Will QBD update Q2 2020 941 to the new 941 that includes CARES Act credits? If so, when?

You'll be glad to know that QuickBooks Desktop (QBDT) already updated the 941 that includes the CARES Act credits, @VictoriaKlein.

To ensure you're in line with the CARES Act, I recommend updating your payroll tax table. Once done, you can start tracking your employee's retention credit CARES Act in your QBDT software. Let me show you how.

First, let's set up your expense accounts for the retention credit:

1. Go to the Lists menu, then select Chart of Accounts.
2. Click the Account ▼ drop-down menu, then select New.
3. Choose Expense, then select Continue.
4. From the Other Account Type drop-down, select Other Expense.
5. Give your expense account a name, such as CARES Expense, in the Name field, fill out all the relevant information, and select Save and Close.

You can also read this article that can guide you through the whole process in setting up the retention credit. Go to the QuickBooks Desktop Payroll section for the complete details: How to set up and track the Employee Retention Credit under the CARES Act.

I'm also adding this great resource for additional reference to learn more about the CARES Act: How the Coronavirus Aid, Relief, and Economic Security (CARES) Act affects your payroll.

Also, to answer your side question. Yes, it's possible to file a regular 941 in your QBDT as long as you don't use the CARES Act when filing your 941 forms.

On top of this, you're always welcome to visit our Help articles page anytime you need some reference in managing your QBDT software effectively.

Tag me in if there's anything else you need help with. I'm only a post away from you. Keep safe and take care.

It is currently printing "draft - do not file" on the return when trying to print. when will this be removed?

Good morning,

I have the same question; Will QBD update Q2 2020 941 to the new 941 that includes CARES Act credits? If so, when?

The Federal 941 form is partially updated, but does not include "worksheet 1" that feeds into other fields in the form, the form won't balance without, and the fields won't allow you to simply enter the correct amounts either. I understand that running a payroll updated is the standard answer for these situations, but I've run payroll updates every time I log in for the last 4 days and nothing has changed. Is there an expected release date for the payroll update that will fix the Federal 941 for QB Desktop Enterprise? Thank you for your help!

Hey there, @lisa-sca. 

Thanks for joining in on this thread. The reason that you're receiving the message "draft - do not file" is because we're still preparing the 941 form to ensure it's accuracy. At this time, we're unable to determine the date of when the form will be released. Don't worry. We're doing our best to make sure that they're finished as soon as possible. 

When the form is ready, you can easily prepare and print your 941 by using the steps within this guide provided. In the meantime, you can always go to the IRS website to see and print a blank 941 if need be. 

If you have any other questions or concerns, feel free to ask. I'm always here to lend a helping hand. Have a splendid day!

We have run a FULL PR update and the 941 is available, but STILL no WORKSHEET 1!

Also, the line items cannot be overridden when computing WORKSHEET 1 manually.

Are new updates pending??

I am in the same boat. I am unable to prepare my 941 without worksheet 1.

But how do we know what "tax-line mapping" to use when we set up this one account in our Chart of Accounts?  Do we only need to set up the one account in the COA.  I realize the other items to pay employee's is under the manage payroll items account.  

Thank you,