How to Fill Out Form 941 and Who Needs to File It

Form 941 is part and parcel of tax reporting for US-based employers. This article explains how to file it in accordance with the applicable regulations and describes some instruments that you might find helpful in dealing with it. Read below for step-by-step Form 941 instructions and tips on online 941 filing.

What Is IRS Form 941

Form 941 is part of the US Internal Revenue Service’s tax reporting system. The Service, commonly referred to as the IRS, has introduced this form so that employers can report the amount of tax withheld from the amount earned by their employees on a quarterly basis. Such withholdings are represented by a number of calculations.

These include any amounts withheld from the employee’s paycheck (they should be based on the information reported by each respective employee using a W-4 form), Medicare and Social Security withholdings, the employer’s portion of the Federal Insurance Contributions Act tax, any tax credits arising from contribution to the COVID-19 tax relief program.

To put it shortly, Form 941 is a quarterly federal tax return form that targets employers (see the section below for more details on the term “employer”). If you’ve been wondering how to get Form 941, check our article dedicated to it.

Who Needs to File Form 941

The question on “How to fill out Form 941” is of relevance to all employers in general with a number of exceptions. The latter applies to seasonal employers (quarterly reporting is clearly inapplicable in this case) and those employing farm workers (like in cases covered by Form 943) or household staff. If you have already filed a final tax statement, you aren’t eligible to submit Form 941.

In some cases, the IRS will request you explicitly to file Form 944 rather than 941 as a small business, so you can report tax withholdings from your employees’ paychecks on an annual basis.

How to Fill out Form 941

The up-to-date Form 941 quarterly instructions can be found in the respective section of the IRS website. Check it if you are interested in the history of any developments to make sure you have the right version of the form (if any), or simply download a PDF from the Current Revision subsection.

Please note that the IRS encourages e-filing as a way to reduce paperwork as well as relieve the burden on its officials and the people responsible for the submission.

We recommend filling the form with PDFLiner as it has a highly intuitive editor with a blank Form 941. With the respective form opened in the PDFLiner editor, use your mouse to move from one fillable field to another, entering respective business information (this takes an estimated 20+ hours of bookkeeping to collect).

The form consists of three fillable pages, one blank page, and Form 941-V, a voucher that you only need to use for payments if you meet the eligibility criteria described in the official Form 941 filing instructions.

  1. Fill in your details as an employer in the top left corner of Page 1 and tick the quarter you are reporting the taxes for in the opposite box.

2. Proceed to fill in appropriate amounts for the respective three months’ period in Part 1.
3. Tick one option in Part 2 to report your depositing schedule.
4. Provide applicable details on your business activities on Page 3 (remember to leave any fields that don’t apply blank).

5. In Part 4, tick one option based on whether you have a designee (enter their details if so).
6. Finally, sign the form in Part 5 (see How to Sign Form 941). The bottom part of Page 3 is only to be filled out if you employ a paid preparer to file the form.

How to File Form 941

There are four due dates for this quarterly form. The last quarter of the preceding year is to be reported by January 31, with further submissions no later than April 30, July 31, and October 31. As a form of encouragement, those employers who have deposited all due taxes in a timely manner are allowed another ten calendar days to complete each of the submissions.

For those wondering where to mail Form 941, see the applicable address for your jurisdiction (special options are available to businesses with no legal address) if using a regular post. For e-filing, use IRS-approved software.

How to Sign Form 941

PDFLiner offers an online PDF signing functionality that’s accessible with the editor’s Add Sign tool. It offers a number of options, like typing in your name, attaching or making an image, and drawing your signature with a mouse. See the dedicated article on how to sign Form 941 for more.

FAQ

This section briefly answers a selection of commonly asked questions on how to complete Form 941.
Customer:
When is Form 941 due date?
Support:
Since 941 is a quarterly reporting form, it has four due dates. The employer is to submit the form by January 31 (for the past three months, which partly covers the previous calendar year), April 30, July 31, and October 31. Those who have deposited their taxes no later than the respective due date are entitled to an additional period of ten calendar days per submission.
Customer:
How to amend form 941?
Support:
The IRS expects employers to correct any mistakes in their Form 941 as soon as they are discovered. Please do not file another 941 for this purpose. Instead, use Form 941-X, which can be found on the IRS official website. This applies to under- and overpayments as well as other inaccuracies.
Customer:
Do you have to file 941 if no wages have been paid?
Support:
Yes, you do. If you are a seasonal employer, however, you aren’t required to file the form with the IRS quarterly. Instead, you can use line 18 to indicate the intention to seasonally report your withholding data.
Customer:
How often should I file form 941?
Support:
Form 941 is a quarterly reporting form that covers three months per submission and is to be filed four times a year (see above for the due dates).
Customer:
What happens if you don't file 941?
Support:
Late filing penalties apply to Form 941. If you fail to submit it by the date it’s due, expect the tax amounts to be paid to grow by 5%.
Printable Blank 941 Form
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