Get the free 941-SS

This form is used by employers to report their quarterly federal tax liabilities, including social security and Medicare taxes, and to make payments accordingly. It is specific for employers in American

How to fill out 941-ss

How to fill out 941-SS

1. Obtain the Form 941-SS from the IRS website or by contacting the IRS.
2. Fill in your employer identification number (EIN) at the top of the form.
3. Provide your business name and address in the designated fields.
4. Indicate the number of employees you had during the quarter and the date the business started.
5. Complete the section for total wages paid, tips, and other compensation.
6. Calculate and report the total taxes withheld from employees' paychecks.
7. Fill in the section for any adjustments to employment tax reported.
8. Review the form for accuracy, and then sign and date it.
9. Mail the completed form to the appropriate address listed in the form instructions.
10. Make sure to keep a copy of the form for your records.

Who needs 941-SS?

1. Employers in the U.S. Virgin Islands, Guam, American Samoa, and the Northern Mariana Islands.
2. Any business that pays wages subject to federal income tax withholding and Social Security and Medicare taxes.
3. Entities that are not required to file the regular Form 941 but still need to report taxes.

People Also Ask about

How do you calculate Social Security for payroll?

You always calculate the tax the same way. Say you pay an employee $1,000 in gross wages. Multiply the $1,000 by 6.2% to determine how much to withhold from the employee's wages. Because you contribute the same amount, use the calculated amount to determine how much you contribute.

What is form 941 SS used for?

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.

How to calculate taxable Social Security wages on 941?

Form 941 Lines 5a-5d On lines 5a and 5b, you must multiply taxable Social Security wages (5a) and taxable Social Security tips (5b) by 0.124. The decimal represents the rate of Social Security tax on taxable wages. Both you and your employee must contribute 6.2% each paycheck for Social Security.

How to calculate taxable amount of Social Security payments?

Social Security benefit taxes are based on what the Social Security Administration (SSA) refers to as your “combined” income. That consists of your adjusted gross income, plus any nontaxable interest you earned (and certain other items) and half of your Social Security income.

How to calculate Social Security wages on 941?

Form 941 Lines 5a-5d On lines 5a and 5b, you must multiply taxable Social Security wages (5a) and taxable Social Security tips (5b) by 0.124. The decimal represents the rate of Social Security tax on taxable wages. Both you and your employee must contribute 6.2% each paycheck for Social Security.

What is a SSA 1099 in English?

The Social Security Benefit Statement is also known as the SSA-1099 or the SSA-1042S. It is a tax form we mail to you every January if you receive Social Security benefits.

How to amend a 941 for ERC?

Sometimes you may make a mistake on your initial Form 941 that you need to correct. You'll then use Form 941-X to amend the original filing. This amendment form can also be used to claim credits retroactively if you are eligible but failed to claim it for the applicable quarter.

For pdfFiller’s FAQs

What is 941-SS?

Form 941-SS is a quarterly tax form used by employers in the United States to report income taxes, Social Security tax, and Medicare tax withheld from employees' wages, specifically for those who are self-employed or businesses that are not subject to the full IRS regulations.

Who is required to file 941-SS?

Employers, including those who pay wages to farm workers or household employees, who are subject to Social Security and Medicare taxes and who operate in U.S. territories such as Puerto Rico, are required to file Form 941-SS.

How to fill out 941-SS?

To fill out Form 941-SS, employers must gather payroll information, including total earnings, taxes withheld, and the number of employees. Complete the form section by section, providing required financial details and calculations, and submit it to the IRS by the designated deadline.

What is the purpose of 941-SS?

The purpose of Form 941-SS is to ensure that employers report and pay the correct amount of federal employment taxes, thereby helping to maintain proper records of tax liabilities and contributions to Social Security and Medicare for their employees.

What information must be reported on 941-SS?

Form 941-SS requires reporting of gross wages paid, taxes withheld (including income tax, Social Security, and Medicare), adjustments for tips, and the total tax liability for the quarter, as well as information about the employer and employee counts.