12/13/2022 12:17:37 PM . The employer is required to do the reporting and payment of employment taxes with respect to the qualified sick leave wages and claim the credit for the qualified sick leave wages, unless the employer has an agency agreement with the third-party payer that requires the third-party payer to do the collecting, reporting, and/or paying or depositing employment taxes on the qualified sick leave wages. Any credit in excess of the remaining amount of the employer share of social security tax is refundable and reported on Form 941, line 13c. Multiply line 2g(iv) by 6.2% (0.062), Employer share of Medicare tax on qualified family leave wages. Quarterly Return of Maine Income Tax Withholding Instructions 2022 Maine Form 941ME Payroll processors who have authority to access, control, direct, transfer or disburse a client's funds must also provide evidence of a surety bond in an amount equal to the total of all local, state and federal tax payments and unemployment contributions remitted Also include here any excise taxes you were required to withhold on golden parachute payments (section 4999). There is no employer share of Additional Medicare Tax. In completing line 16 or Schedule B (Form 941), you take into account the entire quarter's nonrefundable portion of the credit for qualified sick and family leave wages paid this quarter of 2023 against the liability for the first payroll payment of the quarter, but not below zero. Your filing address may have changed from that used to file your employment tax return in prior years. Qualified health plan expenses allocable to qualified sick leave wages (Form 941, Part 3, Employer share of Medicare tax on qualified sick leave wages. The amount from Form 8974, line 12, or, if applicable, line 17, is reported on line 11a. 2012-18, 2012-26 I.R.B. For more information on electronic payment options, go to IRS.gov/Payments. Employers eligible to claim the credit for qualified sick and family leave wages paid this quarter of 2023 for leave taken after March 31, 2020, and before October 1, 2021, can reduce their deposits by the amount of their anticipated credit. For example, you may file Form 941 by May 10 if you made timely deposits in full payment of your taxes for the 1st quarter. Then reduce the liability for each successive payroll payment in the quarter until the nonrefundable portion of the credit is used. If you don't want to use EFTPS, you can arrange for your tax professional, financial institution, payroll service, or other trusted third party to make electronic deposits on your behalf. This amount is also entered on Worksheet 1, Step 2, line 2f. (Form 941), Employer's Annual Federal Unemployment Tax Return (Form 940), . For example, if youre a sole proprietor, enter Haleigh Smith on the Name line and Haleigh's Cycles on the Trade name line. This document is used by employers to report income taxes, social security tax, and Medicare tax withheld from employees' wages. Don't mail Form 8822-B with your Form 941. If line 12 is more than line 13g, enter the difference on line 14. The amount to be credited or refunded to you needs to be presented as a negative number in Column 4. If youre a monthly schedule depositor and accumulate a $100,000 tax liability on any day during the deposit period, you become a semiweekly schedule depositor on the next day and remain so for at least the rest of the calendar year and for the following calendar year. If you don't properly report your liabilities when required or if youre a semiweekly schedule depositor and enter your liabilities on line 16 instead of on Schedule B (Form 941), you may be assessed an averaged FTD penalty. See the instructions for, Enter the total wages, including qualified sick leave wages and qualified family leave wages paid this quarter of 2023 for leave taken after March 31, 2021, and before October 1, 2021; sick pay; and taxable fringe benefits subject to social security taxes you paid to your employees during the quarter. Employers with fewer than 500 employees and certain governmental employers without regard to number of employees (except for the federal government and its agencies and instrumentalities unless described in section 501(c)(1)) are entitled to a credit if they provide paid sick leave to employees that otherwise meets the requirements of the EPSLA, as amended for purposes of the ARP, and/or provide paid family leave to employees that otherwise meets the requirements under the Expanded FMLA, as amended for purposes of the ARP, for leave taken after March 31, 2021, and before October 1, 2021. You may reduce your deposits by the amount of the nonrefundable and refundable portions of the credit for qualified sick and family leave wages, as discussed earlier under Reducing your deposits for the credit for qualified sick and family leave wages. Product Number. See section 11 of Pub. For details and required documentation, see Rev. Form 941 may be signed by a duly authorized agent of the taxpayer if a valid power of attorney has been filed. To use the same-day wire payment method, you will need to make arrangements with your financial institution ahead of time. If you pay wages subject to federal income tax withholding or social security and Medicare taxes, you must file Form 941 quarterly to report the following amounts. For 2023, the rate of social security tax on taxable wages, except for qualified sick leave wages and qualified family leave wages paid in 2023 for leave taken after March 31, 2020, and before April 1, 2021, is 6.2% (0.062) each for the employer and employee or 12.4% (0.124) for both. Rul. For purposes of this credit, qualified sick leave wages and qualified family leave wages are wages for social security and Medicare tax purposes, determined without regard to the exclusions from the definition of employment under sections 3121(b)(1)(22), that an employer pays that otherwise meet the requirements of the EPSLA or Expanded FMLA, as enacted under the FFCRA and amended for purposes of the ARP. If you pay by check or money order, make it payable to United States Treasury. Enter your EIN, Form 941, and the tax period (1st Quarter 2023, 2nd Quarter 2023, 3rd Quarter 2023, or 4th Quarter 2023) on your check or money order. Churches file Form 941 four times a year to report income taxes, social security tax, or Medicare tax withheld from employees' paychecks. Who should file Form 941 2022? For more information about PDSs, see Where Should You File , later. Part 4:May We Speak With Your Third-Party Designee? hZmSFOo,e1s\9=|I (3t$i#Hc8D To notify employees about the EIC, you must give the employees one of the following items. 15. The nonrefundable portion of the credit for qualified sick and family leave wages for the quarter is $10,000. Include as a negative adjustment on line 9 the total uncollected employee share of the social security and Medicare taxes. 15. Take note: the revised version of Form 941 was released on January 26, 2022, but it's not yet ready for filing. The COVID-19 related credit for qualified sick and family leave wages is limited to leave taken after March 31, 2020, and before October 1, 2021. Also enter your name and EIN on the top of pages 2 and 3. You may also apply for an EIN by faxing or mailing Form SS-4 to the IRS. Enter the qualified sick leave wages you paid this quarter of 2023 to your employees for leave taken after March 31, 2021, and before October 1, 2021, including any qualified sick leave wages that were above the social security wage base and any qualified sick leave wages excluded from the definition of employment under sections 3121(b)(1)(22). CPEOs must generally file Form 941 and Schedule R (Form 941), Allocation Schedule for Aggregate Form 941 Filers, electronically. The authorization will automatically expire 1 year from the due date (without regard to extensions) for filing your Form 941. Reminders Use the March 2022 revision of Form 941 only to report taxes for the quarter ending March 31, 2022. For more information about these procedures, see Rev. Instructions for Form 941-SS, Employer's Quarterly Federal Tax Return - American Samoa, Guam, the Commonwealth of the Northern Mariana Islands, and the U.S. Virgin Islands. Important Information. For leave taken after March 31, 2021, and before October 1, 2021, the credit for qualified sick and family leave wages is reduced by the amount of the credit allowed under section 41 (for the credit for increasing research activities) with respect to wages taken into account for determining the credit for qualified sick and family leave wages; and any wages taken into account in determining the credit for qualified sick and family leave wages can't be taken into account as wages for purposes of the credits under sections 45A, 45P, 45S, and 51. If you participated in a statutory merger or consolidation, or qualify for predecessor-successor status due to an acquisition, you should generally file Schedule D (Form 941), Report of Discrepancies Caused by Acquisitions, Statutory Mergers, or Consolidations. Certification as a CPEO may affect the employment tax liabilities of both the CPEO and its customers. 15. If any due date for filing falls on a Saturday, Sunday, or legal holiday, you may file your return on the next business day. To use the same-day wire payment method, you will need to make arrangements with your financial institution ahead of time. If you would mail your return filed without a payment to Ogden, as shown under Where Should You File , later, send your request to the Ogden address shown above. Inst 941 (Schedule B) Instructions for Schedule B (Form 941), Report of Tax Liability for Semiweekly Schedule Depositors. No software installation. A CPEO is generally treated for employment tax purposes as the employer of any individual who performs services for a customer of the CPEO and is covered by a contract described in section 7705(e)(2) between the CPEO and the customer (CPEO contract), but only for wages and other compensation paid to the individual by the CPEO. Do whatever you want with a Instructions for Form 941 (Rev. For more information, see section 10 of Pub. Form 941-X is filed separately from Form 941. To request approval to act as an agent for an employer, the agent files Form 2678 with the IRS unless you're a state or local government agency acting as an agent under the special procedures provided in Rev. Box 2 - Choosing Quarter In box 2, choose a quarter for which Form 941 is being filed. Multiply line 2a(iv) by 6.2% (0.062). 15 for details. Instructions for Form 941-SS, Employer's Quarterly Federal Tax Return - American Samoa, Guam, the Commonwealth of the Northern Mariana Islands, and the U.S. Virgin Islands . Make sure the quarter checked is the same as shown on any attached Schedule B (Form 941), Report of Tax Liability for Semiweekly Schedule Depositors, and, if applicable, Schedule R (Form 941). See the instructions for, For purposes of the credit for qualified sick and family leave wages, qualified sick leave and family leave wages are wages for social security and Medicare tax purposes, determined without regard to the exclusions from the definition of employment under sections 3121(b)(1)(22), that an employer pays that otherwise meet the requirements of the Emergency Paid Sick Leave Act (EPSLA) or the Emergency Family and Medical Leave Expansion Act (Expanded FMLA), as enacted under the FFCRA and amended for purposes of the ARP. By checking Yes, you authorize the IRS to talk to the person you named (your designee) about any questions we may have while we process your return. If line 15 is under $1, we will send a refund or apply it to your next return only if you ask us in writing to do so. * . You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. Step 6: Figure your balance Line 8 Follow the instructions on the form. Enter the tax due from your Section 3121(q) Notice and Demand on line 5f. 2. Form 941 PDF. Partnership (including an LLC treated as a partnership) or unincorporated organizationA responsible and duly authorized partner, member, or officer having knowledge of its affairs. Include sick pay paid by your agent. If You Sell or Transfer Your Business . Use Form 843 to request abatement of assessed penalties or interest. If you want to allow an employee, a paid tax preparer, or another person to discuss your Form 941 with the IRS, check the Yes box in Part 4. 8. Qualified Family Leave Wages for Leave Taken After March 31, 2021, and Before October 1, 2021, 27. If you discover an error on a previously filed Form 941, or if you otherwise need to amend a previously filed Form 941, make the correction using Form 941-X. If you haven't received your EIN by the due date of Form 941, file a paper return and write Applied For and the date you applied in this entry space. A substitute Form W-2 with the same EIC information on the back of the employee's copy that is on Copy B of the IRS Form W-2. Your employees may be covered by law or by a voluntary Section 218 Agreement with the SSA. Any credit for qualified sick and family leave wages paid this quarter of 2023 for leave taken after March 31, 2020, and before April 1, 2021, that is remaining at the end of the quarter because it exceeds the employer share of social security tax for the quarter is claimed on line 13c as a refundable credit. Deposit or pay your taxes when they are due, unless you meet the requirements discussed in Notice 2020-22 and Notice 2021-24. The social security wage base limit is $160,200. On February 28, the IRS released: The revised 2022 Form 941, Employer's Quarterly Federal Tax Return, and its instructions; The instructions for Schedule B, Report of Tax Liability for Semiweekly Schedule Depositors; Schedule R, Allocation Schedule for Aggregate Form 941 Filers, and its instructions; The IRS updated the forms to reflect the expiration of COVID-19-related relief provisions at . Form 941 for 2022: (Rev. The amount of collectively bargained apprenticeship program contributions allocated to qualified sick leave wages and/or qualified family leave wages in a quarter is the apprenticeship program contribution rate (expressed as an hourly rate) multiplied by the number of hours qualified sick leave wages and/or qualified family leave wages were provided to employees covered under the collective bargaining agreement during the quarter. For more information, see the instructions for, Section 303(d) of the Taxpayer Certainty and Disaster Tax Relief Act of 2020 allows for a payroll tax credit for certain tax-exempt organizations affected by certain qualified disasters, The Stephen Beck, Jr., ABLE Act of 2014 required the IRS to establish a voluntary certification program for PEOs. Don't attach an explanation when you file your return. Enter the qualified family leave wages you paid this quarter of 2023 to your employees for leave taken after March 31, 2021, and before October 1, 2021, including any qualified family leave wages that were above the social security wage base and any qualified family leave wages excluded from the definition of employment under sections 3121(b)(1)(22). You must also withhold Additional Medicare Tax from wages you pay to an employee in excess of $200,000 in a calendar year. CPEOs must generally file Form 941 and Schedule R (Form 941) electronically. 15 for information about payments made under the accuracy of deposits rule and for rules about federal tax deposits. Qualified family leave wages for leave taken after March 31, 2020, and before April 1, 2021, aren't subject to the employer share of social security tax; therefore, the tax rate on these wages is 6.2% (0.062). endobj Penalties and interest are charged on taxes paid late and returns filed late at a rate set by law. A draft version of the 2022 Form 941, Employer's Quarterly Federal Tax Return, was released Jan. 26 by the Internal Revenue Service. Youre encouraged to file Form 941 electronically. Any credit in excess of the remaining amount of the employer share of Medicare tax is refundable and reported on Form 941, line 13e. The refundable portion of the credit is allowed after the employer share of social security tax is reduced to zero by nonrefundable credits that are applied against the employer share of social security tax. 2017-14, 2017-3 I.R.B. PEOs handle various payroll administration and tax reporting responsibilities for their business clients and are typically paid a fee based on payroll costs. Pubs. If you want to expand your designee's authorization, see Pub. You must complete Schedule B (Form 941) and submit it with your Form 941. For more information on paying your taxes using EFW, go to, You can pay the balance due shown on Form 941 by credit or debit card. This may result in penalties. Don't use a credit or debit card to make federal tax deposits. Employers with fewer than 500 employees and, for leave taken after March 31, 2021, and before October 1, 2021, certain governmental employers without regard to number of employees (except for the federal government and its agencies and instrumentalities unless described in section 501(c)(1)) are entitled to a credit if they provide paid sick leave to employees that otherwise meets the requirements of the EPSLA. Complete and mail Form 8822-B to notify the IRS of a business address or responsible party change. When two businesses merge, the continuing firm must file a return for the quarter in which the change took place and the other firm should file a final return. Social security and Medicare tax for 2023. For e-file, go to IRS.gov/EmploymentEfile for additional information. Social security and Medicare taxes apply to election workers who are paid $2,200 or more in cash or an equivalent form of compensation in 2023. Federal law requires you, as an employer, to withhold certain taxes from your employees' pay. Maple Co. paid qualified sick and family leave wages on January 6 and January 20 for leave taken after March 31, 2020, and before April 1, 2021. To become and remain certified under the certification program, certified professional employer organizations (CPEOs) must meet various requirements described in sections 3511 and 7705 and related published guidance. Instead, report them on Form 8027. Approved section 3504 agents and CPEOs must complete and file Schedule R (Form 941) when filing an aggregate Form 941. Federal tax deposits must be made by electronic funds transfer (EFT). If you downloaded or printed the 2022 Instructions for Form 1040 (and 1040-SR) prior to January 20, 2023, please be advised that the instructions for reporting digital asset transactions and the instructions for Form 1099-K loss reporting have been revised. Don't send Form 941 or any payments to the SSA. This amount is also entered on Worksheet 2, Step 2, line 2b. B(9L[soj,{M`~/>3Dda4_noQ- 2022. See section 6 of Pub. Rose Co. is an employer with a calendar tax year that filed its timely 2022 income tax return on April 18, 2023. If you file Form 941 electronically, you can e-file and use EFW to pay the balance due in a single step using tax preparation software or through a tax professional. Below is a summary of the new fields on the form and how Accounting CS populates those fields. You can get forms and publications faster online. 15. For more information on paying with a timely filed return, see the instructions for line 14, later. Revision Date. Pub. Please check with your financial institution regarding availability, deadlines, and costs. 51, 80, and 179 discontinued after 2023. Our Agency . The second part of the template is the Payment Voucher which must be completed if the employer makes a payment with this record. The new owner's name (or the new name of the business); Whether the business is now a sole proprietorship, partnership, or corporation; The kind of change that occurred (a sale or transfer); The name of the person keeping the payroll records and the address where those records will be kept. These qualified health plan expenses are amounts paid or incurred by the employer to provide and maintain a group health plan but only to the extent such amounts are excluded from the employees income as coverage under an accident or health plan. For additional information, see Rev. See the instructions for. Total Deposits and Refundable Credits, Part 2:Tell Us About Your Deposit Schedule and Tax Liability for This Quarter. See section 6 of Pub. The IRS will process your order for forms and publications as soon as possible. Employees may use Form 4070 (available only in Pub. For more information about exempt wages, see section 15 of Pub. Seasonal employers don't have to file a Form 941 for quarters in which they have no tax liability because they have paid no wages. A son or daughter includes a biological child, adopted child, stepchild, foster child, legal ward, or a child for whom the employee assumes parental status and carries out the obligations of a parent. For more information, see the Instructions for Form 941-X, section 13 of Pub. Go to IRS.gov/PDS for the current list of PDSs. If line 12 is less than $2,500 or line 12 on the prior quarterly return was less than $2,500, and you didn't incur a $100,000 next-day deposit obligation during the current quarter, check the first box on line 16 and go to Part 3. Enter the federal income tax you withheld (or were required to withhold) from your employees on this quarter's wages, including qualified sick leave wages paid this quarter of 2023 for leave taken after March 31, 2020, and before October 1, 2021, and qualified family leave wages paid this quarter of 2023 for leave taken after March 31, 2020, and before October 1, 2021; tips; taxable fringe benefits; and supplemental unemployment compensation benefits. See Worksheet 2 to figure your credit. Use Worksheet 1 to figure the credit for leave taken after March 31, 2020, and before April 1, 2021. Spend less time worrying about taxes and more time running your business. For more information on tips, see section 6 of Pub. For more information on paying your taxes using EFW, go to IRS.gov/EFW. Beginning in 2024, there will be a new Pub. After you file your first Form 941, you must file a return for each quarter, even if you have no taxes to report, unless you filed a final return or one of the exceptions listed next applies. If you reported $50,000 or less in taxes during the lookback period, youre a monthly schedule depositor unless the $100,000 Next-Day Deposit Rule discussed in section 11 of Pub. For more information about qualified family leave wages, go to IRS.gov/PLC. Your employee must report cash tips to you by the 10th day of the month after the month the tips are received. Use the March 2023 revision of Form 941 to report taxes for the first quarter of 2023; don't use an earlier revision to report taxes for 2023. %%EOF Legal holidays in the District of Columbia are provided in section 11 of Pub. Total Taxes After Adjustments and Nonrefundable Credits, 13c. Notice 797. If you work for a firm, enter the firm's name and the EIN of the firm. If your installment agreement is accepted, you will be charged a fee and you will be subject to penalties and interest on the amount of tax not paid by the due date of the return. Instructions: Tips: More Information: Enter a term in the Find Box. Qualified sick leave wages for leave taken after March 31, 2020, and before April 1, 2021, aren't subject to the employer share of social security tax; therefore, the tax rate on these wages is 6.2% (0.062). CPEOs must generally file Form 941 and Schedule R (Form 941), Allocation Schedule for Aggregate Form 941 Filers, electronically. 2022 Form 941: Employer's Quarterly Federal Tax Return 2021 Form 941 . You must complete all three pages of Form 941 and sign on page 3. However, qualified health plan expenses dont include amounts that the employee paid for with after-tax contributions. 1 Number of employees who received wages, tips, or other . See the instructions for line 5c for reporting Medicare tax on qualified sick leave wages, including the portion above the social security wage base. However, continue to withhold income and Medicare taxes for the whole year on all wages, including qualified sick leave wages paid in 2023, qualified family leave wages paid in 2023, and tips, even when the social security wage base of $160,200 has been reached. Use 10-point Courier font (if possible) for all entries if youre typing or using a computer to complete your form. Starting in the first quarter of 2023, the payroll tax credit is first used to reduce the employer share of social security tax up to $250,000 per quarter and any remaining credit reduces the employer share of Medicare tax for the quarter. Form CT-941 Instructions (Rev. Report unemployment taxes on Form 940, Employer's Annual Federal Unemployment (FUTA) Tax Return. For details about the difference between tips and service charges, see Rev. Forms 941-SS and 941-PR discontinued after 2023. To tell the IRS that a particular Form 941 is your final return, check the box on line 17 and enter the final date you paid wages in the space provided. Current quarter's adjustment for fractions of cents. Employer share of social security and Medicare tax allocable to the qualified sick and family leave wages. Enter all wages, including qualified sick leave wages paid this quarter of 2023 and qualified family leave wages paid this quarter of 2023; tips; sick pay; and taxable fringe benefits that are subject to Additional Medicare Tax withholding. See the instructions for line 11b for information about the credit for qualified sick and family leave wages for leave taken after March 31, 2020, and before April 1, 2021. Notice 797, Possible Federal Tax Refund Due to the Earned Income Credit (EIC). 3634 0 obj What if You Reorganize or Close Your Business? Also include in the amount shown any overpayment that you applied from filing Form 941-X, 941-X (PR), 944-X, or 944-X (SP) in the current quarter. If you file a paper return, where you file depends on whether you include a payment with Form 941. Line 14 - Calculate balance due, if any. A son or daughter must generally have been under 18 years of age or incapable of self-care because of a mental or physical disability. p wC %m66(E+,#Tm9NbD0$I"B=4"! See the instructions for line 11b for information about the credit for qualified sick and family leave wages for leave taken after March 31, 2020, and before April 1, 2021. Type or print within the boxes. Doing so enhances the accuracy of our scanning software. You can pay the liability in full in 24 months. 19. You can apply for a PTIN online or by filing Form W-12. 82, available at, Electronic Federal Tax Payment System (EFTPS), Instructions for Form 941 - Introductory Material, Requesting To File Forms 941 Instead of Form 944, or Requesting To File Form 944 Instead of Forms 941. hbbd```b``]"H fOl e%y`R0ln03< 6H2F% . Employers use Form 941 to: Report income taxes, Social Security tax, or Medicare tax withheld from employee's paychecks. 15 for more information. Section 303(d) of the Taxpayer Certainty and Disaster Tax Relief Act of 2020 allows for a payroll tax credit for certain tax-exempt organizations affected by certain qualified disasters not related to COVID-19. 2005-39, 2005-28 I.R.B. IL-941 Instructions (R-12/22) Page 2 of 10 Form IL-941 Information and Instructions. Otherwise, you can go to IRS.gov/OrderForms to place an order and have them mailed to you. Qualified sick leave wages reported on Form 941, Part 1, Qualified sick leave wages included on Form 941, Part 1, line 5c, but not included on Form 941, Part 1, line 5a(i), column 1, because the wages reported on that line were limited by the social security wage base, Total qualified sick leave wages. Please check with your financial institution regarding availability, deadlines, and costs. 664, available at IRS.gov/irb/2020-17_IRB#NOT-2020-22; and Notice 2021-24, 2021-18 I.R.B. The Inflation Reduction Act of 2022 (the IRA) increases the election amount to $500,000 for tax years beginning after December 31, 2022. All wages that are subject to Medicare tax are subject to Additional Medicare Tax withholding if paid in excess of the $200,000 withholding threshold. If you paid qualified sick leave wages and/or qualified family leave wages this quarter of 2023 for leave taken after March 31, 2020, and before April 1, 2021, complete Step 1 and Step 2. Use the Cross or Check marks in the top toolbar to select your answers in the list boxes. The refundable portion of the credit doesnt reduce the liability reported on line 16 or Schedule B (Form 941). The nonrefundable portion of the credit for qualified sick and family leave wages paid this quarter of 2023 for leave taken after March 31, 2021, and before October 1, 2021, is limited to the employer share of Medicare tax on wages paid in the quarter that is remaining after that share is first reduced by any credit claimed against the employer share of Medicare tax on Form 8974, line 16, for the qualified small business payroll tax credit for increasing research activities.
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