IRS Form 941 Employer's Quarterly Federal Tax Return

Form 941 Instructions

IRS Form 941 Instructions are as follows:

1. List the details of your organization - write down the name your business uses to deal with customers as well as the name you chose when registering the company and add your identification number and correspondence address. Specify which quarter of the year the instrument in question covers.

2. Indicate how many employees received several types of payment for their work and how much income tax you subtracted from their wages and tips . Calculate the wages and tips separately using the rates and formulas featured in the form. State how much taxes you have to pay before and after applying adjustments - from payments to ill workers to insurance.

3. List nonrefundable credits you are entitled to claim and clarify how many deposits you have made over the course of the quarter . Combine the numbers, find out the balance due, and confirm whether overpayment took place or not - you have an opportunity to get a refund right away or apply it to the next form you file.

4. Disclose the specifics of your tax liability and the schedule you adhere to when making deposits . You may have to share your tax liability on the federal level if you meet the criteria outlined in writing and confirm how much tax you had to pay every month of the quarter.

5. Tell tax organizations about your business in further detail . In case you ceased paying wages or your company has closed, check the box and state the date when you paid the wages for the last time. Specify the health plan expenses that were allocated to sick leave and family leave and the funds allocated in line with legal contracts between the organization and the union.

6. Authorize a representative to discuss the particulars put in the document on your behalf if necessary - ensure the form contains their personal details . Certify the paperwork by adding your name, title, telephone number, and date. Both you and the tax professional you hired to assist you with this form have to sign it.

7. If you prefer to pay with a check or money order, you have to fill out a voucher as well . Detach it from the top part of the page and write down the main particulars about your entity, indicate the quarter you are paying for, and record the payment. Put this voucher in the envelope with the form and the payment.

When Is Form 941 Due?

Since companies are supposed to report how much tax was subtracted and paid every quarter in compliance with the instructions for Form 941, the deadline for this document comes every three months, on the last day of the month after the quarter. This means it is mandatory to mail the papers to the IRS every April 30, July 31, October 31, and January 31. There are a few exceptions to the general rule: if the date happens to be a holiday, Saturday, or Sunday, you have to submit the form on the following business day.

Where to Mail Form 941?

While businesses are advised to opt for e-filing when submitting Tax Form 941 to fiscal authorities, it is still possible to complete and send a traditional paper form. IRS Form 941 mailing address is based on the location of your entity:

1. Alabama, Alaska, Arizona, Arkansas, California, Colorado, Florida, Hawaii, Idaho, Iowa, Kansas, Louisiana, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, South Dakota, Texas, Utah, Washington, and Wyoming companies must send the form to the Department of the Treasury, IRS, Ogden, UT 84201-0005 . If the check or money order is enclosed, the address is IRS, P.O. Box 932100, Louisville, KY 40293-2100 .

2. Mail the documentation to the Department of the Treasury, IRS, Kansas City, MO 64999-0005 if you operate in Connecticut, Delaware, District of Columbia, Georgia, Illinois, Indiana, Kentucky, Maine, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Vermont, Virginia, West Virginia, or Wisconsin. Tax returns with payments must be submitted to the IRS, P.O. Box 806532, Cincinnati, OH 45280-6532 .

3. If you represent a tax-exempt entity or governmental organization, file the statement with the Department of the Treasury, IRS, Ogden, UT 84201-0005 . Alternatively, the address is IRS, P.O. Box 932100, Louisville, KY 40293-2100 in case the payment is attached.

4. Companies that do not have a main place of business anywhere are obliged to send the form to the IRS, P.O. Box 409101, Ogden, UT 84409 ( IRS, P.O. Box 932100, Louisville, KY 40293-2100 for organizations that pay with a money order or check).

How to Amend Form 941?

If you found out that your return contains mistakes or lacks necessary information, file an IRS Form 941-X, Adjusted Employer's Quarterly Federal Tax Return or Claim for Refund.

IRS 941 Related Forms:

• IRS Form 941-X, Adjusted Employer's Quarterly Federal Tax Return or Claim for Refund. This form is used to correct mistakes in the previously filed quarterly report.
• IRS Form 941-SS, Employer's Quarterly Federal Tax Return - American Samoa, Guam, the Commonwealth of the Northern Mariana Islands, and the U.S. Virgin Islands. This form is used only by businesses located and operating on these territories.

IRS Form 941 schedules include:

• Schedule B, Report of Tax Liability for Semi-weekly Schedule Depositors. This schedule is filled by semi-weekly depositors. If an employer has reported more than $50,000 of employment taxes in the lookback period or accumulated a tax liability of $100,000 or more on any given day in the current or prior calendar year, they are considered a semi-weekly depositor;
• Schedule D, Report of Discrepancies Caused by Acquisitions, Statutory Mergers, or Consolidations is used to explain discrepancies between Form W-2, Wage, and Tax Statement and Form 941;
• Schedule R, Allocation Schedule for Aggregate Form 941 Filers. This schedule is used by certified professional employer organizations (CPEOs) and agents approved under IRC section 3504 to allocate the aggregate information reported on Form 941 to each client.