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Free IRS 941 Template

The IRS Form 941 is a quarterly tax return used by employers to report income taxes, Social Security tax, and Medicare tax withheld from employee wages. This form is essential for ensuring compliance with federal tax regulations and provides the IRS with information about the employer's payroll tax obligations. Understanding the details and requirements of Form 941 is crucial for accurate reporting and timely submissions.

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The IRS Form 941 is an essential document for employers in the United States, serving as a quarterly tax return that reports income taxes, Social Security tax, and Medicare tax withheld from employee paychecks. This form provides a detailed account of the wages paid to employees and the taxes owed to the federal government, helping to ensure compliance with tax obligations. Employers must file Form 941 four times a year, making it crucial to keep accurate records of payroll and tax withholdings. Additionally, the form includes sections for reporting any adjustments to prior quarters, as well as credits for qualified sick and family leave wages under specific provisions. Understanding the nuances of Form 941 is vital for businesses to avoid penalties and maintain smooth operations. Completing this form accurately not only fulfills legal requirements but also supports the financial health of the organization.

Key takeaways

Purpose: The IRS 941 form is used to report income taxes, Social Security tax, and Medicare tax withheld from employee paychecks.
Filing Frequency: Employers must file Form 941 quarterly, with deadlines falling on the last day of the month following the end of each quarter.
Eligibility: Any employer who pays wages to employees must file this form, regardless of the number of employees.
Accurate Reporting: It is crucial to report the correct amounts for wages, tips, and other compensation to avoid penalties.
Adjustments: If there are any errors in previous filings, adjustments can be made on the current form to correct them.
Electronic Filing: Employers can file Form 941 electronically, which may speed up processing times and reduce errors.
Signature Requirement: The form must be signed by an authorized person, affirming the accuracy of the information provided.
Record Keeping: Employers should maintain records of all payroll and tax-related documents for at least four years to support the information reported on Form 941.

Dos and Don'ts

When filling out the IRS 941 form, it's important to follow specific guidelines to ensure accuracy and compliance. Here are some dos and don'ts to keep in mind:

Do double-check all employee information for accuracy.
Do report all wages and tips accurately.
Don't leave any required fields blank.
Don't forget to sign and date the form before submission.

Documents used along the form

The IRS 941 form, officially known as the Employer's Quarterly Federal Tax Return, is a crucial document for employers in the United States. It reports income taxes, Social Security tax, and Medicare tax withheld from employee paychecks. However, several other forms and documents are often used in conjunction with the 941 form to ensure compliance with federal tax obligations. Below is a list of these related forms and documents, each serving a specific purpose in the payroll and tax reporting process.

IRS Form 940: This form is used to report and pay federal unemployment taxes (FUTA). Employers must file it annually, detailing the amount owed for unemployment insurance.
Texas VTR-60: The Application for Replacement License Plate(s) and/or Registration Sticker can be completed online to replace lost or damaged plates; you can find it at https://texasformspdf.com/fillable-texas-vtr-60-online/.
IRS Form W-2: Employers issue this form to report annual wages and the amount of taxes withheld from employee paychecks. Each employee receives a W-2 by January 31 of the following year.
IRS Form W-3: This is a summary form that accompanies the W-2 forms when submitted to the Social Security Administration. It provides a total of all wages and taxes withheld for the year.
IRS Form 1099: Used to report various types of income other than wages, salaries, and tips. Independent contractors and freelancers typically receive this form if they earn $600 or more in a year.
IRS Form 941-X: This form is the adjusted version of the 941 form. Employers use it to correct errors made on a previously filed 941 form, ensuring accurate reporting of taxes.
IRS Form 8822: This form is used to notify the IRS of a change of address. Employers must keep their contact information current to receive important tax-related correspondence.
State Payroll Tax Forms: Many states require specific forms for reporting state income tax withheld from employee wages. These forms vary by state and are essential for local tax compliance.
IRS Form 1040: While primarily used by individuals for personal income tax returns, employers may need to reference this form when preparing employee tax information or advising employees on their tax obligations.

Understanding these forms and documents is vital for employers to maintain compliance with tax regulations and avoid penalties. Each form plays a significant role in the overall payroll and tax reporting process, contributing to a smooth and efficient operation for businesses of all sizes.

⇓ PDF Form

Things to Know About This Form

What is the IRS Form 941?

The IRS Form 941, officially known as the Employer's Quarterly Federal Tax Return, is a document that employers in the United States use to report income taxes, Social Security tax, and Medicare tax withheld from employee paychecks. This form is filed quarterly and is essential for ensuring that federal tax obligations are met. Employers must report the total wages paid, tips received, and other compensation, along with the amount of taxes withheld from employees. Additionally, Form 941 helps the IRS track your business's tax obligations and payments throughout the year.

Who needs to file Form 941?

Any business that has employees and pays wages subject to federal income tax withholding, Social Security, or Medicare taxes must file Form 941. This includes:

Corporations
Partnerships
Sole proprietorships with employees
Non-profit organizations

If your business has no employees for a quarter, you do not need to file Form 941 for that period. However, if you had employees at any time during the quarter, you are required to file.

When is Form 941 due?

Form 941 is due four times a year, with specific deadlines for each quarter. The due dates are as follows:

For the first quarter (January to March), the due date is April 30.
For the second quarter (April to June), the due date is July 31.
For the third quarter (July to September), the due date is October 31.
For the fourth quarter (October to December), the due date is January 31 of the following year.

It is important to file on time to avoid penalties and interest on any unpaid taxes. If you are unable to file by the deadline, consider filing for an extension.

What happens if I make a mistake on Form 941?

Mistakes can happen, and if you realize that you made an error on your Form 941 after filing, it is crucial to correct it promptly. You can do this by filing Form 941-X, which is the Adjusted Employer's QUARTERLY Federal Tax Return or Claim for Refund. This form allows you to make corrections to the original Form 941. Be sure to follow the instructions carefully to ensure that the corrections are processed correctly. If you owe additional taxes due to the error, pay them as soon as possible to minimize any penalties or interest.

Preview - IRS 941 Form

Form 941 for 2023:	Employer’s QUARTERLY Federal Tax Return	950122
		950122
(Rev. March 2023)	Department of the Treasury — Internal Revenue Service	OMB No. 1545-0029

Employer identification number (EIN)

—

Name (not your trade name)

Trade name (if any)

Address

Number	Street			Suite or room number


City			State		ZIP code


Foreign country name		Foreign province/county			Foreign postal code

Report for this Quarter of 2023

(Check one.)

1: January, February, March

2: April, May, June

3: July, August, September

4: October, November, December

Go to www.irs.gov/Form941 for instructions and the latest information.

Read the separate instructions before you complete Form 941. Type or print within the boxes.

Part 1: Answer these questions for this quarter.

1	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) 1


2	Wages, tips, and other compensation						.	2
3	Federal income tax withheld from wages, tips, and other compensation						.	3
4	If no wages, tips, and other compensation are subject to social security or Medicare tax
				Column 1		Column 2.
5a	Taxable social security wages* . .			.	× 0.124 =	Column 2.
							.
5a	(i)	Qualified sick leave wages* .		.	× 0.062 =		.
							.
5a	(ii)	Qualified family leave wages* .		.	× 0.062 =		.
							.
5b	Taxable social security tips . . .			.	× 0.124 =		.
							.
5c	Taxable Medicare wages & tips. .			.	× 0.029 =		.
5d	Taxable wages & tips subject to
5d	Taxable wages & tips subject to			.	× 0.009 =		.
	Additional Medicare Tax withholding			.	× 0.009 =		.
5e	Total social security and Medicare taxes. Add Column 2 from lines 5a, 5a(i), 5a(ii), 5b, 5c, and 5d							5e
5f	Section 3121(q) Notice and Demand—Tax due on unreported tips (see instructions) .						.	5f
6	Total taxes before adjustments. Add lines 3, 5e, and 5f						.	6
7	Current quarter’s adjustment for fractions of cents						.	7
8	Current quarter’s adjustment for sick pay						.	8
9	Current quarter’s adjustments for tips and group-term life insurance						.	9
10	Total taxes after adjustments. Combine lines 6 through 9						.	10
11a	Qualified small business payroll tax credit for increasing research activities. Attach Form 8974							11a
11b	Nonrefundable portion of credit for qualified sick and family leave wages for leave taken
	before April 1, 2021		. . . . . . . . . . . . . . . . . . . . . .				.	11b

Check and go to line 6.

*Include taxable qualified sick and family leave wages paid in this quarter of 2023 for leave taken after March 31, 2021, and before October 1, 2021, on line 5a. Use lines 5a(i) and 5a(ii) only for taxable qualified sick and family leave wages paid in this quarter of 2023 for leave taken after March 31, 2020, and before April 1, 2021.

11c Reserved for future use . . . . . . . . . . . . . . . . . . . . . . 11c

You MUST complete all three pages of Form 941 and SIGN it.

For Privacy Act and Paperwork Reduction Act Notice, see the back of the Payment Voucher.

Cat. No. 17001Z

Form 941 (Rev. 3-2023)

951222

Name (not your trade name)		Employer identification number (EIN)
		–
Part 1:	Answer these questions for this quarter. (continued)

11d Nonrefundable portion of credit for qualified sick and family leave wages for leave taken after March 31, 2021, and before October 1, 2021 . . . . . . . . . . . . . 11d


11e	Reserved for future use	. . . . . . . . . 11e	.
11f	Reserved for future use
11f	Reserved for future use

11g	Total nonrefundable credits. Add lines 11a, 11b, and 11d	11g
12	Total taxes after adjustments and nonrefundable credits. Subtract line 11g from line 10 .	12

13a	Total deposits for this quarter, including overpayment applied from a prior quarter and
	overpayments applied from Form 941-X, 941-X (PR), 944-X, or 944-X (SP) filed in the current quarter	13a
13b	Reserved for future use	13b

13c Refundable portion of credit for qualified sick and family leave wages for leave taken
before April 1, 2021	13c
13d Reserved for future use	13d

13e Refundable portion of credit for qualified sick and family leave wages for leave taken after March 31, 2021, and before October 1, 2021 . . . . . . . . . . . . . . 13e

13f	Reserved for future use	13f
13g	Total deposits and refundable credits. Add lines 13a, 13c, and 13e	13g
13h	Reserved for future use	13h
13i	Reserved for future use	13i

14Balance due. If line 12 is more than line 13g, enter the difference and see instructions . . . 14


15	Overpayment. If line 13g is more than line 12, enter the difference	.	Check one:

Apply to next return.

Send a refund.

Part 2: Tell us about your deposit schedule and tax liability for this quarter.

If you’re unsure about whether you’re a monthly schedule depositor or a semiweekly schedule depositor, see section 11 of Pub. 15.

16 Check one:

Line 12 on this return is less than $2,500 or line 12 on the return for the prior quarter was less than $2,500, and you didn’t incur a $100,000 next-day deposit obligation during the current quarter. If line 12 for the prior quarter was less than $2,500 but line 12 on this return is $100,000 or more, you must provide a record of your federal tax liability. If you’re a monthly schedule depositor, complete the deposit schedule below; if you’re a semiweekly schedule depositor, attach Schedule B (Form 941). Go to Part 3.

You were a monthly schedule depositor for the entire quarter. Enter your tax liability for each month and total

liability for the quarter, then go to Part 3.


Tax liability: Month 1	.

Month 2	.

Month 3	.

Total liability for quarter	.	Total must equal line 12.

You were a semiweekly schedule depositor for any part of this quarter. Complete Schedule B (Form 941),

Report of Tax Liability for Semiweekly Schedule Depositors, and attach it to Form 941. Go to Part 3.

You MUST complete all three pages of Form 941 and SIGN it.

Page 2

Form 941 (Rev. 3-2023)

950922

Name (not your trade name)

Employer identification number (EIN)

–

Part 3: Tell us about your business. If a question does NOT apply to your business, leave it blank.

17 If your business has closed or you stopped paying wages . . . . . . . . . . . . . . .

Check here, and

enter the final date you paid wages

/ /

; also attach a statement to your return. See instructions.

18 If you’re a seasonal employer and you don’t have to file a return for every quarter of the year . . .

Check here.

19Qualified health plan expenses allocable to qualified sick leave wages for leave taken before April 1, 2021

20Qualified health plan expenses allocable to qualified family leave wages for leave taken before April 1, 2021

21	Reserved for future use
22	Reserved for future use

23Qualified sick leave wages for leave taken after March 31, 2021, and before October 1, 2021

24Qualified health plan expenses allocable to qualified sick leave wages reported on line 23

25Amounts under certain collectively bargained agreements allocable to qualified sick

leave wages reported on line 23 . . . . . . . . . . . . . . . . . . .

26Qualified family leave wages for leave taken after March 31, 2021, and before October 1, 2021

27Qualified health plan expenses allocable to qualified family leave wages reported on line 26

28Amounts under certain collectively bargained agreements allocable to qualified family leave wages reported on line 26 . . . . . . . . . . . . . . . . . . .


19	.

20	.

21	.

22	.

23	.

24	.

25	.

26	.

27	.

28	.

Part 4: May we speak with your third-party designee?

Do you want to allow an employee, a paid tax preparer, or another person to discuss this return with the IRS? See the instructions

for details.

Yes. Designee’s name and phone number

Select a 5-digit personal identification number (PIN) to use when talking to the IRS.

No.

Part 5: Sign here. You MUST complete all three pages of Form 941 and SIGN it.

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.

Sign your name here

Date

/ /

Print your name here

Print your title here

Best daytime phone

Paid Preparer Use Only

Preparer’s name

Preparer’s signature

Firm’s name (or yours if self-employed)

Address

City

State

Check if you’re self-employed . . .

PTIN

Date	/	/
EIN
EIN
Phone
Phone

ZIP code

Page 3

Form 941 (Rev. 3-2023)

951020

This page intentionally left blank

Form 941-V, Payment Voucher

Purpose of Form

Complete Form 941-V if you’re making a payment with Form 941. We will use the completed voucher to credit your payment more promptly and accurately, and to improve our service to you.

Making Payments With Form 941

To avoid a penalty, make your payment with Form 941 only if:

•Your total taxes after adjustments and nonrefundable credits (Form 941, line 12) for either the current quarter or the preceding quarter are less than $2,500, you didn’t incur a $100,000 next-day deposit obligation during the current quarter, and you’re paying in full with a timely filed return; or

•You’re a monthly schedule depositor making a payment in accordance with the Accuracy of Deposits Rule. See section 11 of Pub. 15 for details. In this case, the amount of your payment may be $2,500 or more.

Otherwise, you must make deposits by electronic funds transfer. See section 11 of Pub. 15 for deposit instructions. Don’t use Form 941-V to make federal tax deposits.

▲! Use Form 941-V when making any payment with Form 941. However, if you pay an amount with

CAUTION Form 941 that should’ve been deposited, you may be subject to a penalty. See Deposit Penalties in section 11 of Pub. 15.

Specific Instructions

Box 1—Employer identification number (EIN). If you don’t have an EIN, you may apply for one online by visiting the IRS website at www.irs.gov/EIN. You may also apply for an EIN by faxing or mailing Form SS-4 to the IRS. If you haven’t received your EIN by the due date of Form 941, write “Applied For” and the date you applied in this entry space.

Box 2—Amount paid. Enter the amount paid with Form 941.

Box 3—Tax period. Darken the circle identifying the quarter for which the payment is made. Darken only one circle.

Box 4—Name and address. Enter your name and address as shown on Form 941.

•Enclose your check or money order made payable to “United States Treasury.” Be sure to enter your

EIN, “Form 941,” and the tax period (“1st Quarter 2023,” “2nd Quarter 2023,” “3rd Quarter 2023,” or “4th Quarter 2023”) on your check or money order. Don’t send cash.

Don’t staple Form 941-V or your payment to Form 941 (or to each other).

•Detach Form 941-V and send it with your payment

and Form 941 to the address in the Instructions for Form 941.

Note: You must also complete the entity information above Part 1 on Form 941.

Detach Here and Mail With Your Payment and Form 941.

Form		941-V			Payment Voucher		OMB No. 1545-0029
Form		941-V			Payment Voucher

	Department of the Treasury		Don’t staple this voucher or your payment to Form 941.				2023
	Internal Revenue Service		Don’t staple this voucher or your payment to Form 941.				2023
	1 Enter your employer identification			2		Dollars		Cents
		number (EIN).			Enter the amount of your payment.
					Enter the amount of your payment.
		–			Make your check or money order payable to “United States Treasury.”
3		Tax Period		4 Enter your business name (individual name if sole proprietor).

		1st	3rd
		1st	3rd
		Quarter	Quarter		Enter your address.

		2nd	4th
		2nd	4th		Enter your city, state, and ZIP code; or your city, foreign country name, foreign province/county, and foreign postal code.
		Quarter	Quarter

Form 941 (Rev. 3-2023)

Privacy Act and Paperwork Reduction Act Notice. We ask for the information on Form 941 to carry out the Internal Revenue laws of the United States. We need it to figure and collect the right amount of tax. Subtitle C, Employment Taxes, of the Internal Revenue Code imposes employment taxes on wages and provides for income tax withholding. Form 941 is used to determine the amount of taxes that you owe. Section 6011 requires you to provide the requested information if the tax is applicable to you. Section 6109 requires you to provide your identification number. If you fail to provide this information in a timely manner, or provide false or fraudulent information, you may be subject to penalties.

You’re not required to provide the information requested on a form that is subject to the Paperwork Reduction Act unless the form displays a valid OMB control number. Books and records relating to a form or its instructions must be retained as long as their contents may become material in the administration of any Internal Revenue law.

Generally, tax returns and return information are confidential, as required by section 6103. However, section 6103 allows or requires the IRS to disclose or give the information shown on your tax return to others as described in the Code. For example, we may disclose your tax information to the Department of

Justice for civil and criminal litigation, and to cities, states, the District of Columbia, and U.S. commonwealths and possessions for use in administering their tax laws. We may also disclose this information to other countries under a tax treaty, to federal and state agencies to enforce federal nontax criminal laws, or to federal law enforcement and intelligence agencies to combat terrorism.

The time needed to complete and file Form 941 will vary depending on individual circumstances. The estimated average time is:

Recordkeeping . . . . . . . . . . 22 hr., 28 min.

Learning about the law or the form . .	. . 53 min.
Preparing, copying, assembling, and
sending the form to the IRS	1 hr., 18 min.

If you have comments concerning the accuracy of these time estimates or suggestions for making Form 941 simpler, we would be happy to hear from you. You can send us comments from www.irs.gov/FormComments. Or you can send your comments to Internal Revenue Service, Tax Forms and Publications Division, 1111 Constitution Ave. NW, IR-6526, Washington, DC 20224. Don’t send Form 941 to this address. Instead, see Where Should You File? in the Instructions for Form 941.

Document Specifics

Fact Name	Description
Purpose	The IRS Form 941 is used by employers to report income taxes, Social Security tax, and Medicare tax withheld from employee wages.
Filing Frequency	This form must be filed quarterly, with deadlines on the last day of the month following the end of each quarter.
Eligibility	All employers who withhold federal income tax, Social Security, or Medicare from employee wages must file Form 941.
State-Specific Forms	Some states require additional forms for state income tax withholding, governed by state laws such as the California Revenue and Taxation Code.
Penalties	Failure to file Form 941 on time may result in penalties, which can accumulate based on the amount of tax owed and the duration of the delay.

How to Fill Out IRS 941

Completing the IRS 941 form is an important step for employers to report payroll taxes. After filling out the form, you will need to submit it to the IRS by the due date to avoid penalties. Follow these steps carefully to ensure accuracy.

Obtain the IRS 941 form. You can download it from the IRS website or order a physical copy.
Fill out your business information at the top of the form. This includes your name, address, and Employer Identification Number (EIN).
Indicate the quarter for which you are reporting. The form has specific boxes for each quarter of the year.
Enter the number of employees you paid during the quarter in the designated box.
Report the total wages you paid to employees. This includes tips and other compensation.
Calculate the total taxes withheld from employee wages. Include federal income tax and FICA taxes.
Fill in any adjustments for fractions of cents, sick pay, or other applicable adjustments.
Determine the total tax liability for the quarter by adding the amounts from previous steps.
If you made any deposits, enter the total amount of deposits made during the quarter.
Calculate the balance due or the overpayment by comparing your total tax liability to your total deposits.
Sign and date the form. Ensure the person signing is authorized to do so.
Submit the completed form to the IRS by mail or electronically, depending on your preference.

Free IRS 941 Template

Key takeaways

Dos and Don'ts

Documents used along the form

More PDF Documents

Things to Know About This Form

What is the IRS Form 941?

Who needs to file Form 941?

When is Form 941 due?

What happens if I make a mistake on Form 941?

Preview - IRS 941 Form

Document Specifics

How to Fill Out IRS 941