IRS Releases 2024 Form 941, Instructions for Form and Schedule B

[email protected]02 Sep, 2024Education

The IRS has released the 2024 Form 941, Employer?s Quarterly Federal Tax Return, along with updated instructions for Form 941 and Schedule B. This revision is crucial for managing payroll taxes and ensuring accurate tax reporting throughout the year. Notably, the 2024 IRS Form 941 no longer includes lines for COVID-19-related tax credits, requiring employers to adjust their filings accordingly. Additionally, IRS transcript remains a valuable resource for verifying tax history and resolving discrepancies. Stay informed about these changes to avoid penalties and ensure compliance with the latest IRS requirements for payroll taxes reporting. Explore the new Form 941 guidelines and updated Schedule B instructions to effectively manage your tax obligations.