A Simple Checklist for Meeting the Q2 Form 941 Deadline

The clock is ticking, start e-filing today!

form 941

Can you believe the Form 941 deadline for the second quarter of 2022 is less than a week away? Time flies when you are busy growing your business!

Remember, if you are required to withhold Medicare, social security, and income taxes 

You may have completely forgotten that the deadline was creeping up, or perhaps you are beginning the filing process and want to be sure that you have all the information you need. Either way, here is a helpful guide to get you there. 

Here is your Form 941 checklist for Q2 of 2022. 

Gather 941 Filing Information:

This quarter, you will need the following information before you sit down to e-file your form with TaxBandits. 

  • Wages paid
  • Tips that your employees reported to you (if applicable)
  • Federal Income tax you withheld from your employees’ paychecks
  • The employer and employee share of social security and Medicare taxes
  • Qualified small business tax credit for researching activities
  • Your tax liability for the quarter
  • Deposit information (ex. Are you a monthly depositor?)

Check for Updates to Form 941 for Q2

Form 941 has been changing almost every quarter since the onset of the COVID-19 pandemic. Now, as the available tax credits continue to expire, we are seeing fewer dramatic changes each quarter. 

For the second quarter of Q2, there are only a few changes that employees need to be aware of, but they are certainly worth noting. Here is a quick overview of these updates: 

  • The following lines have been removed because the COBRA premium assistance expired, they are reserved for future use. 
    • Line 11e: Non Refundable portion of COBRA premium assistance credit (see instructions for the applicable quarter). 
    • Line 11f: Number of individuals provided COBRA premium assistance
    • Line 13f: Refundable portion of COBRA premium assistance credit (see instructions for the applicable quarter)
  • These lines have been updated to reflect the lines that are “reserved for future use”: 
    • Line 11g: Total nonrefundable credits. Add lines 11a, 11b, and 11d.
    • Line 13g: Total deposits and refundable credits. Add lines 13a, 13c, and 13e.

Are there any Form 941 Worksheets for Q2, 2022? 

Yes, there are 2 worksheets available for employers this quarter. These worksheets are only needed for employers that have paid qualified sick and family leave wages during the quarter for leave taken previously. These are the worksheets for Q2:

  • Worksheet 1: Credit for Qualified Sick and Family Leave Wages Paid This Quarter of 2022 for Leave Taken After March 31, 2020, and Before April 1, 2021 
  • Worksheet 2: Credit for Qualified Sick and Family Leave Wages Paid This Quarter of 2022 for Leave Taken After March 31, 2021, and Before October 1, 2021

E-file Quarterly Form 941 with 123PayStubs!

Now that you are ready to conquer your quarterly filing requirements, you just need a simple e-filing solution. 123PayStubs has you covered! With accurate tax calculations and built-in error checks, you can file with us as easily as you create pay stubs. 

Are you ready to start e-filing Form 941 for the second quarter of 2022? Click here to get started!


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