Not All Tax Deadlines Have Been Delayed: Form 941 is Still Due April 30, and Your Second Quarter 941 Will Put Money in Your Pocket

Not All Tax Deadlines Have Been Delayed: Form 941 is Still Due April 30, and Your Second Quarter 941 Will Put Money in Your Pocket

           

While many tax filing and payment deadlines have been delayed in response to the Covid-19 pandemic (HERE IS A LINK to a review of many of those delays), not all deadlines are delayed.  One filing deadline that is NOT delayed is that for the federal Form 941.  

There is, however, something of a silver lining.  While your first quarter 941 is due next week, along with the related taxes, the second quarter 941 will afford you the opportunity to hold back some of the taxes otherwise due and apply them to your bottom-line. HERE IS A LINK to a review of that program.

FYI, and this will be covered in a post to be released next week, if you received a Paycheck Protection Program loan, you will not be able to use this new facility.