Form 941

Form 941, titled “Employer’s Quarterly Federal Tax Return,” is an IRS form used by employers to report income taxes, Social Security tax, and Medicare tax withheld from employees’ wages. Employers also use this form to calculate and pay the employer’s portion of Social Security and Medicare taxes. It must be filed quarterly, providing the IRS with a regular update on payroll tax liabilities and payments for each calendar quarter.

Key Facts

• Purpose: To report federal income tax withheld and both employer and employee Social Security and Medicare taxes.
• ‍Filing Frequency: Filed quarterly, covering wages paid during each calendar quarter.‍
• Who Must File: Employers who pay wages subject to federal income tax withholding, Social Security, or Medicare taxes.‍
• Due Dates: Generally due by the last day of the month following the end of the quarter (for example, April 30 for Q1).‍
• Payment: Employers must deposit payroll taxes periodically, based on the size of their payroll, using IRS Electronic Federal Tax Payment System (EFTPS) or other approved methods.

1. Who must file Form 941?

Employers who withhold federal income tax or pay Social Security and Medicare taxes on employee wages.

2. How often is Form 941 filed?

Form 941 is filed quarterly, four times per year.

3. What taxes are reported on Form 941?

Federal income tax withheld, Social Security tax, and Medicare tax for both employees and employers.

4. When is Form 941 due?

Generally, the form is due by the last day of the month following each quarter (April 30, July 31, October 31, and January 31).

5. Can I file Form 941 electronically?

Yes, the IRS allows and encourages electronic filing through authorized e-file providers or payroll service companies.