Revised New IRS Form 941 for Q1 2022

Know the Changes in Revised IRS Form 941 for the 1st Quarter of 2022

Updated on February 23, 2022 - 10:30 AM by Admin, TaxBandits

The IRS recently released a revised Form 941 for the first quarter of 2022, complete with proposed changes. All employers that are required to report the federal income taxes, social security tax, or medicare tax withheld from employee's paychecks must file the updated form with the IRS.

This article provides detailed information on the Form 941 changes for Q1, 2022.

The following topics are covered in this article:

1. An Overview of the new Form 941 for Q1, 2022

The Social security tax rate on wages, including qualified sick leave wages and qualified family leave wages paid in 2022 for leave taken after March 31, 2021, and before October 1, 2021, is 6.2%. The tax rate for the qualified sick leave wages and family leave wages paid in 2022 for leave taken after March 31, 2020, and before April 1, 2021, is 6.2%. The social security wage base limit is $147,000. The employee retention credit has expired and the advance payment of COVID-19 credits has ended.

Form 940

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2. How have the New Form 941 fields been revised for Q1 of 2022?

Now that the employee retention credit and advance payments of COVID-19 credits are no longer available, the following 2022 Q1 Form 941 fields have been updated.

Line No. 2022 Q1 Form 941 2021 Q4 Form 941
Line 11c Reserved for future use Nonrefundable portion of employee retention credit
Line 13d Reserved for future use Refundable portion of employee retention credit
Line 13h Reserved for future use Total advances received from filing Form 7200 for the quarter
Line 13i Reserved for future use Total deposits and refundable credits less advances
Line 18 Indicate that you are a seasonal employer that doesn’t have to file a return for every quarter of the year

Line 18a:

Indicate that you are a seasonal employer and you don’t have to file a return for every quarter of the year

Line 18b:

If you are eligible for the employee retention credit solely because your business is a recovery startup business
Line 21 Reserved for future use Qualified wages for the employee retention credit
Line 22 Reserved for future use Qualified health plan expenses for the employee retention credit

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3. Are the Form 941 Worksheets updated for Q1, 2022?

Three Worksheets remain for the first quarter of 2022. They should be used for the following:

  • Worksheet 1: To calculate the Credit for qualified sick and family leave wages paid in 2022 for leave taken after March 31, 2020, and before April 1, 2021.

    Learn more about the 941 Worksheet 1.

  • Worksheet 2: To calculate the Credit for qualified sick and family leave wages paid in 2022 for leave taken after March 31, 2021, and before October 1, 2021.
  • Worksheet 3: COBRA Premium Assistance Credit can be calculated using this worksheet.

Click here to learn more about the Form 941 Worksheets.

4. When is the Deadline to File Form 941 for 2022?

IRS Form 941 is due to the IRS quarterly and it should be filed on the last day of the month following the close of the quarter. These are the 941 due dates for the 2022 tax year :

First quarter Deadline

First Quarter

January - March
May 2, 2022

Second quarter Deadline

Second Quarter

April - June
August 1, 2022

Third quarter Deadline

Third Quarter

July - September
October 31, 2022

Fourth quarter Deadline

Fourth Quarter

October - December
January 31, 2023

5. How has the Form 941 Schedule R been updated for Q1 of 2022?

Form 941 Schedule R has been updated to reflect the changes made to Form 941 for Q1. Columns m, s, t, and v are now "Reserved for future use. To correspond with the updated lines on Form 941. Some employers may be able to claim the credit for qualifying sick and family leave wages paid in 2022. Some employers may be eligible for the COBRA premium assistance credit in the first quarter of 2022.

6. E-file 941 for 2022 with TaxBandits in minutes

Electronic filing is the easiest method of filing IRS tax forms. In comparison to filing a paper copy,
e-filing Form 941 is more convenient, secure, and cost-effective.

TaxBandits is an IRS authorized e-file provider that provides a simple solution for filing Form 941, pricing starts at just $4.95/form. Below are the steps for e-filing 941 with TaxBandits:

  • Step 1: Enter Form 941 Details
  • Step 2: Review the Summary Form 941
  • Step 3: Pay & transmit the Form 941 to the IRS

TaxBandits also offers time-saving features that improve the accuracy of your forms such as built-in Worksheet calculations, supporting Schedule B, and options to e-sign with your 94x Online PIN or 8453-EMP.