Get the free Form 941-SS

Instructions for Form 941-SS to report social security and Medicare taxes for workers in specific U.S. territories. The form provides guidelines on who must file, payment deadlines, and procedures

How to fill out form 941-ss

How to fill out Form 941-SS

1. Gather your business information, including your Employer Identification Number (EIN) and the period for which you are filing.
2. Download Form 941-SS from the IRS website or obtain a paper copy.
3. Complete the top section with your business name, EIN, and address.
4. Fill out Part 1 by reporting the number of employees who worked during the pay period and the total wages paid.
5. Calculate the total taxes due in Part 2 of the form, including Social Security tax and Medicare tax.
6. Complete Part 3 to report any adjustments for tips, sick pay, or employee benefits.
7. If applicable, complete Part 4 to report any nonrefundable credits.
8. Sign and date the form in Part 5 and provide your title.
9. Mail the completed Form 941-SS to the appropriate address indicated in the form instructions.

Who needs Form 941-SS?

1. Form 941-SS is needed by employers in U.S. territories (such as Puerto Rico, Guam, American Samoa, and the U.S. Virgin Islands) who report income, Social Security, and Medicare taxes for their employees.

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 a tax form used by employers in the United States to report income taxes, Social Security tax, and Medicare tax withheld from employee wages, specifically for businesses in American Samoa, Guam, the Northern Mariana Islands, and the U.S. Virgin Islands.

Who is required to file Form 941-SS?

Employers in American Samoa, Guam, the Northern Mariana Islands, and the U.S. Virgin Islands with employees who earn wages and are subject to U.S. payroll taxes are required to file Form 941-SS.

How to fill out Form 941-SS?

To fill out Form 941-SS, employers must gather payroll information, enter total wages paid, calculate and report taxes withheld for Social Security and Medicare, and include any adjustments for overreported amounts. The form must be signed and submitted to the IRS.

What is the purpose of Form 941-SS?

The purpose of Form 941-SS is to provide the IRS with information on payroll taxes withheld from employees, ensuring compliance with federal tax laws and helping to determine employers' liability for Social Security and Medicare taxes.

What information must be reported on Form 941-SS?

Form 941-SS requires reporting of total wages paid, the number of employees, taxes withheld for federal income tax, Social Security tax, and Medicare tax, along with any adjustments and the total tax liability for the quarter.