Drafts of the correction form for quarterly federal employer tax returns and its instructions were released Feb. 2 by the Internal Revenue Service.
The draft instructions for Form 941-X, Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund, mention the withholding treatment for the deductions for tips and overtime pay provided by the One Big Beautiful Bill Act (Pub. L. 119-21), but the deductions do not directly affect any lines on the form. The instructions remind employers that generally withholding errors can only be corrected in the same year as the wages were paid.
“If you didn’t account ...
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