Who must complete Worksheet 1 of 941?
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Last modified 2/28/2022 6:12:50 AM EST
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.