Cat. No. 17001Z Form 941 Rev. 1-2012 Part 2 Tell us about your deposit schedule and tax liability for this quarter. 941 for 2012 Form Rev. January 2012 950112 Employer s QUARTERLY Federal Tax Return OMB No. 1545-0029 Department of the Treasury Internal Revenue Service Employer identification number Report for this Quarter of 2012 EIN Check one. Name not your trade name 1 January February March 2 April May June Trade name if any 3 July August September Address Number Street 4 October November...December Suite or room number City State Prior-year forms are available at www.irs.gov/form941. Name not your trade name 1 January February March 2 April May June Trade name if any 3 July August September Address Number Street 4 October November December Suite or room number City State Prior-year forms are available at www*irs*gov/form941. ZIP code Read the separate instructions before you complete Form 941. Type or print within the boxes. Part 1 Answer these questions for this quarter. Number...of employees who received wages tips or other compensation for the pay period including Mar* 12 Quarter 1 June 12 Quarter 2 Sept. 12 Quarter 3 or Dec* 12 Quarter 4 Wages tips and other compensation Income tax withheld from wages tips and other compensation If no wages tips and other compensation are subject to social security or Medicare tax. Column 1 5a Taxable social security wages. 5b 5c Taxable Medicare wages tips. 5d Add Column 2 line 5a Column 2 line 5b and Column 2 line 5c 5e Section 3121...q Notice and Demand Tax due on unreported tips see instructions Total taxes before adjustments add lines 3 5d and 5e. Current quarter s adjustment for fractions of cents. Check and go to line 6. Total taxes after adjustments. Combine lines 6 through 9 Total deposits for this quarter including overpayment applied from a prior quarter and overpayment applied from Form 941-X or Form 944-X. 12a COBRA premium assistance payments see instructions 12b Number of individuals provided COBRA premium...assistance. Add lines 11 and 12a. Balance due. If line 10 is more than line 13 enter the difference and see instructions Overpayment. If line 13 is more than line 10 enter the difference Apply to next return* Next You MUST complete both pages of Form 941 and SIGN it. For Privacy Act and Paperwork Reduction Act Notice see the back of the Payment Voucher. Send a refund. If you are unsure about whether you are a monthly schedule depositor or a semiweekly schedule depositor see Pub. 15 Circular E...section 11. Line 10 on this return is less than 2 500 or line 10 on the return for the prior quarter was less than 2 500 and you did not incur a 100 000 next-day deposit obligation during the current quarter. If line 10 for the prior quarter was less than 2 500 but line 10 on this return is 100 000 or more you must provide a record of your federal tax liability. If you are a monthly schedule depositor complete the deposit schedule below if you are a semiweekly schedule depositor attach Schedule...B Form 941.
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Instructions and Help about IRS 941
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How to fill out IRS 941
Instructions and Help about IRS 941
How to edit IRS 941
To edit the IRS 941, you can utilize pdfFiller, which allows for straightforward editing of the document. First, upload your completed form to the pdfFiller interface. Then, use the available tools to modify any erroneous information, ensuring that you correct any inaccuracies before submission. After editing, you can save the changes or proceed to integrate electronic signatures if needed.
How to fill out IRS 941
Filling out IRS 941 requires attention to detail. Follow these steps:
01
Gather your total payments, including Medicare wages, Social Security wages, and any withheld taxes.
02
Provide employer information in the designated sections, including your Employer Identification Number (EIN).
03
Report the number of employees and the tax amounts withheld for each quarter accurately.
04
Review the completed form for accuracy and ensure all required signatures are present before submission.
About IRS 941 previous version
What is IRS 941?
What is the purpose of this form?
Who needs the form?
When am I exempt from filling out this form?
Components of the form
Due date
What are the penalties for not issuing the form?
What information do you need when you file the form?
Is the form accompanied by other forms?
Where do I send the form?
About IRS 941 previous version
What is IRS 941?
The IRS 941, officially known as the "Employer's Quarterly Federal Tax Return," is a form used by employers to report income taxes, Social Security tax, and Medicare tax withheld from employees’ paychecks. This form is essential for payroll tax compliance and is filed quarterly.
What is the purpose of this form?
The purpose of IRS 941 is to report the employer's payroll tax obligations. This includes the amounts withheld from employee wages for federal income tax, Social Security tax, and Medicare tax. Employers must submit this form to inform the IRS of the taxes they owe based on their employees' earnings.
Who needs the form?
Any employer who pays wages subject to federal income tax withholding and has employees working in the United States must file IRS 941. This includes businesses of all sizes, non-profit organizations, and government entities that process payroll.
When am I exempt from filling out this form?
Exemptions from filing IRS 941 include situations where the employer has no employees, adopts an alternative reporting method such as the annual form 944, or in cases where tax-exempt organizations do not owe any Federal employment taxes. Employers must understand their obligations and confirm whether they meet the criteria for exemption.
Components of the form
The IRS 941 consists of multiple sections, including employer information, employee wages and tax withholdings, and tax liability calculations. Each box within these sections must be filled out correctly to reflect the quarter being reported accurately.
Due date
The due date for filing IRS 941 is the last day of the month following the end of each quarter. This means that for the first quarter (January through March), the form is due by April 30; for the second quarter (April through June), it is due by July 31; for the third quarter (July through September), it is due by October 31; and for the fourth quarter (October through December), it is due by January 31 of the following year.
What are the penalties for not issuing the form?
Penalties for failing to file IRS 941 on time can vary based on the duration of delay. The IRS commonly charges a penalty of 5% of the unpaid taxes for each month the return is late, up to 25% of the total unpaid tax. Employers should be cautious of these penalties and prioritize timely filing to ensure compliance.
What information do you need when you file the form?
When filing IRS 941, you need the following information: your Employer Identification Number (EIN), the total number of employees, total wages paid, and the amounts withheld for federal income tax, Social Security tax, and Medicare tax. Accurate financial records and payroll information are crucial for completing this form correctly.
Is the form accompanied by other forms?
IRS 941 typically does not require accompanying forms; however, if you are adjusting previous filings, you may need to submit IRS 941-X, which is the "Adjusted Employer's QUARTERLY Federal Tax Return or Claim for Refund." Always verify if additional documentation is necessary for your specific tax situation.
Where do I send the form?
The submission address for IRS 941 depends on whether you are enclosing a payment or filing without payment. If you are sending payment, send it to the appropriate address listed in the IRS 941 instructions based on your location. If filing without a payment, use the address designated for your state. Ensure to consult the official IRS website for accurate mailing instructions.
FAQ about IRS 941
What should I do if I made a mistake on my IRS 941 after filing?
If you discover an error on your filed IRS 941, you should file an amended return using Form 941-X. This form allows you to correct mistakes related to wages, tax computations, and more. Remember to clearly explain the changes on the 941-X and retain documentation supporting these modifications.
How can I track the status of my IRS 941 submission?
To verify the receipt and processing of your IRS 941, you can contact the IRS directly or check their online resources. In cases of e-filing, be aware of common rejection codes that may occur, and ensure you address any issues promptly to avoid delays in processing.
What if I'm filing an IRS 941 on behalf of someone else?
When filing the IRS 941 for another individual or business, ensure that you have the appropriate Power of Attorney (POA) documentation. Additionally, be aware of the differing requirements that may apply to nonresidents or special payee situations, as these can affect the filing process.
How long do I need to keep records related to my IRS 941 filings?
The IRS recommends retaining records related to your IRS 941 submissions for at least four years. This is to ensure compliance and assist in case of an audit or any inquiries regarding your tax filings. Securely store these documents to protect sensitive information.
What are some common errors to avoid when filing IRS 941?
Common errors often include incorrect employee information, miscalculations of taxes due, and failure to sign the form if required. To prevent these mistakes, double-check all data before submission and consider using reliable tax software that can guide you through the filing process.
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