What is Form 941?
280 views | Last modified 10/5/2023 6:15:57 AM EST | Added by TaxBandits Team

Applicable To
94X 1099 W-2 ACA W-4

The IRS Form 941, Employer's Quarterly Federal Tax Return, is used by employers to report the withholding tax amount from their employee's paycheck. The taxes include Federal Income Taxes, social security taxes, and Medicare taxes. The form is also used to report the employer's share of social security taxes and Medicare taxes. Employers can find out how much tax they owe the IRS by filling out this form and paying it in one of the various payment methods.

If your business handles any of the following payroll amounts, you must report Form 941 to the IRS:

  • Wages paid for the employees' work or service
  • Withheld Federal Income Tax from employees' paycheck
  • Employer and employee portion of social security and medicare taxes (FICA)
  • Tips reported by your employees
  • Small business payroll tax credit

Note: Any amount withheld from non-payroll payments cannot be reported using Form 941.

If you're an employer/tax professional looking to e-file Form 941, get in touch with TaxBandits

The following employers are exempt from filing Form 941:

  • Seasonal employers who have not paid wages for the reported quarter.
  • Employers of household employees
  • Employers of farm employees


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