Nebraska Releases Updated Form 941N and Form 501N

Paul Ogawa
December 6, 2021

Nebraska recently updated forms 941N and 501N for tax year 2021. Form 941N is the Nebraska Income Tax Withholding Return, used for employers to report withholding to Nebraska. Form 501N is for Nebraska Monthly Income Tax Withholding Deposit. The most notable changes are below.

• Various wording changes
• Taxpayers under the ImagiNE Nebraska Act added to those who qualify for overpayment credit
• Overpayment is not allowed to offset income liability until a 0.5% administrative fee, calculated on Form 1107F

• “Date” and “Daytime Phone” fields switched
• Information regarding electronic payment removed

To view Form 941N, click here.

To view Form 501N, click here.

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Paul Ogawa

Paul Ogawa is a Senior Regulatory Counsel at Sovos Compliance. As part of the Regulatory Analysis team, his main areas of focus are state and federal tax withholding, the Affordable Care Act (ACA), and Canadian tax information reporting. Prior to Sovos, Paul worked as a litigation attorney in Boston area law firms, representing clients in insurance subrogation claims, family law matters, and employment disputes. Paul is a member of the Massachusetts Bar, earned his B.A. from Brandeis University and his J.D. from the Suffolk University Law School.
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