Employer's Quarterly Federal Tax Return

ICR 202004-1545-007

OMB: 1545-0029

Federal Form Document

Forms and Documents
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Justification for No Material/Nonsubstantive Change
2020-04-07
Supplementary Document
2020-03-31
Supporting Statement A
2020-04-03
IC Document Collections
IC ID
Document
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Status
39380 Unchanged
240815 Modified
227052 Unchanged
190971 Unchanged
187195 Unchanged
187193 Unchanged
187191 Unchanged
187190 Unchanged
187189 Unchanged
187188 Unchanged
187187 Unchanged
187186 Unchanged
187185 Unchanged
187184 Unchanged
187183 Unchanged
187174 Unchanged
ICR Details
1545-0029 202004-1545-007
Historical Active 202003-1545-009
TREAS/IRS
Employer's Quarterly Federal Tax Return
No material or nonsubstantive change to a currently approved collection   No
Emergency 03/31/2020
Approved without change 04/07/2020
Retrieve Notice of Action (NOA) 04/07/2020
Treasury will go through the usual PRA public comment process before seeking an extension of this OMB control number.
  Inventory as of this Action Requested Previously Approved
09/30/2020 09/30/2020 09/30/2020
40,361,546 0 40,361,546
415,521,474 0 415,521,474
0 0 0

Form 941 is used by employers to report payments made to employees subject to income and social security/Medicare taxes and the amounts of these taxes. Form 941-PR is used by employers in Puerto Rico to report social security and Medicare taxes only. Form 941-SS is used by employers in the U.S. possessions to report social security and Medicare taxes only. Schedule B is used by employers to record their employment tax liability. The Form 8974 was developed to determine the portion of the elected amount that can be claimed for the quarter on the Form 941. The new Form 7200, Advance Payment of Employer Credits Due to COVID-19, is used to request an advance payment of the tax credits for qualified sick and qualified family leave wages, and the employee retention credit.
Pursuant to the Office of Management and Budget (OMB) procedures established at 5 CFR 1320, the Internal Revenue Service (IRS) requests that the following collection of information, Employer's Quarterly Federal Tax Return, be processed in accordance with section 1320.13 Emergency Processing. The IRS has determined that this information must be collected prior to the expiration of time periods established under Part 1320, and that this information is essential to the IRS’s ability to effectively implement Division G of P.L. 116–127, the Families First Coronavirus Response Act and Section 2301 of P.L. 116-136, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, addressing the economic disruption stemming from the Novel (new) Coronavirus (“2019-nCoV”) global pandemic. New Form 7200 was developed for an employer to receive an advance payment of the refundable portion of credit for qualified sick and family leave wages or compensation pursuant to Division G of the FFCRA, and to receive an advance payment of the refundable portion of the employee retention credit pursuant to Section 2301 of CARES, that will be claimed on Form 941, Form 943, Form 944, or Form CT-1. Because an employment tax return isn’t filed until some period of time (generally, a month after the end of the quarter for which wages are being reported) after wages are required to be paid, an employer may not be able to fund the sick leave or family leave required by the FFCRA, or fund the qualified wages under CARES Act. This may create financial hardship to businesses that are unable to request an advance payment, so the agency is requesting an emergency approval of Form 7200. Given the critical impact of the global pandemic of 2019-nCoV, and the damaging effects on the US economy, Treasury has directed an extremely expeditious implementation of the new legislation, to be able to inject the necessary funds to the impacted employers. As a result, Treasury is unable to consult with the public prior to issuing the forms, however the IRS has ample experience designing other similar forms in a way that is clear and minimizes burden. Also, due to the nature of this ICR, being voluntary and only one avenue to receive the benefit of the tax credit (the preferred and recommended avenue is for employers to reduce their FICA deposits, as noted in the Form 7200), the estimated number of respondents, and the associated burden is extremely preliminary and provided only to comply with the requirements of 5 CFR 1320.3. Updated burden estimates will be provided as part of the renewal of OMB #1545-0029, Employer's Quarterly Federal Tax Return. Treasury requests approval of the submission by March 31, 2020. Given the inability to seek public comment during such a short timeframe, Treasury requests a waiver from the requirement to publish notice in the Federal Register seeking public comment during the period of OMB review. Public comment will be solicited in conjunction with any future extension of the approval to collect this information.

US Code: 26 USC 3501 Name of Law: Collection and payment of taxes
   US Code: 26 USC 3102 Name of Law: Deduction of tax from wages
   US Code: 26 USC 3405 Name of Law: Special rules for pensions, annuities, and certain other deferred income
   US Code: 26 USC 3504 Name of Law: Acts to be performed by agents
   US Code: 26 USC 3101 Name of Law: Rate of tax
   US Code: 26 USC 3511 Name of Law: Certified professional employer organizations
   US Code: 26 USC 3111(d) Name of Law: Rate of tax
   PL: Pub.L. 116 - 127 7001 ad 7003 Name of Law: Families First Coronavirus Response Act
   PL: Pub.L. 116 - 136 2301 Name of Law: Coronavirus Aid, Relief, and Economic Security (CARES) Act
  
PL: Pub.L. 116 - 127 7001 and 7003 Name of Law: Families First Coronavirus Response Act
PL: Pub.L. 116 - 136 2301 Name of Law: Coronavirus Aid, Relief, and Economic Security (CARES) Act

Not associated with rulemaking

No

16
IC Title Form No. Form Name
Form 941-X - Adjusted Employer's Quarterly Federal Tax Return or Claim for Refund 941-X Adjusted Employer's QUARTERLY Federal Tax Return or Claim for Refund
Form 941-X (PR) - Ajuste a la Declaracion Federal TRIMESTRAL del Patrono o Reclamo de Reembolso 941-X PR Ajuste a la Declaración Federal TRIMESTRAL del Patrono o Reclamación de Reembolso
Form 941-V (PR) (Preprinted) - Payment Voucher 941 V PR PrePrinted Comprobante de Pago V PR
Form 941SS -V -(Preprinted) 941 SS / V Employer’s QUARTERLY Federal Tax Return SS
Form 941SS -V - Payment Voucher (OTC) 941 SS Employer’s QUARTERLY Federal Tax Return SS
Form 941-V - Payment voucher 941 V Payment Voucher
Schedule D (Form 941) - Report for Discrepancies Caused by Acquisitions, Statutory Mergers, or Consolidations 941 Sch d Report of Discrepancies Caused by Acquisitions, Statutory Mergers, or
Form 941-PR - Planilla para la Declaracion Federal TRIMESTRAL del Patrono 941 PR, 941 PRR (2019 draft) Planilla para la Declaracion Federal TRIMESTRAL del Patrono ,   Planilla para la Declaracion Federal TRIMESTRAL del Patrono
Schedule R (Form 941) - Allocation for Aggregate Form 941 Filers 941 SCH R, 941 Sch R Allocation Schedule for Aggregate Form 941 Filers ,   Allocation Schedule for Aggregate Form 941 Filers
Form 941-V (PR) - Payment voucher (OTC) 941 PR V Comprobante de Pago
Form 8974 Qualified Small Business Payroll Tax Credit for Increasing Research Activities 8974 Qualified Small Business Payroll Tax Credit for Increasing Research Activities
Advance Payment of Employer Credits Due to COVID-19 7200 (SP), 7200 Advance Payment of Employer Credits Due to COVID-19 ,   Anticipo de Pago de Créditos del Empleador Debido al COVID-19
Schedule B (Form 941) - Report of Tax Liability for Semiweekly Schedule Depositors 941 sch b Report of Tax Liability for Semiweekly Schedule Depositors
Anexo B, (Forma 941-PR) - Registro de la Obligacion Contributiva para los Despositantes de Itinerario Bisemanual 941-PR SCH B Registro de la Obligación Contributiva para los Depositantes de Itinerario Bisemanal
Form 941-SS - Employer's Quarterly Federal Tax Return; American Samoa, Guam, the Commonwealth of the Northern Mariana Islands, and the U.S. Virgin Islands 941 SS, 941 (2019 draft) Employer’s QUARTERLY Federal Tax Return ,   Employer’s QUARTERLY Federal Tax Return
Forms 941, Employer's Quarterly Federal Tax Return; American Samoa, Guam, the Commonwealth of the Northern Mariana Islands, and the U.S. Virgin Islands 941 (2019 draft), 941 Employer’s QUARTERLY Federal Tax Return ,   Employer’s QUARTERLY Federal Tax Return

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 40,361,546 40,361,546 0 0 0 0
Annual Time Burden (Hours) 415,521,474 415,521,474 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
There has been an increase in burden with the addition of new Form 7200, Advance Payment of Employer Credits Due to COVID-19. This form is used to request an advance payment of the credit for qualified sick and family leave wages, and the employee retention credit, and was developed due to the passage of PL 116-127, Sec 7001 and 7003, (Families First Coronavirus Response Act) and PL 116-136, Sec 2301 (Coronavirus Aid, Relief, and Economic Security (CARES) Act). The new form caused an increase in annual time burden hours of 13,496,616 (from 402,024,858 to 415,521,474 hours). The annual respondents/responses increased by 1,500,000 (from 38,861,546 to 40,361,546).

$12,235,028
No
    Yes
    Yes
No
No
No
Yes
Michael Ecker 202 622-3144

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
04/07/2020


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