Form 941 - Employer's Quarterly Federal Tax Form

by admin 14. March 2011 16:33

Following is the basic information about Form 941 - Employer's Quarterly Federal Tax Form. More information can be found from IRS site.


What is form 941:


Form 941- Employer's Quarterly Federal Tax Form is the form used by employers to report employment taxes , withholding amounts, deposit amounts, and amounts due to the IRS. 


Who Must File Form 941?


Use Form 941 to report the following amounts.

·         Wages you have paid.

·         Tips your employees have received.

·         Federal income tax you withheld.

·         Both the employer's and the employee's share of social security and Medicare taxes.

·         Current quarter's adjustments to social security and Medicare taxes for fractions of cents, sick pay, tips, and group-term life insurance.

·         Advance earned income credit (EIC) payments.

·         Credit for COBRA premium assistance payments.

·         Exemption for qualified employer's share of social security tax on wages/tips paid to qualified employees.

Do not use the Form 941 to report backup withholding or income tax withholding on nonpayroll payments such as pensions, annuities, and gambling winnings. Report these types of withholding on Form 945, Annual Return of Withheld Federal Income Tax.


After you file your first Form 941, you must file a return for each quarter, even if you have no taxes to report, unless you filed a final return or one of the exceptions listed below applies.



Special rules apply to some employers.

  • Seasonal employers do not have to file a Form 941 for quarters in which they have no tax liability because they have paid no wages. To tell the IRS that you will not file a return for one or more quarters during the year, check the box on line 19 every quarter you file Form 941. See section 12 of Pub. 15 (Circular E) for more information.
  • Employers of household employees do not usually file Form 941. See Pub. 926, Household Employer's Tax Guide, and Schedule H (Form 1040), Household Employment Taxes, for more information. 
  • Employers of farm employees do not usually file Form 941. See Form 943, Employer's Annual Federal Tax Return for Agricultural Employees, and Pub. 51 (Circular A), Agricultural Employer's Tax Guide.


When To File Form 941

Your Form 941 is due by the last day of the month that follows the end of the quarter.

1. First Quarter:  January, February, March 

Quarter Ends: March 31

Form 941 is due: April 30


2. Second Quarter:  April, May, June 

Quarter Ends: June 30

Form 941 is due: July 31


3. Third Quarter:  July, August, September

Quarter Ends: September 30

Form 941 is due: October 31


4. Fourth Quarter:  October, November, December

Quarter Ends: December 31

Form 941 is due: January 31


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