What is a lookback period for Form 941?
993 views | Last modified 2/28/2022 2:57:46 AM EST

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

The IRS Form 941 is a federal tax return that must be filed for each of the calendar year's four quarters. This four-quarter period is referred to as a lookback phase. To put it another way, the lookback period is a 12-month period that begins on July 1 and ends on June 30. The lookback period for 2022 is July 1, 2020 to June 30, 2021.

Usually, the total tax amount in the lookback period determines the deposit schedule - either monthly or semiweekly. If the tax amount reported in Form 941, Line 12, is $50,000 or less, you are a monthly schedule depositor. If the total tax amount is exceeding $50,000, you are a semiweekly schedule depositor.

See the lookback period for 2022 below:

  • July 1, 2020, to September 30, 2020 - 1st Quarter
  • October 1, 2020, to December 31, 2020 - 2nd Quarter
  • January 1, 2021, to March 31, 2021 - 3rd Quarter
  • April 1, 2021, to June 30, 2021 - 4th Quarter

 If you've filed only Form 941, the lookback period is the 12 months (covering four quarters) ending on June 30th of the prior year. 

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