DELETE: Form 941 Line 7 fractions of cents returns a large value (Reporting COVID wages)

• You paid COVID-19 related emergency pays and/or were eligible for COVID-19 related tax credits and other tax relief.
• Tax liability amounts reported on Line 16 (if you are a monthly depositor) or on the Schedule B (if you are a semiweekly depositor) need to be changed to exclude employer Social Security associated with COVID-19 related emergency sick and/or family leave wages.
• Tax liability amounts reported on Line 16 (if you are a monthly depositor) or on the Schedule B (if you are a semiweekly depositor) need to be changed to include tax credits.

The tax liability amounts will prefill the form automatically from the Payroll data and will not be reduced automatically.

See How do I report COVID-19 wages on Form 941? (Qtr 1 2021) or 941 Form and Covid wages (QTR 2 2021 and later) for further information about preparing the Form 941.

Contact your tax professional for advice regarding the appropriate amounts to enter on the form.