |
Qualified sick leave wages excluded from the definition of employment under sections 3121(b)(1)–(22). | Qualified sick leave wages excluded from the definition of employment under section 3121(b). |
| 2e(iii) | Qualified family leave wages excluded from the definition of employment under sections 3121(b)(1)–(22). | Qualified family leave wages excluded from the definition of employment under section 3121(b). |
| 2j | Nonrefundable portion of credit for qualified sick and family leave wages for leave taken before April 1, 2021. Enter the smaller of line 1l or line 2i. Enter this amount on Form 941, Part 1, line 11b. | Nonrefundable portion of credit for qualified sick and family leave wages. Enter the smaller of line 1l or line 2i. Enter this amount on Form 941, Part 1, line 11b. |
| 2k | Refundable portion of credit for qualified sick and family leave wages for leave taken before April 1, 2021. Subtract line 2j from line 2i and enter this amount on Form 941, Part 1, line 13c. |
Refundable portion of credit for qualified sick and family leave wages. Subtract line 2j from line 2i and enter this amount on Form 941, Part 1, line 13c. |
The IRS completely removed step 3 of 941 Worksheet 1
Instead of Step 3 of Worksheet 1, a new worksheet, Worksheet 2, should be completed by 941 filers if they have provided wages eligible for the employee retention credit.
TaxBandits is ready for the second quarter of 2021. We have updated our filing process to include all new changes to the Form 941 and 941 Worksheets. So sign in to TaxBandits today to e-file Form 941 for the second quarter of 2021.