I have zero taxes to report. How do I e-file form 941?
298 views | Last modified 4/2/2024 8:55:57 AM EST | Added by TaxBandits Team

If you are running a business and have not paid your workers, the taxes to report for the quarter will be zero. The IRS says that employers should continue to file Form 941 even if they have no taxes or amounts to report.

At TaxBandits, we have built an exclusive feature for employers to report zero taxes. This will save a lot of time, giving more time to concentrate on other important work. The whole concept of this zero filing feature is that you don't have to enter zeros manually. Once you select the relevant option, all of the applicable 941 fields will be updated with zeros. You don't have to navigate through each part of Form 941. You only have to e-sign and transmit the return to the IRS.

Here's how you can complete Form 941 zero filing:

• Sign up or sign in to your TaxBandits account.
• Select Start New Form and click on Form 941.
• Choose the Tax Year and Quarter. Part 1 of Form 941 will be displayed.

• Select the option "Check here if no payments were made to employees in Quarter" box. By doing so, lines 1 to 15 of Part-1 will be marked as zero. The Deposit schedule will be set to minimum tax liability since the tax amount is zero.

• Check the box on Line 17, fill in the business closure information, and click Continue Filing.

• Review Form 941 summary and edit the details if needed.
• Sign your 941 using Online Signature PIN or Form 8453-EMP. By e-signing, you are authorizing TaxBandits to e-file your return.

• Followingly, you can view the filing fee of Form 941. If you want any add-on services, such as text notification and printed copy of Form 941, you can select from here. Once done, click Next.

• Enter the credit card information and click Pay and Transmit to complete filing Form 941 to the IRS.

• Once Form 941 has been successfully transmitted to the IRS, we will send you an email notifying you of the form status, or you can also sign in to the application and view the status at any time. Meanwhile, a copy of Form 941 will be available in the Print Center. For step-by-step instructions on accessing a copy of the form, click here.

Note: If your business is closed, do not forget to mention that this tax return is your final return. This will inform the IRS that you will not be filing Form 941 for the rest of the quarters.