Because we recognize that COVID-19 relief measures may represent significant financial support to many business, RKL's Human Capital Management (HCM) team is continually monitoring employment policy changes and taking a thought leadership role in COVID-19 business related matters. The July 31 deadline for filing Form 941 with the IRS is just around the corner and we are finding that many payroll providers have not been collecting COVID-19 tax credits.To help employers work through this complex process, RKL's HCM team has created an off-the-shelf Form 941 support package. The package includes an overview of COVID-19 tax credits, a worksheet to track and calculate credits, and addresses common employer questions. The package even includes a step-by-step video to walk filers through the process and address common questions.
RKL’s Form 941 Support Package helps employers:
- Save time
- Ensure accuracy
- Streamline tracking and reporting
- Review eligibility for all COVID-19 tax credits
- Maximize financial benefit (including the Employee Retention Tax Credit for non-PPP recipients and the often overlooked Qualified Health Plan Expenses)
Employers working with a payroll provider to automatically prepare Form 941 should request a hold on the process. This ensures time to review RKL’s support package to make sure no eligible credits are overlooked or miscalculated. If Form 941 was already submitted, employers may need to amend their return depending on the outcome of the calculations on the RKL worksheet.
Ready to get started?
Contact HRconsulting@rklcpa.com with any questions or for assistance.
COVID-19 Tax Relief Insight From RKL CPA
PAYROLL PROVIDER QUESTIONNAIRE FOR COVID-19 TAX CREDITS
PAYROLL GUIDE TO COVID-19 TAX RELIEF
EMPLOYEE GUIDE TO COVID-19 RELIEF MEASURES
