What is Form 941?
1.5k views | Last modified 4/5/2021 9:17:16 AM EST

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. By filing this form, the employers can know the tax amount they owe to the IRS and pay them through the available payment modes.

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 who wants to e-file Form 941 for 2021, you can complete it using TaxBandits

Employers exempted from filing Form 941 are:

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



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