941 2020 2nd quarter

Forum|Forum|6 years ago
June 19, 2020
3 replies
15 views

Just a heads up----941 doesn't calculate correctly for companies that receive a PPP loan. You have to basically opt out of the Employee Retention Credit. Click on the Retention box & check employees one by one.

EasyACCT

This topic has been closed for replies.

Just-Lisa-Now-

Intuit Community Champion

Maybe since the quarter isnt over yet, and the quarterly reports arent due yet, more updates are still in route?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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Dianna

Level 4

There needs to be an option to "select all" for the employees list when opting out, I'm hoping there is an update that can address this.

qbteachmt

Level 15

Yes, you cannot take both the PPP and the Retention Credit. You have to opt out of the retention credit.

Don't yell at us; we're volunteers

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Bavic74

Level 3

This is still an issue with us. No matter what we do it will take a credit. Our clients are not eligible, anyone figure a way to get the 941 to calc properly?

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Dianna

Level 4

EasyAcct should take away the automatic retention credit, you should need to select it if it applies instead of being automatically on the report. It is very frustrating!

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LLD

Level 2

I marked all my employees and it still gave me the retention credit. Our employees worked full schedule the whole time so we are not eligible and I can't find how to opt out, so it wants to refund us our taxes paid. Totally frustrating!!!!

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