The IRS recently released an update to Form 941-X and the accompanying instructions. Form 941-X is the form for reporting Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund to the IRS. Generally, the form is updated yearly.
This year, the updates to the form are in conjunction with the expiration of the social security tax deferrals and the discontinuation of Form 941-SS in December of 2023. Throughout the updated form, references to the deferrals and to Form 941-SS have been removed. In some cases, lines used for the social security deferral and related provisions have been cleared and are now reserved for future use.
The instructions received updates that were primarily in conjunction with the changes to the form itself. Instructions relating to the discontinued Form 941-SS have been removed along with instructions for lines 24, 33a, 33b, and 34 have been removed from the document along with removal of any instructions relating to the qualified wages, social security deferral, and qualified health plan expenses lines elsewhere throughout the instructions.
For more information about Form 941-X and links to the form and instructions, click here.
