|02:00 PM - 03:15 PM ET|
|01:00 PM - 02:15 PM CT|
|11:00 AM - 12:15 PM PT|
Charged with administering new payroll tax relief programs created by the FFCRA and CARES Act, the IRS recently released a redesigned version of Form 941 (Employer Quarterly Tax Return) through which employers can now claim entitlement to FFCRA qualified sick/family leave tax credits, CARES employee retention credits, and CARES payroll tax deferrals.
As the July 31 deadline to file the redesigned Form 941 for the second quarter of 2020 approaches, questions about the technical mechanics of reporting COVID-19 payroll tax credits and deferrals to the IRS have proliferated.