Revised Form 941-X for 2023
Get to know the changes in Form 941-X
Create Form 941-X NowForm 941 Q2 Deadline is on
August 02, 2021
Changes in Form 941-X for 2020
Updated on October 23, 2023 - 10:30 AM by Admin,
ExpressEfile Team
With continuous changes to Form 941 due to the COVID-19 pandemic, the IRS has revised Form 941-X for 2020. This revision is made to accommodate filing corrections for values reported on Form 941, Quarters 2 and 3 of 2023.
Read on to learn more about revised Form 941-X for 2023:
1. Form 941-X - A Quick Overview
If you have filed Form 941 for a quarter and found errors on your return, you have to correct the values reported by filing Form 941-X, Adjusted Employer's Quarterly Federal Tax Return or Claim for Refund Form. In case you found errors in more than one quarter, you may have to file separate Form 941-X for each quarter.
To learn more about Form 941-X including its deadline, penalty, and mailing address,
click here.
2. What Should be Reported in Form 941-X?
You can file Form 941-X if any of the following values are misreported on your previously submitted Form 941:
- Wages, tips, and other compensation
- Federal income tax withheld from employee's paycheck and extra compensation
- Taxable social security wages
- Taxable social security tips
- Taxable Medicare wages and tips
- Taxable wages and tips subject to Additional Medicare Tax withholding
- Qualified small business payroll tax credit for increasing research activities
Note: In case, you have misreported the total number of employees who received wages or Part 2 of Form 941, you need not file Form 941-X.
3. What’s New in Form 941-X for 2020?
Employers can now file Form 941-X for correction in values reported in Form 941 in the following fields:
- Credit for qualified sick and family leave wages
- Employee retention credit
- Employer share of social security
- Employee share of social security
Below are the changes in Form 941-X and their respective fields in Form 941:
| If you’ve misreported | In Form 941 | Report corrections in Form 941-X |
|---|---|---|
| Qualified sick and family leave wages | ||
Qualified sick-leave wages |
Line 5(i) |
Line 9 |
Qualified family-leave wages |
Line 5a(ii) |
Line 10 |
Non Refundable portion of credit for qualified sick- and family-leave wages |
Line 11b |
Line 17 |
Refundable portion of credit for qualified sick- and family-leave wages |
Line 13c |
Line 25 |
Qualified health plan expenses allocable to qualified sick-leave wages |
Line 19 |
Line 28 |
Qualified health plan expenses allocable to qualified family-leave wages |
Line 20 |
Line 29 |
| Employee retention credit | ||
Non Refundable portion of employee retention credit |
Line 11c |
Line 18 |
Refundable portion of employee retention credit |
Line 13d |
Line 26 |
Qualified wages for the employee retention credit |
Line 21 |
Line 30 |
Qualified health plan wages reported on Form 941, Line 21 |
Line 22 |
Line 31 |
Qualified wages paid March 13 to March 31, 2020, for the employee retention credit |
Line 24 |
Line 33a (Use this line to correct only the Quarter 2 of 2020) |
Deferred amount of the employee share of social security tax included on Form 941 or 941-SS, line 13b |
Line 24 |
Line 33b (Use this line to correct only the Quarters 3 & $of 2020) |
Qualified health plan expenses allocable to wages reported of Form 941, Line 24 credit |
Line 25 |
Line 34 |
Deferred amount of the employer share of Social Security tax |
Line 13b |
Line 24 (Use this line to correct: the employer deferral for the Quarter 2 of 2020 the employer and employee deferral for the Quarters 3 & 4 of 2020) |
Note: If any of the fields above is not applicable, leave it blank.
4. Which Form should You File?
All filers must use the revised Form 941-X to file corrections of Form 941, irrespective of the quarters they are filing corrections.
Note: If you’re filing corrections for a quarter prior to April 01, 2020, DO NOT fill lines 9, 10, 17, 18, 24, 25, 26, 28, 29, 30, 31, 32, 33a, 33b, and 34. Leave them blank.
5. Complete and Download Form 941-X with ExpressEfile
With ExpressEfile, you can complete Form 941-X with the recent changes and download it for free
(if you have e-filed Form 941 through ExpressEfile). Then, you’ll have to file it with the IRS by postal mail manually as the IRS doesn’t support the e-filing of Form 941-X.
Note that the mailing address for Form 941-X varies based on the location where the business operates. Click here to know your mailing address for filing Form 941-X.
Complete Form 941-X Now