Form 941 Due Date
As a business owner, one of your quarterly responsibilities is completing Federal Form 941. To be compliant and avoid IRS penalties, you must file Form 941 every quarter without fail.
Here, we'll go over the details of Form 941 and how to file the return with the IRS.
Table of Contents
What is Form 941?
Employers must file IRS Form 941, Employer's Quarterly Federal Tax Return, to report the federal income taxes withheld from employees, and employers' part of Social Security and Medicare (FICA) taxes.
Each quarter, the employer should file Form 941. Typically, the Form 941 deadline falls on the last day of the month following the reporting quarter.
As an employer, you are required to file Form 941 before the deadline regardless of whether you have tax amounts to report for a quarter or not, thus you must e-file Form 941 with zero tax amounts.
You are excluded from filing Form 941 if:
- You are a seasonal employer who did not pay your employees any wages or tips during the reporting quarter.
- You have closed your business and submitted your final tax return.
- You are an agriculture employer. The IRS requires you to file Form 943 each year.
When is the deadline for filing Form 941?
To avoid penalties, you must be aware of the Federal Form 941 deadline before filing. The quarterly Form 941 deadlines are listed below.
| Quarter | Reporting Period | Due Date |
|---|---|---|
| Quarter 1 | Jan, Feb, and Mar | April 30 |
| Quarter 2 | Apr, May, and Jun | July 31 |
| Quarter 3 | Jul, Aug, and Sep | October 31 |
| Quarter 4 | Oct, Nov, and Dec | January 31 |
If you have deposited the taxes timely and in full, you can file the form before the 10th of the second month of your quarter's end.
For example, you have to report the wages paid during the second quarter on or before July 31. If you make your tax deposits on time and in full, you can file Form 941 by the 10th of the second month following the quarter's end. If your deposits for the second quarter are made on schedule and in whole, you can complete Form 941 by August 10.
Form 941 Penalty
Penalties may be imposed for failure to file, failure to pay taxes owed, or late filing/payment. Penalties are calculated as a percentage of the tax payable. Some common Form 941 fines are:
| Penalty type | Rate | Applies to | Maximum |
|---|---|---|---|
| Quarter 1 (January-March) | 5% per month (up to 5 months) | Unpaid tax amount | 25% of unpaid tax |
| Failing to file (more than 60 days late) | Lesser of $435 or 100% of tax due | Total tax due | NA |
| Failing to deposit taxes on time | 2% | 1 to 5 days late | NA |
| Failing to deposit taxes on time | 5% | 6 to 15 days late | NA |
| Failing to deposit taxes on time | 10% | 16 days late or within 10 days of IRS notice | NA |
| Failing to deposit taxes on time | 15% | More than 10 days after IRS notice | NA |
How to file Form 941 for the 2023 tax year?
You can file Form 941 either by paper filing or electronic filing.
E-filing Form 941
E-filing Form 941 is quick, easy, and safe. Here are some of the advantages of e-filing:
- Automatically calculates tax dues.
- Instant confirmation that the return was accepted.
- Smooth and efficient e-filing experience.
You can e-file using an IRS-authorized e-file service provider, such as TaxZerone.
Paper Filing Form 941
If you choose the classic paper filing method, perform these steps:
- Download Form 941 from IRS.gov.
- Complete all of the needed information on the form.
- Mail the completed Form 941 to the IRS address.
How to avoid IRS Form 941 late filing penalties and interest?
To stay away from Form 941 late filing penalties and interest, do the following:
- Pay your taxes on time based on your deposit schedule.
- Complete Form 941 and file it on time.
- Report the correct tax liability.
- Attach only valid checks to pay your tax.
E-File Form 941 with TaxZerone
Employers can e-file Form 941 easily with TaxZerone by following a few simple steps. Just enter the required information, review the form, and transmit it directly to the IRS. The whole process takes only a few minutes.
Why choose TaxZerone to e-file Form 941?
Check out how TaxZerone simplifies Form 941 filing for your business.
- IRS-authorized
- Smart validations
- Instant notifications
- Lowest price
- Supports Schedule B & Form 8974
- Easy e-filing
Ready to simplify your quarterly payroll tax filing?
E-file Form 941 with the IRS using TaxZerone and stay tax compliant.
About TaxZerone®
TaxZerone® is an IRS-authorized e-file service provider that helps businesses and individuals file multiple IRS forms, such as excise, employment tax, extension, information returns, and tax-exempt forms, easily and securely.
Exempt Org. Forms
Employment Tax Forms
Excise Tax Forms
2290 Amendments
Tools
Resources
- Form 2290 Instructions
- Form 2290 Due Dates
- Taxable & Suspended Vehicles
- Form 2290 Payment options
- Form 2290 Amendments
- HVUT Form 2290 Penalties
- Form 2290 Credit Vehicles
- Form 2290 Schedule 1
- Gross Weight & Categories
- Form 7004 Instructions
- Form 7004 Due Dates
- Form 7004 Form Codes
- Form 7004 for 1042
- Form 7004 for 1065
- Form 7004 for 1120
- Form 4868 Instructions
- Form 4868 Due Dates
- Form 4868 Mailing Address
- Form 7004 Vs Form 4868
- Form 8868 Instructions
- Form 8868 Due Dates
- Form 1099 NEC Instructions
- Form 1099 MISC Instructions
- Form W-2 Instructions
- EFTPS Payment Method
- Form 941 Instructions
- Form 941 Instructions 2023
- Form 941 Due dates
- Form 941 Schedule B
- Revised Form 941 2024
- Form 990-N Instructions
- Form 990 Schedule A
- Form 990 Schedule B
- Form 990 Schedule C
- Form 990 Schedule D
- Form 990 Schedule E
- Form 990 Schedule F
- Form 990 Schedule G
- Form 990 Schedule I
- Form 990 Schedule J
- Form 990 Schedule K
- Form 990 Schedule L
- Form 990 Schedule M
- Form 990 Schedule N
- Form 990 Schedule O
- Form 990 Schedule R
Terms of Use | Privacy Policy | Cookie Policy