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Form 941 - Employer's Quarterly Federal Tax Form

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Form 941- Employer's Quarterly Federal Tax Form is the form used by employers to report employment taxes , withholding amounts, deposit amounts, and amounts due to the IRS. Form 941

Form 941 changes for 2013 Form 941 for 2013 payroll taxes will be changing to reflect the additional Medicare tax for high-income individuals. The IRS has issued a draft of Form 941 for 2013, which should not be filed January 31, 2013. U.S. Business Law & Taxes website.

Due Dates
Form 941 is due on a quarterly basis, at the end of the month following the end of the quarter, on the following schedule:

  • For example, for the first quarter of 2013, ending March 31, submit by April 30
  • For the second quarter, ending June 30, submit by July 31
  • For the third quarter, ending September 30, submit by October 31
  • For the fourth quarter, ending December 31, submit by January 31, 2013.

How to Submit Form 941 may be submitted electronically using Federal E-file. You can E-file Form 941 and pay any balance due electronically by using tax preparation software or a tax professional.

How to complete Form 941
Form 941 calculations include totals for:

  • Number of employees and total pay for the period being reported
  • Amounts withheld from pay of employees for the period
  • Taxable Social Security and Medicare wages for the period
  • Calculation of total Social Security and Medicare wages
  • Adjustments for sick pay, tips, group-term life insurance, and other
The form requires a calculation of the total taxes and the total deposits made during the period. The difference between the total taxes due and the total deposits is the amount still owed that must be paid.

Read more about the specific steps required to complete Form 941.

You can find more about Form 941, including information about how to prepare this return, when it must be submitted, and how to submit corrections: More Information on Form 941.

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