What is a 941 form?
Form 941, the Employer’s Quarterly Federal Tax Return, is used to report federal income tax, Social Security, and Medicare taxes withheld from employees’ wages, as well as the employer’s share of Social Security and Medicare taxes. Most businesses with employees must file it each quarter to keep their payroll tax reporting up to date, unless the IRS has told them to use a different form (such as Form 944 or 943). It’s a key form for staying compliant with IRS employment tax rules.
What is a 941 Form used for?
Filling out official documents can be daunting, but understanding their purpose is the first step to conquering them. Form 941 is a crucial document for employers. Let's explore its uses:
- Report quarterly federal employment taxes on employees’ wages.
- Summarize employees’ wages, tips, and other compensation for the quarter.
- Show the Social Security and Medicare taxes withheld from employees and owed by the employer.
- Report certain adjustments and credits that affect your quarterly payroll tax balance, including daily tax liabilities if you are a semiweekly schedule depositor.
How to fill out a 941 Form
- 1
Start by entering your Employer Identification Number (EIN) in the designated area.
- 2
Fill in your business name and address accurately.
- 3
Report your employees' wages, tips, and other compensation in the specified sections.
- 4
Calculate and enter the taxes owed based on the wages paid.
- 5
Include your deposit schedule and tax liability for the quarter.
- 6
Review the form for accuracy.
- 7
If you plan to e-file through an authorized IRS provider, you’ll sign it using an IRS-approved electronic signature method; if you plan to mail the form, sign it by hand.
- 8
Download or print the completed form, then submit it to the IRS in accordance with their current filing instructions.
Who is required to fill out a 941 Form?
Most employers that pay wages subject to federal income tax, Social Security, and Medicare taxes must file Form 941 each quarter to report those payroll taxes.
The IRS uses federal 941 Forms to match the taxes you report with the deposits you make and to confirm that you’re paying the correct amount on time.
When is a 941 Form not required?
Form 941 isn’t required in every situation. For example, employers who have only household employees typically report those taxes on Schedule H (Form 1040), and employers who pay wages for agricultural labor report those wages on Form 943 rather than Form 941.
The IRS may tell some small employers to file Form 944 once a year instead of quarterly Forms 941, and seasonal employers only file Form 941 for quarters in which they actually pay wages. Employers required to report daily tax liabilities must also attach Schedule B to Form 941.
When is a 941 Form due?
The deadline to fill in Form 941 and submit it is the last day of the month following the end of the quarter. For example, for wages paid in the first quarter (January to March), Form 941 is due by April 30.
If the due date falls on a weekend or legal holiday, the deadline moves to the next business day.
How to get a blank 941 Form
For those needing to complete a fillable Form 941, our website offers a preloaded IRS template in our editor, allowing you to enter the necessary details directly on our platform without downloading it from another source. Keep in mind that PDF Guru will enable you to create and download Form 941, but not to submit it.
How to sign a 941 Form online
To sign Form 941 in PDF Guru, first complete all required fields and then use the signature tool to add your signature.
If you plan to print and mail the form, this signature will appear when you print the document; if you want to e-file Form 941, you’ll still need to submit it through an IRS-authorized e-file provider using an approved electronic signature method.
After placing your signature, click Done to download your final copy.
Where to file Form 941?
Form 941 can be filed either electronically through an IRS-authorized e-file provider or by mail. The IRS generally recommends e-filing because it’s faster and you get confirmation of receipt.
However, you can still mail a printable Form 941 to the address listed for your state (which also depends on whether you’re including a payment) in the latest IRS instructions.
What other tax forms are related to 941?
Form 941-X
File this form to correct errors on a previously filed Form 941, such as incorrect wages, tips, or tax amounts for a specific quarter. Who uses it: Employers who discover mistakes on a past Form 941 and need to adjust their payroll tax reporting.
Form 940
Report and pay the annual federal unemployment (FUTA) tax separately from the quarterly payroll taxes reported on Form 941. Who uses it: Employers that pay wages subject to federal unemployment tax.
Form 944
Report employment taxes annually instead of quarterly when the IRS authorizes you because your total payroll tax liability is small. Who uses it: Small employers whose annual employment tax liability is generally $1,000 or less and who have been notified by the IRS to file Form 944 instead of Form 941.
