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File IRS Form 941 to Report Quarterly Payroll Taxes

Operating a business requires an employer to report all employee wages and other related payments to the Internal Revenue Service. All employers are obliged to file IRS Form 941 for this purpose. The form’s official title is the Employer’s Quarterly Federal Tax Return. Employers with less than $1,000 of withholding liabilities and annual payroll may file their annual returns, pending IRS approval.

The requirement for filing Form 941 four times a year is explained by the fact that payroll taxes are a standard source of revenue for the Department of Treasury. Employers who do not pay taxes for their employees may face certain penalties. To avoid this, file your return on time and provide only true and honest information for your employee’s wages and all other related payments.

Who Must File IRS Form 941?

Employers are obliged to report balances such as wages, income tax withheld, employee tips, employee and employer shares of Medicare and social security taxes (and adjustments to them), credits for improving research activities and other compensations. Employers shouldn’t file IRS Form 941 to report income tax withholding or backup withholding on pensions, gambling winnings or annuities, instead they should file Form 945 for this purpose.

Seasonal employers are not obligated to file Form 941 as they do not pay any wages and do not owe money to the government. Employers with household or farm employees are also not required to file the quarterly return.

How to Complete IRS Form 941?

With PDFfiller, you can make the process of completing and filing IRS Form 941 easier. The document has five parts. Before completing them, provide the following information: employer identification number, name, trade name, full address and the quarter for which you’re filing the form. Once you’ve indicated these details, begin filling the basic parts of the document. Provide the following information for each part:

  • Part 1. Indicate the number of employees for whom you’ve paid wages, bonuses, tips, or other compensations. Provide the total amount of those payments and the taxes withheld from them. Calculate the total taxes with all adjustments.
  • Part 2. Provide information for the tax liability and deposit schedule per the quarter you’ve indicated.
  • Part 3: Describe your business by checking corresponding boxes.
  • Part 4: Indicate whether you allow your employees to discuss the information provided in your return.
  • Part 5. Sign the quarterly return and date the form.

When to File IRS Form 941?

File IRS Form 941 four times a year. Each filing quarter has its deadlines.

  • For January, February and March, file your form by April 30th.
  • For April, May and June, submit a form by July 31st.
  • For July, August and September, file a return by October 31st.
  • For October, November and December, send the form to the IRS by January 31st.

Save time and avoid penalties by filing the return electronically within the required dates.



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