Everything You Need To Know About IRS Form 941

We can now say that we have successfully survived the biggest tax deadline of the year, despite the IRS system shutdown. If you failed to file your taxes by the April 17th deadline, I suggest you hurry and apply for an extension of time to file. The longer you wait, the more penalties you will incur.

With Tax Day 2018 out of the way, you might think you are out of the woods, right? Well just when you thought you were out… they pull you back in. The deadline for filing your IRS Form 941 is April 30th, 2018. Here is how to prepare for the next big tax deadline for business owners.

The Next Big Tax Deadline for Business Owners

IRS Form 941, Employer’s Quarterly Tax Return, is used to report employment taxes. Owners and operators of a business that has employees must file IRS Form 941 quarterly.

Employers filing IRS Form 941 are responsible for withholding federal income tax, social security tax, and Medicare tax from each of their employee’s salary. Form 941 assists employers with calculating the employer’s portion of Social Security and Medicare tax.

IRS Form 941 Tax Filing Deadline

IRS Form 941 is filed quarterly (four times a year) with the first quarter covering the months of January, February, and March. Here are the quarterly filing dates for 2018 Form 941 filings:

Form 941 Instructions 2018

The following information is required for Form 941 tax filing:

Employer Details: Name, EIN, and Address
Employment Details:
- Employee Count
- Medicare Tax and Social Security
- Deposit Made to the IRS
- Tax Liability (Monthly/Semiweekly)
- Signing Authority Information
- Online Signature PIN or Form 8453-EMP