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IRS Released Draft Form 941-X

The IRS has issued a revised draft of Form 941-X, Adjusted Employer's Quarterly Federal Tax Return or Claim for Refund. The revision adds lines to allow for the correction of various credits reported on the most recent version of Form 941 for 2021, Employer's Quarterly Federal Tax Return (Rev. June 2021).

Lines 18a-d of the draft Form 941-X are used to correct the reporting of the nonrefundable portion of the employee retention credit, the nonrefundable portion of credit for qualified sick and family leave wages for leave taken after March 31, 2021, the nonrefundable portion of COBRA premium assistance credit and the number of individuals provided COBRA premium assistance.

Lines 26a-c of the draft Form 941-X are used to correct the reporting of the refundable portion of employee retention credit, the refundable portion of credit for qualified sick and family leave wages for leave taken after March 31, 2021, and the refundable portion of COBRA premium assistance credit. 

https://www.irs.gov/pub/irs-dft/f941x--dft.pdf

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