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 pay wages to employees and are required to withhold federal taxes must file Form 941.

Q: What is the purpose of IRS Form 941?
A: The purpose of Form 941 is to report wages paid, tips received, and federal taxes withheld from employees' paychecks.

Q: When is IRS Form 941 due?
A: Form 941 is due at the end of each quarter. The specific due dates are April 30, July 31, October 31, and January 31.

Q: What information is required on IRS Form 941?
A: Form 941 requires information about the employer, the number of employees, wages paid, income taxes withheld, and any adjustments or corrections.

Q: What happens if I don't file IRS Form 941?
A: Failure to file Form 941 or filing it late can result in penalties and interest charges. It's important to meet the filing deadlines to avoid any potential penalties.