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Fill a Valid IRS 941 Template

The IRS 941 form is a quarterly tax return that employers use to report income taxes, Social Security tax, and Medicare tax withheld from employee wages. This form helps the IRS track payroll taxes and ensures that businesses comply with federal tax laws. Understanding how to fill it out correctly is essential for any employer, so be sure to get started by clicking the button below.

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Content Overview

The IRS Form 941, also known as the Employer's Quarterly Federal Tax Return, plays a crucial role in the tax compliance landscape for businesses in the United States. Employers use this form to report income taxes withheld from employee paychecks, as well as the employer's share of Social Security and Medicare taxes. Each quarter, businesses must accurately complete and submit Form 941 to the Internal Revenue Service, ensuring that they meet their tax obligations. This form not only helps in tracking the amounts owed to the government but also serves as a record of the wages paid to employees and the taxes withheld. Understanding the various sections of Form 941, including the calculation of tax liabilities and the reporting of adjustments, is essential for employers to avoid penalties and maintain compliance. Additionally, the form provides vital information that can impact a company's financial health and tax planning strategies. Keeping accurate records and filing on time is key to navigating the complexities of payroll taxes and fulfilling legal responsibilities.

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Similar forms

IRS Form 940: This form is used to report annual Federal Unemployment Tax Act (FUTA) taxes. Like Form 941, it is filed by employers to report taxes withheld from employee wages.
IRS Form W-2: Employers use this form to report wages paid to employees and the taxes withheld. Both forms serve to inform the IRS about employee earnings and tax withholdings.
IRS Form W-3: This is a summary form that accompanies Form W-2. It provides the total earnings and withholdings for all employees, similar to how Form 941 summarizes quarterly tax information.
New York Articles of Incorporation: This document is essential for establishing a corporation in New York, as it lays the groundwork for legal recognition and operational capabilities. For more information, refer to the Articles of Incorporation.
IRS Form 1099-MISC: Used for reporting payments made to independent contractors. While Form 941 focuses on employee wages, both forms track compensation and tax responsibilities.
IRS Form 944: This form is an annual version of Form 941 for smaller employers. It also reports payroll taxes but is filed less frequently, similar in purpose to Form 941.
IRS Form 945: This form is used to report nonpayroll tax withholding, such as from pensions or annuities. Both forms report tax withholdings, but they apply to different types of payments.
IRS Form 1095-C: Employers provide this form to report health insurance coverage offered to employees. It complements Form 941 by detailing employee benefits and their tax implications.
IRS Form 8962: This form is used to claim the Premium Tax Credit. While it serves a different purpose, both forms relate to tax obligations stemming from employee compensation.
IRS Form 720: This form is used to report and pay federal excise taxes. Similar to Form 941, it requires detailed reporting of tax liabilities, although it focuses on different types of taxes.

Document Specifics

Fact Name	Details
Purpose	The IRS Form 941 is used by employers to report income taxes, Social Security tax, and Medicare tax withheld from employee wages.
Filing Frequency	This form must be filed quarterly. Employers need to submit it four times a year.
Due Dates	Form 941 is due on the last day of the month following the end of each quarter. For example, the due date for the first quarter is April 30.
Who Must File	Any employer who pays wages subject to federal income tax withholding must file Form 941.
State-Specific Forms	Some states have their own forms for reporting payroll taxes, such as California's DE 9 and New York's NYS-45.
Penalties for Late Filing	Employers may face penalties for failing to file Form 941 on time. The penalty amount can vary based on how late the form is submitted.
Electronic Filing	Employers can file Form 941 electronically through the IRS e-file system or through authorized e-file providers.
Record Keeping	Employers must keep records of employment taxes for at least four years after the date the tax becomes due or is paid.

Things You Should Know About This Form

What is the IRS 941 form?
The IRS 941 form, officially known as the "Employer's Quarterly Federal Tax Return," is a document that employers use to report income taxes, Social Security tax, and Medicare tax withheld from employee paychecks. This form is filed quarterly and provides the IRS with information about the employer's payroll tax obligations.
Who needs to file Form 941?
Any employer who pays wages to employees must file Form 941. This includes businesses, non-profit organizations, and government entities. If you have employees and withhold taxes from their pay, you are required to submit this form each quarter.
When is Form 941 due?
Form 941 is due four times a year, specifically on the last day of the month following the end of each quarter. The due dates are:
- April 30 for the first quarter (January - March)
- July 31 for the second quarter (April - June)
- October 31 for the third quarter (July - September)
- January 31 for the fourth quarter (October - December)
What information do I need to complete Form 941?
To fill out Form 941, you will need several pieces of information, including:
- Your business's name, address, and Employer Identification Number (EIN)
- The total number of employees you paid during the quarter
- The total wages paid to employees
- The amount of federal income tax withheld
- Social Security and Medicare tax amounts
What happens if I miss the filing deadline for Form 941?
If you miss the filing deadline, you may incur penalties and interest on any unpaid taxes. The IRS can impose a penalty of 5% of the unpaid tax for each month the return is late, up to a maximum of 25%. It is important to file on time to avoid these additional costs.
Can I file Form 941 electronically?
Yes, you can file Form 941 electronically. The IRS encourages electronic filing as it is faster and more secure. You can use the IRS e-file system or approved tax software to submit your form. Electronic filing also allows for quicker processing and confirmation of your submission.

Documents used along the form

The IRS Form 941 is a crucial document for employers, as it reports payroll taxes withheld from employees' wages. However, several other forms and documents often accompany it to ensure compliance with tax regulations. Below is a list of commonly used forms that work in conjunction with the IRS Form 941.

Form W-2: This form reports an employee's annual wages and the taxes withheld from their paycheck. Employers must provide a W-2 to each employee by January 31st of the following year.
Form W-3: This is a summary form that accompanies the W-2s when submitted to the Social Security Administration. It summarizes the total wages and taxes withheld for all employees.
Form 940: This form is used to report and pay federal unemployment taxes (FUTA). Employers must file this form annually, and it helps fund unemployment benefits for workers.
Indiana Transfer-on-Death Deed: This legal document allows property owners to transfer real estate to beneficiaries upon death without probate, simplifying the process and providing clarity to heirs. More information can be found at transferondeathdeedform.com/indiana-transfer-on-death-deed/.
Form 1099-MISC: This form is used to report payments made to independent contractors. If a contractor earns $600 or more in a year, the employer must issue a 1099-MISC.
Form 944: Small employers with an annual payroll tax liability of $1,000 or less can file this annual form instead of the quarterly Form 941.
Form 1095-C: Employers with 50 or more full-time employees must provide this form to report health insurance coverage offered to employees under the Affordable Care Act.
Form 720: This form is used to report and pay federal excise taxes, which may apply to certain businesses based on their activities or products.
Form 8862: This form is used by taxpayers who have previously had their Earned Income Tax Credit (EITC) denied and wish to claim it again. It helps to verify eligibility.
Form 1094-C: This is a transmittal form that accompanies the 1095-C forms when submitted to the IRS. It provides a summary of the health coverage offered by the employer.

Understanding these forms and documents is essential for maintaining compliance with tax obligations. Each plays a specific role in the broader context of payroll and tax reporting, ensuring that both employers and employees meet their responsibilities efficiently.

IRS 941 Preview

Form 941 for 2023:	Employer’s QUARTERLY Federal Tax Return	950122
		950122
(Rev. March 2023)	Department of the Treasury — Internal Revenue Service	OMB No. 1545-0029

Employer identification number (EIN)

—

Name (not your trade name)

Trade name (if any)

Address

Number	Street			Suite or room number


City			State		ZIP code


Foreign country name		Foreign province/county			Foreign postal code

Report for this Quarter of 2023

(Check one.)

1: January, February, March

2: April, May, June

3: July, August, September

4: October, November, December

Go to www.irs.gov/Form941 for instructions and the latest information.

Read the separate instructions before you complete Form 941. Type or print within the boxes.

Part 1: Answer these questions for this quarter.

1	Number of employees who received wages, tips, or other compensation for the pay period
	including: Mar. 12 (Quarter 1), June 12 (Quarter 2), Sept. 12 (Quarter 3), or Dec. 12 (Quarter 4) 1


2	Wages, tips, and other compensation						.	2
3	Federal income tax withheld from wages, tips, and other compensation						.	3
4	If no wages, tips, and other compensation are subject to social security or Medicare tax
				Column 1		Column 2.
5a	Taxable social security wages* . .			.	× 0.124 =	Column 2.
							.
5a	(i)	Qualified sick leave wages* .		.	× 0.062 =		.
							.
5a	(ii)	Qualified family leave wages* .		.	× 0.062 =		.
							.
5b	Taxable social security tips . . .			.	× 0.124 =		.
							.
5c	Taxable Medicare wages & tips. .			.	× 0.029 =		.
5d	Taxable wages & tips subject to
5d	Taxable wages & tips subject to			.	× 0.009 =		.
	Additional Medicare Tax withholding			.	× 0.009 =		.
5e	Total social security and Medicare taxes. Add Column 2 from lines 5a, 5a(i), 5a(ii), 5b, 5c, and 5d							5e
5f	Section 3121(q) Notice and Demand—Tax due on unreported tips (see instructions) .						.	5f
6	Total taxes before adjustments. Add lines 3, 5e, and 5f						.	6
7	Current quarter’s adjustment for fractions of cents						.	7
8	Current quarter’s adjustment for sick pay						.	8
9	Current quarter’s adjustments for tips and group-term life insurance						.	9
10	Total taxes after adjustments. Combine lines 6 through 9						.	10
11a	Qualified small business payroll tax credit for increasing research activities. Attach Form 8974							11a
11b	Nonrefundable portion of credit for qualified sick and family leave wages for leave taken
	before April 1, 2021		. . . . . . . . . . . . . . . . . . . . . .				.	11b

Check and go to line 6.

*Include taxable qualified sick and family leave wages paid in this quarter of 2023 for leave taken after March 31, 2021, and before October 1, 2021, on line 5a. Use lines 5a(i) and 5a(ii) only for taxable qualified sick and family leave wages paid in this quarter of 2023 for leave taken after March 31, 2020, and before April 1, 2021.

11c Reserved for future use . . . . . . . . . . . . . . . . . . . . . . 11c

You MUST complete all three pages of Form 941 and SIGN it.

For Privacy Act and Paperwork Reduction Act Notice, see the back of the Payment Voucher.

Cat. No. 17001Z

Form 941 (Rev. 3-2023)

951222

Name (not your trade name)		Employer identification number (EIN)
		–
Part 1:	Answer these questions for this quarter. (continued)

11d Nonrefundable portion of credit for qualified sick and family leave wages for leave taken after March 31, 2021, and before October 1, 2021 . . . . . . . . . . . . . 11d


11e	Reserved for future use	. . . . . . . . . 11e	.
11f	Reserved for future use
11f	Reserved for future use

11g	Total nonrefundable credits. Add lines 11a, 11b, and 11d	11g
12	Total taxes after adjustments and nonrefundable credits. Subtract line 11g from line 10 .	12

13a	Total deposits for this quarter, including overpayment applied from a prior quarter and
	overpayments applied from Form 941-X, 941-X (PR), 944-X, or 944-X (SP) filed in the current quarter	13a
13b	Reserved for future use	13b

13c Refundable portion of credit for qualified sick and family leave wages for leave taken
before April 1, 2021	13c
13d Reserved for future use	13d

13e Refundable portion of credit for qualified sick and family leave wages for leave taken after March 31, 2021, and before October 1, 2021 . . . . . . . . . . . . . . 13e

13f	Reserved for future use	13f
13g	Total deposits and refundable credits. Add lines 13a, 13c, and 13e	13g
13h	Reserved for future use	13h
13i	Reserved for future use	13i

14Balance due. If line 12 is more than line 13g, enter the difference and see instructions . . . 14


15	Overpayment. If line 13g is more than line 12, enter the difference	.	Check one:

Apply to next return.

Send a refund.

Part 2: Tell us about your deposit schedule and tax liability for this quarter.

If you’re unsure about whether you’re a monthly schedule depositor or a semiweekly schedule depositor, see section 11 of Pub. 15.

16 Check one:

Line 12 on this return is less than $2,500 or line 12 on the return for the prior quarter was less than $2,500, and you didn’t incur a $100,000 next-day deposit obligation during the current quarter. If line 12 for the prior quarter was less than $2,500 but line 12 on this return is $100,000 or more, you must provide a record of your federal tax liability. If you’re a monthly schedule depositor, complete the deposit schedule below; if you’re a semiweekly schedule depositor, attach Schedule B (Form 941). Go to Part 3.

You were a monthly schedule depositor for the entire quarter. Enter your tax liability for each month and total

liability for the quarter, then go to Part 3.


Tax liability: Month 1	.

Month 2	.

Month 3	.

Total liability for quarter	.	Total must equal line 12.

You were a semiweekly schedule depositor for any part of this quarter. Complete Schedule B (Form 941),

Report of Tax Liability for Semiweekly Schedule Depositors, and attach it to Form 941. Go to Part 3.

You MUST complete all three pages of Form 941 and SIGN it.

Page 2

Form 941 (Rev. 3-2023)

950922

Name (not your trade name)

Employer identification number (EIN)

–

Part 3: Tell us about your business. If a question does NOT apply to your business, leave it blank.

17 If your business has closed or you stopped paying wages . . . . . . . . . . . . . . .

Check here, and

enter the final date you paid wages

/ /

; also attach a statement to your return. See instructions.

18 If you’re a seasonal employer and you don’t have to file a return for every quarter of the year . . .

Check here.

19Qualified health plan expenses allocable to qualified sick leave wages for leave taken before April 1, 2021

20Qualified health plan expenses allocable to qualified family leave wages for leave taken before April 1, 2021

21	Reserved for future use
22	Reserved for future use

23Qualified sick leave wages for leave taken after March 31, 2021, and before October 1, 2021

24Qualified health plan expenses allocable to qualified sick leave wages reported on line 23

25Amounts under certain collectively bargained agreements allocable to qualified sick

leave wages reported on line 23 . . . . . . . . . . . . . . . . . . .

26Qualified family leave wages for leave taken after March 31, 2021, and before October 1, 2021

27Qualified health plan expenses allocable to qualified family leave wages reported on line 26

28Amounts under certain collectively bargained agreements allocable to qualified family leave wages reported on line 26 . . . . . . . . . . . . . . . . . . .


19	.

20	.

21	.

22	.

23	.

24	.

25	.

26	.

27	.

28	.

Part 4: May we speak with your third-party designee?

Do you want to allow an employee, a paid tax preparer, or another person to discuss this return with the IRS? See the instructions

for details.

Yes. Designee’s name and phone number

Select a 5-digit personal identification number (PIN) to use when talking to the IRS.

No.

Part 5: Sign here. You MUST complete all three pages of Form 941 and SIGN it.

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.

Sign your name here

Date

/ /

Print your name here

Print your title here

Best daytime phone

Paid Preparer Use Only

Preparer’s name

Preparer’s signature

Firm’s name (or yours if self-employed)

Address

City

State

Check if you’re self-employed . . .

PTIN

Date	/	/
EIN
EIN
Phone
Phone

ZIP code

Page 3

Form 941 (Rev. 3-2023)

951020

This page intentionally left blank

Form 941-V, Payment Voucher

Purpose of Form

Complete Form 941-V if you’re making a payment with Form 941. We will use the completed voucher to credit your payment more promptly and accurately, and to improve our service to you.

Making Payments With Form 941

To avoid a penalty, make your payment with Form 941 only if:

•Your total taxes after adjustments and nonrefundable credits (Form 941, line 12) for either the current quarter or the preceding quarter are less than $2,500, you didn’t incur a $100,000 next-day deposit obligation during the current quarter, and you’re paying in full with a timely filed return; or

•You’re a monthly schedule depositor making a payment in accordance with the Accuracy of Deposits Rule. See section 11 of Pub. 15 for details. In this case, the amount of your payment may be $2,500 or more.

Otherwise, you must make deposits by electronic funds transfer. See section 11 of Pub. 15 for deposit instructions. Don’t use Form 941-V to make federal tax deposits.

▲! Use Form 941-V when making any payment with Form 941. However, if you pay an amount with

CAUTION Form 941 that should’ve been deposited, you may be subject to a penalty. See Deposit Penalties in section 11 of Pub. 15.

Specific Instructions

Box 1—Employer identification number (EIN). If you don’t have an EIN, you may apply for one online by visiting the IRS website at www.irs.gov/EIN. You may also apply for an EIN by faxing or mailing Form SS-4 to the IRS. If you haven’t received your EIN by the due date of Form 941, write “Applied For” and the date you applied in this entry space.

Box 2—Amount paid. Enter the amount paid with Form 941.

Box 3—Tax period. Darken the circle identifying the quarter for which the payment is made. Darken only one circle.

Box 4—Name and address. Enter your name and address as shown on Form 941.

•Enclose your check or money order made payable to “United States Treasury.” Be sure to enter your

EIN, “Form 941,” and the tax period (“1st Quarter 2023,” “2nd Quarter 2023,” “3rd Quarter 2023,” or “4th Quarter 2023”) on your check or money order. Don’t send cash.

Don’t staple Form 941-V or your payment to Form 941 (or to each other).

•Detach Form 941-V and send it with your payment

and Form 941 to the address in the Instructions for Form 941.

Note: You must also complete the entity information above Part 1 on Form 941.

Detach Here and Mail With Your Payment and Form 941.

Form		941-V			Payment Voucher		OMB No. 1545-0029
Form		941-V			Payment Voucher

	Department of the Treasury		Don’t staple this voucher or your payment to Form 941.				2023
	Internal Revenue Service		Don’t staple this voucher or your payment to Form 941.				2023
	1 Enter your employer identification			2		Dollars		Cents
		number (EIN).			Enter the amount of your payment.
					Enter the amount of your payment.
		–			Make your check or money order payable to “United States Treasury.”
3		Tax Period		4 Enter your business name (individual name if sole proprietor).

		1st	3rd
		1st	3rd
		Quarter	Quarter		Enter your address.

		2nd	4th
		2nd	4th		Enter your city, state, and ZIP code; or your city, foreign country name, foreign province/county, and foreign postal code.
		Quarter	Quarter

Form 941 (Rev. 3-2023)

Privacy Act and Paperwork Reduction Act Notice. We ask for the information on Form 941 to carry out the Internal Revenue laws of the United States. We need it to figure and collect the right amount of tax. Subtitle C, Employment Taxes, of the Internal Revenue Code imposes employment taxes on wages and provides for income tax withholding. Form 941 is used to determine the amount of taxes that you owe. Section 6011 requires you to provide the requested information if the tax is applicable to you. Section 6109 requires you to provide your identification number. If you fail to provide this information in a timely manner, or provide false or fraudulent information, you may be subject to penalties.

You’re not required to provide the information requested on a form that is subject to the Paperwork Reduction Act unless the form displays a valid OMB control number. Books and records relating to a form or its instructions must be retained as long as their contents may become material in the administration of any Internal Revenue law.

Generally, tax returns and return information are confidential, as required by section 6103. However, section 6103 allows or requires the IRS to disclose or give the information shown on your tax return to others as described in the Code. For example, we may disclose your tax information to the Department of

Justice for civil and criminal litigation, and to cities, states, the District of Columbia, and U.S. commonwealths and possessions for use in administering their tax laws. We may also disclose this information to other countries under a tax treaty, to federal and state agencies to enforce federal nontax criminal laws, or to federal law enforcement and intelligence agencies to combat terrorism.

The time needed to complete and file Form 941 will vary depending on individual circumstances. The estimated average time is:

Recordkeeping . . . . . . . . . . 22 hr., 28 min.

Learning about the law or the form . .	. . 53 min.
Preparing, copying, assembling, and
sending the form to the IRS	1 hr., 18 min.

If you have comments concerning the accuracy of these time estimates or suggestions for making Form 941 simpler, we would be happy to hear from you. You can send us comments from www.irs.gov/FormComments. Or you can send your comments to Internal Revenue Service, Tax Forms and Publications Division, 1111 Constitution Ave. NW, IR-6526, Washington, DC 20224. Don’t send Form 941 to this address. Instead, see Where Should You File? in the Instructions for Form 941.