Are there any changes to Form 941 for the second quarter of 2021?
189 views | Last modified 9/26/2023 6:03:18 AM EST | Added by TaxBandits Team

Yes, there are changes to Form 941 for the second quarter of 2021, and they are listed below:

Lines 5a, 5a(i), and 5a(ii) - Asterisks were included in each of these lines. In addition, the IRS encourages employers to Include taxable qualified sick and family leave wages for leave taken after March 31, 2021, on line 5a. Use lines 5a(i) and 5a(ii) only for wages paid after March 31, 2020, for leave taken before April 1, 2021.

Line 11b - This line is used to report the non-refundable portion of the credit for qualified sick and family leave wages for leave taken before April 1, 2021
 
Line 11d - Report the non-refundable portion of the credit for qualified sick and family leave wages for leave taken after March 31, 2021

Line 11e - This is a new line to report the non-refundable portion of COBRA premium assistance credit.

Line 11f - This is a new line to report the number of individuals provided COBRA premium assistance.

Line 11g - This is a new line to report total non-refundable credits. Add lines 11a, 11b, 11c, 11d, and 11e.

Line 13c - This line is updated to report the refundable portion of the credit for qualified sick and family leave wages for leave taken before April 1, 2021.

Line 13e - This line is updated to report the refundable portion of the credit for qualified sick and family leave wages for leave taken after March 31, 2021.

Line 13f - This line is changed to enter the Refundable portion of COBRA premium assistance credit.

Line 13g -  This line is used to report total deposits and refundable credits. No change to this; however, this line is calculated by adding lines 13a, 13c, 13d, 13e, and 13f.

Line 13h - This is a new line to report the total advances received from filing Form(s) 7200 for the quarter.

Line 13i - This is a new line to report the total deposits and refundable credits less advances. Subtract line 13h from line 13g.

Line 14 - This line is still used for calculating the Balance Due. The difference between lines 12 and 13i should be entered on this line.

Line 15 - This line is still used for calculating the overpayment. Difference between the lines 12 and 13i if 13i is more than 12.

Line 18b - Check this box if you’re eligible for the employee retention credit solely because your business is a recovery startup business.

Line 19 - Enter the qualified health plan expenses allocable to qualified sick leave wages for leave taken before April 1, 2021.

Line 20 - Enter the qualified health plan expenses allocable to qualified family leave wages for leave taken before April 1, 2021.

Line 23 - This line is used to report the qualified sick leave wages for leave taken after March 31, 2021.

Line 24 - This line is used to report the qualified health plan expenses allocable to qualified sick leave wages reported on line 23.

Line 25 - This line is used to report the amounts under certain collectively bargained agreements allocable to qualified sick leave wages reported on line 23.

Line 26 - This line is used to report the qualified family leave wages for leave taken after March 31, 2021.

Line 27 - Report the qualified health plan expenses allocable to qualified family leave wages reported on line 26.

Line 28 - Report the amounts under certain collectively bargained agreements allocable to qualified family leave wages reported on line 26.

Are you looking for an IRS-authorized e-file provider to file Form 941 for the second quarter of 2021? TaxBandits is here to assist you. We are now accepting Form 941 for the second quarter of 2021. E-file today!