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IRS Releases Draft Form 941 Series Instructions

IRS Releases Draft Form 941 Series Instructions

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there are many differences in the draft to form now for one released on April 30th 2020 as opposed to the last revised form released in January 2020 the form 941 is a quarterly form that all employers who pay wages subject to Social Security and income taxes withholding must file the purpose of form nine four one is to report these withholdings to the IRS to learn how to file Form nine four one with Express efile click the card above there are 23 additional data fields that have been added to this draft they are all related to the tax credits of the Kara's Act because these credits are crucial for some businesses to survive the current economic conditions the IRS is working to update the form now for one to accommodate tax credits and deferments here are the new information fields that you would need to understand when filing next quarter these lines 5-8 refer to the qualified sick leave or family leave under the families first coronavirus response AG lines 11 8 through 13 G ar

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