My business no longer pays wages. Do I need to file 941?
512 views | Last modified 3/7/2023 2:10:23 AM EST | Added by TaxBandits Team

If you no longer pay wages, you must file a final return with the IRS. To indicate that you must check line 17 on Form 941 that your business is closed.

However, if your business is not closed and you did not pay any wages to the employees, you still have to file a return with the IRS with all the values set to zero. Use our “Zero Reporting” to file your return in a couple of simple steps.

Here is how you complete filing your return with the zero reporting feature:

After filling out the employer information, check the “Zero Reporting” box. It will help you file directly without going through the entire form. 

TaxBandits helps you complete Form 941 2023.