ERTC Under AMerican Rescue plan act for 3rd and 4th qrtrs 2021

I'm here to share some details about the American Rescue Plan Act of 2021, J Myers.

The IRS is working on issuing guidance surrounding the implementation of the newly enacted American Rescue Plan Act of 2021.  Additional information about this act will be made available as soon as possible. For more details, please see this article: IRS Statement - American Rescue Plan Act of 2021.   

Additionally, I've also included these articles that'll help you stay guided about CARES and Employee Retention Credit:

• Set up and Track the Employee Retention Credit Under the CARES Act
• What you Need to Know About the Families First Coronavirus Response Act

• American Rescue Plan Act Provides PPP Funding and Tax Breaks

I'm only a post away if you need more help in completing your other tasks in QuickBooks.  It's always my pleasure to help you out again.

There are 2 separate places on the 941 for CARES Retention & Sick wages paid. Are we to assume they will just be lumped together & that is okay with the IRS?

there are 2 separate places on the 941 A place for CARES Act wages & a place for paid covid related sick leave wages. Are we to lump them together & the IRS is just okay with that?

Thanks for joining this post, @FOE3865.

The IRS will provide taxpayers with additional guidance on those provisions for the newly enacted American Rescue Plan Act of 2021. With that said, we at Intuit are also waiting for their update before we provide instructions about this new payroll item. 

For now, the Form 941 instructions explain how to reflect the reduced liabilities for the quarter related to the deposit schedule. Need more understanding about ARPA? Check this link: American Rescue Plan Act provides PPP funding and tax breaks.

Also, I suggest working with your accountant or a tax expert. They can provide you additional details on how to track American Rescue Plan Act (ARPA) to your 941 forms. For other concerns about QuickBooks, you can reach out to our Payroll Support Team for further assistance.

Additionally, check out this article: Latest payroll news and updates. It will give you a breakdown for each update on QuickBooks Desktop Payroll is on this page with a brief description. 

Once everything is all set, you can utilize this link for guidance in filing your tax forms seamlessly: E-file 940, 941, and 944 tax forms.

Please keep in touch with me here if you have any other QuickBooks or payroll concerns, @FOE3865. I've got your back, and I'm always ready to help. Keep safe always!