HomeBOIRFREE FilingPricingTax ProfessionalsApps
Sign InSign Up
 

Form 941 Instructions

As a business owner, one of the responsibilities you have in a quarter is to file Form 941. To stay compliant and avoid IRS penalties, you will need to file Form 941 every quarter without fail.

In this article, we’ll walk you through the nitty gritty of Form 941 and guide you through how to file the return with the IRS.

What is IRS Form 941?

IRS Form 941, Employer's Quarterly Federal Tax Return, is filed by employers to report employment taxes withheld from their employees' paychecks and the employer's share of social security and Medicare taxes.

The employment taxes withheld from employees include federal income tax and FICA (Social Security and Medicare) taxes.

Who must file Form 941?

All employers who pay salaries to their employees regularly are required to file Form 941 with the IRS.

Who is not required to file Form 941?

While many employers in the US are required to file Form 941, there are exceptions and situations in which employers are not obligated to file this form. Here are some examples of who may not be required to file Form 941:

  • Employers with seasonal workers: Employers with seasonal or intermittent workers may not be required to file Form 941.
  • Household employers: If you're a household employer paying employees with no tax liability, you may not need to file Form 941.
  • Agricultural employers: Employers in the farming industry are not required to file Form 941. They will need to file a different form, Form 943: Employer's Annual Federal Tax Return for Agricultural Employees.
  • Employers who qualify for annual filing: Some small employers with low tax liabilities may qualify for annual filing rather than quarterly filing. In this case, you will need to file Form 944 instead of Form 941.

When is the Form 941 deadline?

The deadline for filing Form 941 is typically the last day of the month that follows the end of the calendar quarter.

Below is the deadline for each quarter to file Form 941:

  • Quarter 1 (January to March): April 30
  • Quarter 2 (April to June): July 31
  • Quarter 3 (July to September): October 31
  • Quarter 4 (October to December): January 31

What information needs to be reported?

To file Federal Form 941, you will need various information related to your employees, wages, and tax liabilities. Below is the information typically required:

  • Business information such as name, EIN, and address
  • Employee count
  • Social Security and Medicare taxes
  • Tax deposits made to the IRS
  • Tax liability for the quarter

E-file Form 941 with TaxZerone

File IRS Form 941 easily with TaxZerone starting at just $6.99/return. You will only have to enter the required information, pay and sign Form 941, and transmit the return to the IRS.

The whole filing process gets completed in less than 5 minutes! You will also get email updates on your return status as soon as the IRS processes it.

E-file Form 941 Now