What Is Form 941? Facts and Filing Tips for Small Businesses

Unlike social security wages, there is no limit on the amount of wages subject to Medicare tax. Don’t include allocated tips (described in section 6 of Pub. 15) on this line. Allocated tips aren’t reportable on Form 941 and aren’t subject to withholding of federal income, social security, or Medicare tax. Go to IRS.gov/EmploymentEfile for more information on electronic filing. If you file a paper return, where you file depends on whether you include a payment with Form 941. Mail your return to the address listed for your location in the table that follows.

Filing Methods for IRS Form 941

If you’re a semiweekly schedule depositor, you must complete Schedule B (Form 941). If you fail to complete and submit Schedule B (Form 941), the IRS may assess deposit penalties based what is a 941 on available information. For more information and rules about federal tax deposits, see Depositing Your Taxes, earlier, and section 11 of Pub. If you need to correct any adjustment reported on a previously filed Form 941, complete and file Form 941-X. Form 941-X is an adjusted return or claim for refund and is filed separately from Form 941.

First Quarter 2026: January Through March

Your deposit schedule isn’t determined by how often you pay your employees. Your deposit schedule depends on the total tax liability Purchases Journal you reported on Form 941 during the previous 4-quarter lookback period (July 1 of the second preceding calendar year through June 30 of the preceding calendar year). If you filed Form 944 in either 2023 or 2024, your lookback period is the 2023 calendar year. References to federal income tax withholding don’t apply to employers in American Samoa, Guam, the Commonwealth of the Northern Mariana Islands (CNMI), the U.S. Virgin Islands (USVI), and Puerto Rico, unless you have employees who are subject to U.S. income tax withholding. Contact your local tax department for information about income tax withholding.

Get answers to your ERC questions

Before the beginning of each calendar year, you must determine which of the two deposit schedules you are required to use. To determine your payment schedule, review Publication 15 for Forms 941, 944 and 945. Congress passed legislation that modified the ERC after it was first enacted. If you need historical information about claiming an advance payment of the ERC in its first version, see Employee Retention Credit frequently asked questions.

If none of these exceptions apply and you haven’t filed a final return, you must file Form 941 each quarter even if you didn’t pay wages during the quarter. After you file your first Form 941, you must file a return for each quarter, even if you have no taxes to report, unless you filed a final return or one of the exceptions listed next applies. For more information on depositing taxes, see section 11 of Pub.

PDS deliveries should only be sent to one of these IRS addresses. 1095Hawk is the most effective way to prepare and file your organization’s ACA 1095 forms. We’re currently processing forms we received during the months shown below. This does not include those that require error correction or other special handling.

If you used an EIN (including a prior owner’s EIN) on Form 941 that is different from the EIN reported on Form W-3, see Box h—Other EIN used this year in the General Instructions for Forms W-2 and W-3. On Form W-3 (PR), “Other EIN used this year” is reported in box f. Filing a Form 941 with an incorrect EIN or using another business’s EIN may result in penalties and delays in processing your return. Use the March 2025 revision of Form 941 to report taxes for the first quarter of 2025; don’t use an earlier revision to report taxes for 2025. At this time, the IRS expects the March 2025 revision of Form 941 and these instructions to also be used for the second, third, and fourth quarters of 2025.

What Employers Need to Know About IRS Form 941.

If your correction means you overpaid, you can choose to have the overpayment refunded or applied as a credit to your next return. For example, the 941 form 2025 third-quarter return will be due on October 31, 2025, but the fourth-quarter due date, January 31, 2026, falls on a Saturday, meaning the deadline will be Monday, February 2, 2026. If their Social Security and Medicare taxes aren’t https://redatores.pandartt.com.br/advance-and-arrears-understanding-the-differences/ properly credited, it could impact the accuracy of their future benefits. The IRS updates Form 941 and its instructions regularly to reflect changes in tax laws and regulations. Employers should use the most recent version of the form and instructions when filing.

• For more information on electronic payment options, go to IRS.gov/Payments.
• Missing these deadlines puts you at risk of late penalties and interest charges.
• The Jericho 941 ORP is one of those truly excellent modernizations that sticks the landing.
• 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.
• If their Social Security and Medicare taxes aren’t properly credited, it could impact the accuracy of their future benefits.

Other includes injured spouse, exempt organization, and employee plans. Use Form 941-X to correct errors on a Form 941 that you previously filed. If the IRS disallowed your ERC claim with Letter 105-C and you disagree, you may request an administrative appeal, review by the IRS Independent Office of Appeals, or file suit. See Understanding Letter 105-C, Disallowance of the Employee Retention Credit for more details. Offer health, dental, vision and more to recruit & retain employees. If you are looking to outsource Paychex can help you manage HR, payroll, benefits, and more from our industry leading all-in-one solution.

April 15 is the most well-known tax deadline of the year. Individual taxpayers must file Form 1040 or 1040-SR, and the first quarter 2026 estimated tax payment is due via Form 1040-ES. The IRS is concerned about a large number of improper ERC claims and is closely reviewing tax returns that claim the credit. The IRS urges taxpayers to review their claims and quickly resolve incorrect ones.