About Form 8974, Qualified Small Business Payroll Tax - IRS-2025

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The document is Form 8974, used to report the Qualified Small Business Payroll Tax Credit for Increasing Research Activities. It includes sections for employer identification, income tax return details, and calculations for credits against social security and Medicare taxes. The form is intended for employers to claim tax credits related to research activities as part of their payroll tax filings.

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What is a qualified small business payroll tax credit?

The Qualified Small Business (QSB) RD Payroll Tax Credit is a tax incentive geared specifically for early-stage companies. The credit can be used to offset payroll tax, either instead of or in addition to federal income tax.

Who qualifies for form 8974?

What is Form 8974? Form 8974 is used by small businesses or start-ups to determine the amount of qualified small business payroll tax credits they can claim from their employment tax return on Form 941. Only qualified small businesses that elect to claim payroll tax credits should file Form 8974.

What is form 8994 used for?

Purpose of Form An eligible employer (defined later) uses Form 8994 to figure the employer credit for paid family and medical leave. The credit ranges from 12.5% to 25% of certain wages paid to a qualifying employee while the employee is on family and medical leave.

Who has to file form 941?

Who Must File Form 941? If you pay wages subject to federal income tax withholding or social security and Medicare taxes, you must file Form 941 quarterly to report the following amounts. security and Medicare taxes. Medicare taxes for fractions of cents, sick pay, tips, and group-term life insurance.

How to file form 8974 with ADP?

ADP Run requires that you submit a partially complete Form 8974 to ADP.JobCredit.Request@adp.com. They will complete and submit Form 8974 at the end of the quarter. You will receive a refund check in the mail directly from the IRS. Form 8974 needs to be submitted quarterly until the credit is exhausted.

2023 8974 form

About form 8974 qualified small business payroll tax irs online About form 8974 qualified small business payroll tax irs 2021 About form 8974 qualified small business payroll tax irs 2022 Form 8974 instructions Form 6765 Qualified small business payroll tax credit Qualified small business payroll tax credit for Increasing Research Activities IRS Notice 2017-23

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Who qualifies for the RD credit?

RD tax credits are available to all organizations that engage in certain activities to develop new or improved products, processes, software, techniques, formulas or inventions.

Who qualifies for the employee retention tax credit?

You may qualify for ERC if your business or organization experienced a significant decline in gross receipts during 2020 or a decline in gross receipts during the first three quarters of 2021.

Who can use form 8974?

Who Must File Form 8974? You must file Form 8974 and attach it to Form 941, 943, or 944 if you made an election on your income tax return to claim the qualified small business payroll tax credit for increasing research activities against your payroll taxes.

About Form 8974, Qualified Small Business Payroll Tax - IRS-2025

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What is a qualified small business payroll tax credit?

Who qualifies for form 8974?

What is form 8994 used for?

Who has to file form 941?

How to file form 8974 with ADP?

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Who qualifies for the RD credit?

Who qualifies for the employee retention tax credit?

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