by tammieb
11. March 2023 17:18
ezPaycheck Payroll Software and ezAccounting Business Task Software Released to Support 2023 Form 941 Changes. Current 2023 customers will get the 2023 941 Form update at no cost.
Employers use Form 941 to: Report income taxes, Social Security tax, or Medicare tax withheld from employee's paychecks. Pay the employer's portion of Social Security or Medicare tax.
Failure to timely file a Form 941 may result in a penalty of 5% of the tax due with that return for each month or part of a month the return is late. The penalty caps out at 25%. A separate penalty applies for making tax payments late or paying less than you owe.
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