What is Form 941-X?

IRS Form 941-X (Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund) is used by employers to correct errors or claim refunds for the previously filed Form 941. You must file a separate 941-X for each tax period for which there was an error.

Criteria for Filing Form 941-X

Form 941-X can be filed for underreported and overreported taxes:

• Underreported taxes - If you reported less income, but the actual income is more than the reported one, you can file a 941-X for underreported taxes. You must make a tax payment when you file the form.
• Overreported taxes -  If you reported more income, but the actual income is less than the reported one. By reporting overreported taxes, you can claim either a refund or an abatement for your next return.