Are there any changes in Form 941 for Quarter 2, 2022?
248 views | Last modified 7/8/2022 12:01:35 AM EST

Yes, Form 941 has been frequently updated and changed to reflect the tax credits available to employers since the COVID-19 pandemic began. Both the CARES Act and the American Rescue Plan Act established tax credits that employers could use to help alleviate the economic effects of the pandemic. These credits are required to be reported on Form 941 quarterly. 

As the pandemic subsides, assistance programs for employers and employees are beginning to expire. Form 941 will continue to be updated to reflect how employers are required to submit withholdings and tax credits to the IRS as older versions expire. This is true of the updates for the second quarter of 2022.