Revised IRS Form 941

On May 18 the IRS issued a new version of Form 941, Employer’s Quarterly Federal Tax Return. This was changed due to a special payroll tax exemption that will apply to new workers that are hired in the year 2010.  The IRS calls it the HIRE Act which stands for “Hiring Incentives to Restore Employment”.

Employers can qualify for a payroll exemption if the employer hires a worker who has been unemployed for at least 60 days and they are not a “replacement” hire.

Please see the IRS Website for more information about the HIRE Act Employment Tax Incentive.

link to revised Form 941 and instructions.


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