The Internal Revenue Service issued a new Form 941, the Employer’s Quarterly Federal Tax Return, for second quarter filings due August 2, 2021. The form has several new lines added to obtain credits for the COBRA subsidies offered under the American Rescue Plan Act (ARPA).
Additionally, some revisions have been made to align Form 941 with the extension and amendments made to the Emergency Paid Family Sick Leave and Extended FMLA provisions included in ARPA. Employers should discard any unused Form 941 with revision dates earlier than June 2021.
The new Form 941 may be downloaded here: https://www.irs.gov/pub/irs-pdf/f941.pdf
Contact your Cornerstone representative for more information.