6/30/14 year end corporation declares an officer bonus on 6/25/14 and will issue the bonus during it's next normal pay cycle on 7/7/14. The officers are also controlling shareholders of the corporation and have unrestricted access to the corporate funds. Therefore, they are determined to have constructive receipt of their bonus by 6/30/14 and the corporation takes this deduction on their 6/30/14 year-end tax return (Rev. Rul. 72-317; Ltr. Rul. 8630059).
Does the bonus need to be reported as compensation on the 6/30/14 Form 941?