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July 25, 2020
Question

How do you report the employee retention Credit on the 2nd quarter form 941?

  • July 25, 2020
  • 1 reply
  • 3 views
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1 reply

LieraMarie_A
Level 8
July 25, 2020

Hi there, @jfischer1.

 

You can add the Employee Retention Credit in your Employee's profile. You'll need to ensure that it goes through their payroll, so it reports to your form 941 correctly. 

 

Here's how:

  1. Go to the Workers or Payroll menu, then select Employees.
  2. Select the employee you’d like to add paid leave.
  3. In the How much do I pay an employee section, select Add additional pay types.
  4. Under the CARES Act section, select CARES Employee Retention Act pay types.
  5. If applicable, select and enter any Employer Paid Health Insurance Premium amount to be tracked on each check.
  6. Select Done.

 

There are a few requirements to be met for us to qualify for the Employee Retention Credit. For more details, you can check out this article: FAQs: Employee Retention Credit under the CARES Act.

 

Additionally, read through these helpful articles on how QuickBooks populates the lines on Form 941: How QuickBooks Populates The 941.

 

Please let me know if you have other questions about payroll. I'm always around to help. Have a great day.