Who must complete Worksheet 1 of 941?
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Last modified 4/24/2023 5:07:27 AM EST |
Added by TaxBandits Team
Applicable To
94X
1099
W-2
ACA
W-4
If you are an employer who files Form 941 and is eligible for credits under CARES Act and Employees Retention Credit, you may have to use Worksheet 1. This Worksheet 1 is a valuable tool for calculation when employers want to claim refundable tax credits due to COVID-19. For example, you can calculate the following COVID-19-related tax credits using the worksheet.
- The sick leave credits
- The family leave credits
- The employee retention credits
This worksheet helps you determine refundable and non-refundable portions of the above credits. Worksheet 1 is built into TaxBandits Form 941 filing flow for easy calculation.
Get started with TaxBandits today to e-file Form 941.