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Form 941 Covid-19 changes
The IRS has released an updated version of Form 941 for the 2nd through 4th quarters of 2020, the 1st quarter 2021, the 2nd through 4th quarters of 2021, and the 1st quarter of 2022 and later. Below is a summary of the new fields on the form and how Accounting CS populates those fields.
1st quarter 2022 changes
Worksheets 1 and 2 for 2022 are available on pages 22 through 24 of the instructions for Form 941. We've added informational diagnostics for Worksheets 1 and 2. Accounting CS will not perform Worksheet 3 calculations. Lines 11c, 13d, 13h, 13i, 21, and 22 are now reserved for future use.
New and changed lines | Notes |
|---|---|
Line 11e: Nonrefundable portion of COBRA premium assistance credit | This amount is the same as line 2e from Worksheet 3 and must be entered manually. |
Line 11f: Number of individuals provided COBRA premium assistance | This number must be manually entered. |
Line 11g: Total nonrefundable credits | The sum of lines 11a, 11b, 11d, and 11e. |
Line 13f: Refundable portion of COBRA premium assistance credit | This amount is the same as line 2f from Worksheet 3 and must be entered manually. |
Line 13g: Total deposits and refundable credits | The sum of lines 13a, 13c, 13e, and 13f. |
Line 14: Balance due | If line 12 is greater than line 13g, Accounting CS will enter the difference here. |
Line 15: Overpayment | If line 13g is greater than line 12, Accounting CS will enter the difference here. |
New lines added for the 2nd quarter 2021
Worksheets 1 through 5 for 2021 are available on pages 25 through 29 of the instructions for Form 941. We've put together a 941 spreadsheet calculator 2021 Q2-Q4 to help you with the calculations the program performs behind the scenes. With the addition of new lines, some lines were moved to a different page.
New line | Notes |
|---|---|
Line 11e: Nonrefundable portion of COBRA premium assistance credit | This amount is the same as line 2g from Worksheet 5. |
Line 11f: Number of individuals provided COBRA premium assistance | Enter this number in the Number of Individuals field for the quarter in the Federal 94X Information (ARPA) section on Setup > Clients > COVID-19 Acts tab. Accounting CS carries over the amount for the quarter to the 941. |
Line 11g: Total nonrefundable credits | The sum of lines 11a, 11b, 11c, 11d, and 11e. |
Line 13h: Total advances received from filing Form(s) 7200 for the quarter | Enter this amount in the Form 7200 Payment Information grid on the COVID-19 Acts tab on the Setup > Clients screen. Accounting CS carries over the amount for the quarter to the 941. |
Line 13i: Total deposits and refundable credits less advances | Subtracts line 13h from line 13g |
Line 18b: Eligible for employee retention credit solely because your business is a recovery startup business | Mark this box if you're eligible for employee retention credit solely because your business is a recovery startup business. |
Line 24: Qualified health plan expenses allocable to qualified sick leave wages reported on line 23 | Enter this amount in the Sick Leave Wages field for the quarter in the Federal 94X Information (ARPA) section on Setup > Clients > COVID-19 Acts tab for health plan expenses allocable to special type ARPA related wages. Accounting CS carries over the amount for the quarter to the 941. |
Line 25: Amounts under certain collectively bargained agreements allocable to qualified sick leave wages reported on line 23 | Enter this amount in the Sick Leave Wages field for the quarter in the Federal 94X Information (ARPA) section on Setup > Clients > COVID-19 Acts tab for collectively bargained agreements allocable to qualified sick leave wages. Accounting CS carries over the amount for the quarter to the 941. |
Line 26: Qualified family leave wages for leave taken after March 31, 2021 | Accounting CS calculates the amount from employee pay items that are set up with the special type ARPA extended care. |
Line 27: Qualified health plan expenses allocable to qualified family leave wages reported on line 26 | Enter this amount in the Family Leave Wages field for the quarter in the Federal 94X Information (ARPA) section on Setup > Clients > COVID-19 Acts tab for health plan expenses allocable to special type ARPA related wages. Accounting CS carries over the amount for the quarter to the 941. |
Line 28: Amounts under certain collectively bargained agreements allocable to qualified family leave wages reported on line 26 | Enter this amount in the Family Leave Wages field for the quarter in the Federal 94X Information (ARPA) section on Setup > Clients > COVID-19 Acts tab for collectively bargained agreements allocable to qualified family leave wages. Accounting CS carries over the amount for the quarter to the 941. |
2nd quarter 2021 changes
Changed line | Notes |
|---|---|
Line 11c: Nonrefundable portion of employee retention credit | This amount is the same as 2h from Worksheet 2 or Worksheet 4. |
Line 11d: Nonrefundable portion of credit for qualified sick and family leave wages for leave taken after March 31, 2021 | This amount is the same as line 2r from Worksheet 3. |
Line 12: Total taxes after adjustments and nonrefundable credits | Subtracts line 11g from line 10 |
Line 13d: Refundable portion of employee retention credit | This amount is the same as line 2i from Worksheet 2 or Worksheet 4 |
Line 13e: Refundable portion of credit for qualified sick and family leave wages for leave taken after March 31, 2021 | This amount is the same as line 2s from Worksheet 3 |
Line 13f: Refundable portion of COBRA premium assistance credit | This amount is the same as line 2h from Worksheet 5 |
Line 13g: Total deposits and refundable credits | The sum of lines 13a, 13c, 13d, 13e, and 13f. |
Line 14: Balance due | If line 12 and more than line 13i, Accounting CS will enter the difference here. |
Line 15: Overpayment | If line 13i is more than line 12, Accounting CS will enter the difference here. |
Line 23: Qualified sick leave wages for leave taken after March 31, 2021 | Accounting CS calculates the amount from employee pay items that are set up with the special type ARPA self-care and ARPA other care. |
1st quarter 2021 changes
Worksheet 1 for 2021 is available on page 20 of the instructions for Form 941. We've put together a 941 spreadsheet calculator 2021 to help you with the calculations the program performs behind the scenes.
Lines 13b, 24, and 25 are now reserved for future use.
3rd quarter 2020 changes
These changes were made available with Accounting CS v.2020.3.0, released on September 30, 2020.
- The selection box for quarters 1 and 2 are unavailable.
- Line 13b now reports the FICA-SS amounts for both employees and employers from the open liabilities for the period that have a deferred status.
- Line 24 now reports the employee FICA-SS amount from the open liabilities for the period that have a deferred status.
2nd quarter 2020 changes
The selection box for quarter 1 is unavailable. With the addition of new lines, some lines were moved to a different page.
Changed line | Notes |
|---|---|
Line 5e: Total social security and Medicare taxes | The sum of the values in column 2 of lines 5a, 5a(i), 5a(ii), 5b, 5c, and 5d. |
Line 12: Total taxes after adjustments and nonrefundable credits | Subtracts line 11d from line 10. If you have overrides on the form and this line isn't calculating correctly, you may need to refresh or print preview the form. |
Line 14: Balance due | f line 12 is greater than line 13g, line 14 shows the difference of those. If line 12 is less than line 13g, this is left blank. |
Line 15: Overpayment | If line 13g is greater than line 12, line 15 shows the difference of those. If line 13g is less than line 12, this is left blank. |
Line 16: Deposit schedule tax liability or Schedule B | Monthly (or daily, whichever applies) liabilities will be reduced by the value in line 11d (see below) in chronological order. |
New lines added for the 2nd quarter 2020
Worksheet 1 is available on page 20 of the instructions for Form 941. We've put together a 941 spreadsheet calculator to help you with the calculations the program performs behind the scenes. With the 2020.2.3 update, we've added informational diagnostics for Worksheet 1.
New lines | Notes |
|---|---|
Line 5a(i): Qualified sick leave wages | Accounting CS calculates the amount in Column 1 from employee pay items that are set up with the special type COVID-19 self-care and COVID-19 Other Care. This amount only includes amounts from the selected quarter up to the FICA-SS wage limit. This is 6.2% only as taxed only on Employee portion.
note
Column 2 is the amount from column 1 multiplied by 0.062. Accounting CS performs this calculation for you. |
Line 5a(ii): Qualified family leave wages | Accounting CS calculates the amount in Column 1 from employee pay items that are set up with the special type COVID-19 extended child care. This amount only includes amounts from the selected quarter up to the FICA-SS wage limit. This is 6.2% only as taxed only on Employee portion. Accounting CS calculates the amount in Column 1 from employee pay items that are set up with the special type COVID-19 extended child care. This amount only includes amounts from the selected quarter up to the FICA-SS wage limit. This is 6.2% only as taxed only on Employee portion. |
Line 11b: Nonrefundable portion of credit for qualified sick and family leave wages from Worksheet 1 | This amount is the same as line 2j from Worksheet 1. |
Line 11c: Nonrefundable portion of employee retention credit from Worksheet 1 | This amount is the same as line 3j from Worksheet 1. |
Line 11d: Total nonrefundable credits | The sum of lines 11a, 11b, and 11c. |
Line 13b: Deferred amount of the employer share of social security tax | Accounting CS reports the ERFICA-SS amount from open liabilities from the processing period that have a status of Deferred. You can see these liabilities on the Manage Payroll Liabilities screen. They'll have the Deferred column marked. |
Line 13c: Refundable portion of credit for qualified sick and family leave wages from Worksheet 1 | This amount is the same as line 2k from Worksheet 1. |
Line 13d: Refundable portion of employee retention credit from Worksheet 1 | This amount is the same as line 3k from Worksheet 1. |
Line 13e: Total deposits, deferrals, and refundable credits | The sum of lines 13a, 13b, 13c, and 13d. |
Line 13f: Total advances received from filing Form(s) 7200 for the quarter | Enter this amount in the Form 7200 Payment Information grid on the COVID-19 Acts tab on the Setup > Clients screen. Accounting CS carries over the amount for the quarter to the 941. |
Line 13g: Total deposits, deferrals, and refundable credits less advances | Subtracts line 13f from line 13e. |
Line 19: Qualified heath plan expenses allocable to qualified sick leave wages | Enter this amount in the Sick Leave Wages field for the quarter in the Federal 94X Information section on Setup > Clients > COVID-19 Acts tab. Accounting CS carries over the amount for the quarter to the 941. |
Line 20: Qualified health plan expenses allocable to qualified family leave wages | Enter this amount in the Family Leave Wages field for the quarter in the Federal 94X Information section on Setup > Clients > COVID-19 Acts tab. Accounting CS carries over the amount for the quarter to the 941. |
Line 21: Qualified wages for the employee retention credit | Accounting CS calculates this amount if there are any checkboxes marked in the Employee Retention Credit section in the COVID-19 Acts tab on the Setup > Clients screen. This amount is the total qualified ERFICA-SS taxable wages for that quarter under the $10,000 limit.
The first quarter qualifying period is only March 13 to March 31, 2020. You can quickly verify this amount using the Employee Retention Credit Summary report in the Accounting CS Report Library. |
Line 22: Qualified health plan expenses allocable to wages reported on line 21 | Enter the amount of qualified health plan expenses allocable to the wages reported on line 21.
note
You may need to reduce line 21 if qualified wages plus qualified health plan expenses reach the $10,000 limit for any employee. Accounting CS calculates up to the limit based on qualified wages; it does not account for the qualified health plan expenses. |
Line 23: Credit from Form 5884-C, line 11, for this quarter | Enter the amount from line 11 on Form 5884-C. |
Line 24: Qualified wages paid March 13 through March 31, 2020, for the employee retention credit (use this line only for the second quarter filing of Form 941) | When processing the second quarter, Accounting CS calculates this amount if you have the First quarter checkbox marked in the Employee Retention Credit section on the COVID-19 Acts tab of the Setup > Clients screen. |
Line 25: Qualified health plan expenses allocable to wages reported on line 24 (use this line only for the second quarter filing of Form 941) | When processing the second quarter, enter the amount of qualified health plan expenses allocable to the wages reported on line 24.
note You may need to reduce line 24 if qualified wages plus qualified health plan expenses reach the $10,000 limit for any employee. Accounting CS calculates up to the limit based on qualified wages; it does not account for the qualified health plan expenses. |
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