IRS Form 941, also known as the Employer Quarterly Tax Return, is an important document used by US employers to file their federal income tax returns. It ensures proper documentation of employee wages, tax withholdings, and other payroll-related information, like Social Security and Medicare taxes.
Understanding the filing process for 941 is crucial, and this blog will help you understand everything about Form 941 for Q3.
What is Form 941?
Employers use Form 941 (Employer’s Quarterly Federal Tax Return) to report income taxes, Social Security taxes, or Medicare taxes withheld from employees’ paychecks.
Final Checklist Before Filing Form 941
- Your Employer Identification Number (EIN)
- Your company’s legal name and address
- Number of employees compensated during the quarter
- Employee wages paid in the quarter
- Tips your employees reported to you
- Federal income tax withheld
- Group term life insurance premiums paid for employees
- Employer’s and employees’ share of Social Security and Medicare taxes
- The current quarter’s adjustments to Social Security and Medicare taxes
- Additional Medicare tax withheld from employees
Form 941 Filing Deadline
| Quarter | Period | Deadline |
|---|---|---|
| 1st Quarter | January – March | April 30 |
| 2nd Quarter | April – June | July 31 |
| 3rd Quarter | July – September | October 31 |
| 4th Quarter | October – December | January 31 (following year) |
E-File Form 941 Online in 3 Simple Steps
Step 1: Enter your 941 data manually or use our template to import all the required data.
Step 2: Choose your preferred method to pay your tax due. You can make EFTPS payment with Tax1099.
Step 3: Sign your 941 using Online Signature, review the data, and transmit it to the IRS.
