TaxBandits Knowledge Base

What is the due date to file Form 941-X to correct the underreported tax amount?

Generally, you may correct overreported taxes on a previously filed Form 941 if you file Form 941-X within 3 years of the date Form 941 was filed or 2 years from the date you paid the tax reported on Form 941, whichever is later. You may correct underreported taxes on a previously filed Form 941 if you file Form 941-X within 3 years of the date Form 941 was filed. This will ensure interest-free correction and will not be subject to FTD penalties.