Get the free Form 941-SS

Instructions for Form 941-SS provided by the Department of the Treasury, Internal Revenue Service. This document includes guidance on the filing process for employer's quarterly federal tax returns,

How to fill out form 941-ss

How to fill out Form 941-SS

1. Gather necessary information such as your business name, address, and Employer Identification Number (EIN).
2. Enter the number of employees who received wages during the quarter.
3. Report total wages paid for the quarter in Part 1.
4. Calculate and enter the total taxes withheld from employees' wages.
5. Fill out the section for tax adjustments, if applicable.
6. Complete Part 2 by calculating and entering your total tax liability for the quarter.
7. If applicable, claim any credits in Part 3.
8. Sign and date the form at the bottom.

Who needs Form 941-SS?

1. Employers who pay wages subject to Social Security and Medicare taxes and who file Form 941.
2. Employers in the U.S. territories, such as Puerto Rico and American Samoa.

People Also Ask about

What is IRS form 941 used for?

Generally, you must file Form 941, Employer's Quarterly Federal Tax Return or Form 944, Employer's Annual Federal Tax Return to report wages you've paid and tips your employees have reported to you, as well as employment taxes (federal income tax withheld, Social Security and Medicare taxes withheld, and your share of

Who do you pay 941 taxes to?

Generally, employers must report wages, tips and other compensation paid to an employee by filing the required form(s) to the IRS. You must also report taxes you deposit by filing Forms 941, 943, 944, 945, and 940 on paper or through e-file.

What is form 941 SS?

Use Form 941-SS to report Social Security and Medicare taxes for workers in American Samoa, Guam, the Commonwealth of the Northern Mariana Islands, and the U.S. Islands.

What are taxable Social Security wages on form 941?

The social security tax rate is 6.2% each for the employee and employer. The social security wage base limit is $176,100. The Medicare tax rate is 1.45% each for the employee and employer, unchanged from 2024. There is no wage base limit for Medicare tax.

How often must employers who pay Social Security and Medicare taxes file form 941?

In general, employers who withhold federal income tax, Social Security or Medicare taxes must file Form 941, Employer's Quarterly Federal Tax Return, each quarter.

What is the difference between form 941 and 1040?

So, Form 1040-ES needs to be filed when you do not have an employer withholding these taxes from you. In contrast, Form 941 is the form that shows the IRS how much tax you, as an employer, withheld from each employee's paycheck.

What happens if I don't file form 941?

Late Filing Deposits made between six and 15 days late have a five percent penalty and a ten percent penalty for deposits more than 16 days late, plus interest. If you file Form 941 late, the IRS imposes a penalty of five percent per month or partial month you are late, up to a maximum of 25 percent.

Who needs to fill out form 941?

Who Must File Form 941? If you pay wages subject to federal income tax withholding or social security and Medicare taxes, you must file Form 941 quarterly to report the following amounts. security and Medicare taxes. Medicare taxes for fractions of cents, sick pay, tips, and group-term life insurance.

For pdfFiller’s FAQs

What is Form 941-SS?

Form 941-SS is an Employer's QUARTERLY Federal Tax Return for specific U.S. territories including American Samoa, Guam, the Commonwealth of the Northern Mariana Islands, and the U.S. Virgin Islands.

Who is required to file Form 941-SS?

Employers in the U.S. territories mentioned above who withhold Federal income tax, Social Security, or Medicare taxes from their employees are required to file Form 941-SS.

How to fill out Form 941-SS?

To fill out Form 941-SS, employers should provide their legal business name, address, and Employer Identification Number (EIN), report the number of employees, wages, and taxes withheld for the quarter, and calculate the total tax liability.

What is the purpose of Form 941-SS?

The purpose of Form 941-SS is to report employment taxes withheld from employees and to report the employer's share of Social Security and Medicare taxes to the IRS on a quarterly basis.

What information must be reported on Form 941-SS?

Form 941-SS requires reporting the number of employees, total wages paid, taxes withheld for federal income, Social Security and Medicare taxes, and any adjustments to taxes previously reported.