Quarterly Federal Tax Return

A Quarterly Federal Tax Return refers to the periodic filing of taxes (typically using Form 941) that employers submit to the IRS to report income taxes, Social Security, and Medicare taxes withheld from employees’ paychecks, as well as the employer’s portion of those taxes. Form 941 must be filed four times a year, with deadlines generally falling at the end of the month following each calendar quarter: Q1 is April 30 (for January–March), Q2 is July 31 (for April–June), Q3 is October 31 (for July–September), Q4 is January 31 (for October–December).

Employers must also ensure timely deposits of withheld taxes according to their assigned deposit schedule (monthly or semi-weekly), and reconcile quarterly filings with annual reports such as Form W-2 and Form W-3.

Key Facts

• Frequency: Filed four times per year - by the end of April, July, October, and January.‍
• Form Used: Most commonly IRS Form 941 (Employer’s Quarterly Federal Tax Return).‍
• Purpose: Reports wages paid, tips received, and taxes withheld and owed.‍
• Who Files: Employers who withhold federal income tax or Social Security/Medicare taxes.‍
• Penalties: Late or inaccurate filings may incur IRS penalties and interest.

1. Who needs to file a Quarterly Federal Tax Return?

Any employer who withholds income, Social Security, or Medicare taxes from employees.

2. What form is used to file quarterly taxes?

Form 941, unless you're a seasonal employer or otherwise instructed to use Form 944 annually.

3. When are quarterly tax returns due?

April 30, July 31, October 31, and January 31 (following the end of each quarter).

4. What taxes are reported on Form 941?

Federal income tax, Social Security tax, and Medicare tax (both employee and employer shares).

5. Can I file Form 941 electronically?

Yes, the IRS strongly encourages e-filing using an authorized provider or payroll service.