Form 941: The Ultimate Guide for Employers

What is Form 941?

Form 941, Employer's Quarterly Federal Tax Return, is an Internal Revenue Service (IRS) form used by employers to report their quarterly payroll taxes. These taxes include:

• Federal income tax
• Social security tax (FICA)
• Medicare tax (FICA)

Form 941 is due on the last day of the month following the end of each quarter. The four quarters are:

• January 1 - March 31
• April 1 - June 30
• July 1 - September 30
• October 1 - December 31

Employers who are required to file Form 941 must also make estimated tax payments using Form 941-V, Estimated Federal Tax Voucher. Estimated tax payments are due on April 15, June 15, September 15, and January 15 of the following year.

Who Must File Form 941?

All employers who are subject to federal income tax withholding, social security tax, or Medicare tax must file Form 941. This includes:

• Businesses
• Corporations
• Non-profit organizations
• Government agencies
• Individuals who employ household workers

Employers are not required to file Form 941 if they:

• Have no employees
• Are exempt from federal income tax withholding
• Are exempt from social security tax and Medicare tax

How to Complete Form 941

Form 941 is a relatively complex tax form. However, it can be completed in a few steps:

1. Gather your information. You will need to have the following information before you begin:

• Your Employer Identification Number (EIN)
• Your legal name and address
• Your contact information
• Your payroll information for the quarter

Examples of Form 941

Here are some examples of how to complete Form 941:

• Example 1
• Example 2

Helpful Tips for Filing Form 941

Here are some helpful tips for filing Form 941:

• File on time. The due date for Form 941 is the last day of the month following the end of each quarter. If you file late, you may be subject to penalties.
• File accurately. Make sure that you have completed all of the required information and that your calculations are correct. If you make a mistake, you may be subject to penalties.
• Keep a copy of your return. You should keep a copy of your Form 941 for your records. This will help you if you need to refer to it in the future.

Where to Get Help with Form 941

If you need help with Form 941, you can contact the IRS at 1-800-829-4933. You can also visit the IRS website at www.irs.gov for more information.