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IRS Releases Form 941-X, Instructions for Third and Fourth Quarters

BY: Jyme Mariani, Esq. | 11/19/20

The IRS released a revised version of Form 941-X, Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund, and its instructions for the third and fourth quarters of 2020. The form was revised to allow for correcting the deferred amount of the employee’s share of social security tax on wages paid on or after September 1, 2020, and before January 1, 2021.

Changes to the Form

Line 24 is now used to correct the deferral of the employer and employee share of social security tax for the third and fourth quarters of 2020 (Form 941, Line 13b).

For the second quarter of 2020, Line 24 is used to correct only the deferral of the employer share of social security tax (Form 941, Line 13b).

Line 33 has been renumbered to Line 33a, and Line 33b has been added:

  • Line 33a is used to report qualified wages paid March 13 through March 31, 2020, for the employee retention credit for the second quarter of 2020 only (Form 941, Line 24).
  • Line 33b is used to correct the portion of the deferred amount of the employee’s share of social security tax for the third and fourth quarters of 2020 included on Form 941, Line 13b (i.e., the amount reported on Form 941, Line 24).

To learn more about federal and state laws, regulations, and information to keep your company's payroll operations in compliance, check out Payroll Source Plus!


Jyme Mariani, Esq., is Managing Editor of Payroll Currently and Payroll Information Resources for the APA.