IRS Form 941X (Rev. July 2020)

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By Laura Detsch

Compliance Officer

There is a draft version of the IRS Form 941X (Rev. July 2020) available. The final version is expected to be available by the end of September 2020. This revision incorporates the additional elements related to the changes implemented on the Form 941 (Rev. April 2020) and 941-SS (Rev. April 2020), which factored in the payroll related credits related to the FFCRA and Cares Act. 

While the draft forms typically do not change between the time it is a published draft and a finalized published form, it has the watermark of “Internal Use Only, Draft as of July 9, 2020”; therefore, cannot be used to file an amended 941 or 941-SS return for the second quarter of 2020 since the amended report must be paper filed not electronically filed.   

There was talk that the older version of the 941X could be used going forward if the 941 or 941-SS form in question did not have any changes related to the FFCRA and Cares Act credits.  But that suggestion was retracted at a recent Reporting Agents Forum. The reason was due to the numerous lines that are affected by the COVID-19 credits and the rippling affect in the completion of the 941X. 

The draft instructions for the 941X (Rev. July 2020) have not been made available yet but will be coming in the near future. 

As of now, if you need to amend your 2nd quarter 2020 941 or 941-SS, you will need to wait until the form 941X (Rev. July 2020) becomes available.