Revised Form 941-X for HIRE Act Payroll Tax Exemption

On September 11, 2010, the IRS issued a revised Form 941-X, known as the Adjusted Employer's Quarterly Federal Tax Return or Claim for Refund. The revisions are needed to enable an employer to claim a credit for the HIRE Act payroll tax exemption that was not claimed by the employer on qualified wages paid to qualified employees during a prior quarter or to make other adjustments to the payroll tax reported on such wages.

Form 941-X is revised by adding the following new lines:

• Line 11a. Number of qualified employees first paid exempt wages/tips this quarter (from line 6a of Form 941 or Form 941-SS).
• Line 11b. Number of qualified employees paid exempt wages/tips this quarter (from line 6b of Form 941 or Form 941-SS).