941
Employer's QUARTERLY Federal Tax Return
Form 941 is the quarterly return an employer files to report federal income tax, Social Security tax and Medicare tax withheld from employees' paychecks, along with the employer's share of Social Security and Medicare taxes. It reconciles what you deposited during the quarter with what you owe.
Once you file your first Form 941, you file every quarter, even in a quarter when you owe nothing, unless you are a seasonal employer or filing a final return. The IRS matches the totals to the Forms W-2 and W-3 you file at year end.
The form is two pages and must be signed. Most of the work is the wage and tax figures on page 1 and, for some employers, a record of daily or monthly tax liability.
Lines 1 to 15: number of employees, wages (line 2), federal income tax withheld (line 3), Social Security and Medicare taxes (lines 5a to 5d), adjustments, credits such as the qualified small business payroll tax credit (line 11), total taxes, deposits, and balance due or overpayment.
Line 16. Monthly depositors enter their liability by month. Semiweekly depositors complete Schedule B (Form 941) instead.
Line 17 if you closed your business and line 18 if you are a seasonal employer.
Whether the IRS may speak with a person you name about the return.
Your signature and date, plus the paid preparer section if someone prepared it.
Enter your EIN, name, trade name, address and the quarter you are reporting.
Count employees on your payroll for the pay period that includes the 12th of the quarter's third month.
Enter total wages, tips and other compensation, and the federal income tax withheld from them. Wages match what you report in box 1 of Form W-2.
Apply the Social Security and Medicare tax rates to the wages and tips. The instructions list 6.2% for each of the employer and employee for Social Security, up to the annual wage base, and 1.45% each for Medicare. Additional Medicare Tax of 0.9% is withheld from employees only.
Adjust for fractions of cents, sick pay, tips and group-term life insurance, apply credits from Form 8974, and total the taxes.
Enter your deposits, then the balance due or any overpayment, and say whether to apply an overpayment to the next return or refund it.
Enter your monthly liability, or complete Schedule B if you are a semiweekly depositor.
Complete both pages and sign page 2. Missing parts can delay processing.
You get the real form, filled in a browser tab, with nothing standing between you and the finished PDF.
Quarter 1 (January to March) is due April 30, quarter 2 July 31, quarter 3 October 31 and quarter 4 January 31. If you deposited all taxes on time, you may file by the 10th day of the second month after the quarter. A weekend or holiday moves the date to the next business day.
You deposit by electronic funds transfer on a monthly or semiweekly schedule, decided by a lookback period. If total tax for the quarter is under $2,500 you can pay with the return.
The IRS encourages e-filing. Paper filers use a mailing address that depends on state and whether a payment is attached, listed in the instructions.
Avoid penalties by depositing on time, filing a complete return and reporting accurately. The instructions also describe the trust fund recovery penalty, equal to the full unpaid withheld taxes, for responsible persons who act willfully. Ask for penalty relief on Form 843.
Totals that do not match Form W-3, a missing signature, and skipping the filing for a quarter with no wages.
941-X
352 fields, 6 pages
941 Sch. B
212 fields, 1 page
W-2
568 fields, 11 pages
W-3
46 fields, 2 pages
940
97 fields, 3 pages
944
114 fields, 3 pages
Employers who pay wages subject to federal income tax withholding or Social Security and Medicare taxes.
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Every quarter, once you have filed your first one, even when there is nothing to report, unless you are a seasonal employer or filing a final return.
April 30, July 31, October 31 and January 31 for the four quarters. An employer who deposited every tax on time may file by the 10th day of the second month after the quarter.
Form 941 reports withheld income tax and Social Security and Medicare taxes each quarter. Form 940 reports federal unemployment (FUTA) tax once a year.
If the tax for the current or prior quarter is under $2,500 and no $100,000 next-day deposit rule applied, you can pay with the return instead of depositing.
File Form 941-X to correct a filed return. The instructions say that form can also be e-filed.
Yes. The IRS matches Form 941 totals to Form W-3 for withheld income tax, Social Security wages and tips, and Medicare wages and tips.
