What you need to know
The upcoming Sage 50—U.S. Edition 2021.1 release, available late September or early October 2020, incorporates payroll enhancements to help you comply with reporting requirements for Form 941 Employer’s Quarterly Federal Tax Return.
This release extracts the amounts paid for Sick and Family leave allowed under the Families First Coronavirus Response Act (FFCRA) and automatically populates the amounts in the proper fields on Form 941. In addition, employers can now set up an unlimited number of Pay Types for both hourly and salaried employees.
Also, back-end work has been done to accommodate the new 1099-NEC, scheduled to be released in a Tax Update later this year. You should load this release if you plan on printing this new form when released.
What you can do to prepare
Subscribe to this Sage 50 US Announcements, News, and Alerts forum so that you will be notified by email when the Sage 50ꟷU.S. Edition 2021.1 release is available. Click here for instructions on how to subscribe to the forum and manage notifications.
Once available, download and install the 2021.1 update to enable proper reporting for the 3rd quarter filing of Form 941.
Important: You will need to convert your company data after installing Sage 50—U.S. Edition 2021.1. If you need help with converting your data or installing the payroll enhancements, click here to learn more about Sage Expert Services and to schedule a consultation!
Need help?
Visit www.SageCity.com/Resources for additional options, including links to Sage Knowledgebase, Sage City, and Sage University, as well as Sage Q&A Live, Chat, and Online Case submission.