What is Form 941?
Form 941, Employer's Quarterly Federal Tax Return, is a tax form used by employers to report income taxes, social security tax, or Medicare tax withheld from employee's paychecks. It also includes the employer's portion of social security and Medicare tax
Why File Form 941?
Filing Form 941 is crucial for maintaining compliance with federal tax laws. By filing this form, employers report the following:
- Wages paid to employees
- Tips received by employees
- Federal income tax withheld from employees' wages
- Both the employer’s and the employee’s share of Social Security and Medicare taxes
- Additional Medicare Tax withheld from employees
Failure to file Form 941 accurately and on time can result in penalties and interest, making it essential to stay compliant and avoid unnecessary costs.
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How to File Form 941 with TaxZerone?
Filing Form 941 with TaxZerone is a straightforward process designed to save you time and ensure accuracy. Follow these simple steps:
Enter Your Tax Information:
- Fill out the employer and employment information, including the number of employees and their wages.
- Provide details about tax liability, including federal income taxes, Social Security, and Medicare taxes
- Report total deposits and payments made during the quarter
Pay the Balance Due and Sign the Form:
- Choose the payment method for paying the balance due
- E-sign the return
- Review the form information to ensure it’s accurate
Transmit the Return to the IRS:
- Securely transmit your 941 form to the IRS
- Get notified as soon as your return is accepted
Who is TaxZerone?
TaxZerone is an IRS-authorized e-file service provider that assists businesses and individuals in easily and securely filing multiple IRS forms, including excise, employment tax, extension, information returns, and tax-exempt forms. Our trusted partner, TaxZerone ensures a seamless filing experience
Easy e-Filing
Submit your forms to the IRS effortlessly with a streamlined online process. Follow simple guide to securely e-file and quickly settle any outstanding balances in just a few clicks
Authorized by IRS
TaxZerone is authorized by the IRS to offer secure e-filing services. You can trust to handle your tax returns seamlessly and securely through TaxZerOne online platform
Real-time return updates
Get instant updates on your tax return's acceptance by the IRS and easily track its status using your TaxZerone account
Why Choose TaxZerone to E-File Form 941?
Check Out How TaxZerone Simplifies Form 941 Filing for Your Business:
IRS-Authorized
Securely file your Form 941 knowing it's compliant with IRS regulations.
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Deadline to file Form 941 for 2024 Tax Year
Form 941, Employer's Quarterly Federal Tax Return, must be filed by the following deadlines:
- Quarter 1 (January - March): April 30, 2024
- Quarter 2 (April - June): July 31, 2024
- Quarter 3 (July - September): October 31, 2024
- Quarter 4 (October - December): January 31, 2025
These deadlines are on the last day of the month following the end of each quarter. It's crucial to file on time to avoid penalties and remain compliant with IRS regulations.
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Ready to simplify your quarterly payroll tax filing?
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E-File Form 941 Now!Frequently asked questions
1.Who needs to file Form 941?
2. What are the filing deadlines for Form 941?
3. What information do I need to file Form 941?
4. What are the changes to Form 941 for the 2024 Tax Year?
- Social Security Wage Base Limit Increase: The Social Security wage base limit rises to $168,600 from $160,200.
- Additional Tax Obligations: Household workers earning $2,700 or more and election workers earning $2,300 or more are required to pay Social Security and Medicare taxes in 2024.
- COVID-19 Credit Discontinuation: The Form 941 COVID-19 credit for qualifying sick and family leave wages can no longer be claimed starting in 2024.
- Forms 941-SS and 941-PR Discontinued: After 2023, Forms 941-SS and 941-PR are discontinued. U.S. territory employers will now file either Form 941 or the new Form 941 (sp), available in Spanish.
- Line Changes on Form 941 Lines 11a–11g, 13a–13i, and 19–28 have been removed from Form 941 for the 2024 Tax Year.
- For more detailed information, please refer to the revised IRS Form 941 for 2024.