IRS Releases Revised Draft Instructions For 2021 Form 944

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• IRS released revised draft instructions for Employer’s Annual Federal Tax Return
• The instructions provide guidance for reporting Covid-19 tax credits

Draft instructions for the 2021 Form 944, Employer’s Annual Federal Tax Return, were issued Oct. 4 by the Internal Revenue Service.

The 30-page instructions provide guidance for the multiple new and revised lines included on the draft Form 944, which was released June 30. Form 944 was updated to reflect changes to Form 941, Employer’s Quarterly Federal Tax Return, that were required because of adjustments to Covid-19 employment tax credits under the American Rescue Plan Act.

Five worksheets included in the instructions are to allow employers to calculate the credit for qualified paid sick and family leave, the ...

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