Instructions for IRS Form 941 Employer's Quarterly Federal Tax Return

IRS Form 941 Schedule B Report of Tax Liability for Semiweekly Schedule Depositors

This document contains official instructions for IRS Form 941 , Employer's Quarterly Federal Tax Return - a tax form released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury. An up-to-date fillable IRS Form 941 Schedule B is available for download through this link.

FAQ

Q: What is IRS Form 941?
A: IRS Form 941 is the Employer's Quarterly Federal Tax Return.

Q: Who needs to file IRS Form 941?
A: Employers who withhold federal income tax, Social Security tax, or Medicare tax from employee's wages or who are liable for these taxes on tips or group life insurance are required to file IRS Form 941.

Q: When is IRS Form 941 due?
A: IRS Form 941 is due by the last day of the month following the end of each quarter. For example, for the first quarter of the year (January-March), the form is due by April 30.

Q: What information is required on IRS Form 941?
A: IRS Form 941 requires information regarding the number of employees, wages paid, and taxes withheld during the quarter.

Q: Can I file IRS Form 941 electronically?
A: Yes, you can file IRS Form 941 electronically using the IRS e-file system.

Q: What happens if I don't file IRS Form 941?
A: If you don't file IRS Form 941 or if you file it late, you may be subject to penalties and interest on any unpaid taxes.

Q: How often do I need to file IRS Form 941?
A: IRS Form 941 is filed quarterly, meaning it needs to be filed four times a year.

Q: Is IRS Form 941 the same as Form W-2?
A: No, IRS Form 941 is different from Form W-2. Form W-2 reports an employee's annual wages and the taxes withheld from those wages, while Form 941 reports the employer's quarterly tax liability.

Q: Can I make corrections on IRS Form 941?
A: Yes, if you made an error on a previously filed Form 941, you can make corrections by filing Form 941-X, Adjusted Employer's Quarterly Federal Tax Return or Claim for Refund.