941 COVID-19 Tax Adjustments for Sick Leave and Family Leave – RFMS Core

For more details on the 941 for 2020, go to https://www.irs.gov/instructions/i941

The new COVID-19 related sick leave tax adjustments can be manually added to the 941(printed) in Human Resources.

Human Resources>Reports>Quarterly Report>941 Quarterly Report (printed)

Fill in the necessary information on the 941 Quarterly Report screen and click Print.

These new options are only applicable under the following conditions:

C.A.R.E.S (Corona Aid Relief and Economic Security Act) -> Retention Credit/Qualified Wages
FFCRA (Families First Coronavirus Act) -> Qualified Sick/Family Leave Wages
Deferment of Tax Payments

NOTE: A PPP Loan is NOT applicable. If your company did not participate in any of the above mentioned credits, then you would complete the 941 form like previous quarters (ignoring new fields).

The following webinar explains ways to keep track of these specific sick leave wages in RFMS (https://rfms.support.cyncly.com/hc/en-us/articles/50199675862673-Families-First-Coronavirus-Response-Act-in-RFMS-Webinar)

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