IRS Finalizes Updates to Form 941 for COVID-19 Tax Credits
The IRS has worked diligently to modify Form 941 to accommodate the changing laws around the COVID-19 pandemic. As of July 1, 2020, the IRS finalized the 941 Quarter 2 form. The form and instructions were posted just in time for employers’ federal tax returns for quarter 2 filings (which have a due date of July 31). For those that file or print through a software system, be sure to contact your provider to make sure that the system can accommodate these updates.
Our COVID-19 Response Task Force at Integrity Data has been keeping a close eye on the latest developments and legislation affecting your payroll and HR departments. For Microsoft Dynamics GP payroll users: we’ve put together some best practices to help you handle these changes, see the blogs below.