Form 941x: Instructions For The IRS Employee Retention Credit

Employers use Form 941 to report the amount of income tax, Social Security tax, or Medicare tax they withhold from employee paychecks. 

This is a quarterly federal tax return document that also allows employers to pay their own share of Social Security or Medicare taxes. 

If you're an employer who needs to make corrections to this form, then you will complete IRS Form 941X. This includes any adjustments required following changes made to COVID-19-related employment tax credits. 

The American Rescue Plan (ARP) changed the way employee retention credit should be applied within Form 941. Today, we're sharing how to use Form 941X to make those changes and ensure you're following the most recent tax laws when completing your returns.