Another 941 Season is Here! TaxBandits is Accepting Form 941 for Q3, 2024
As the third quarter of 2024 comes to a close, it’s time to prepare all the necessary information for filing Form 941 online for Q3. With the important deadline of October 31, 2024, fast approaching, being ready is essential.
TaxBandits is now accepting Form 941 for the current quarter and has introduced new features to make your tax filing process smoother than ever. Take advantage of these tools to streamline your 941 filing. Let’s dive into the details in this blog!
IRS Form 941 – An Overview
Form 941 (Employer’s Quarterly Tax Return) is the employer’s tax form used to report the Federal, Social Security, and Medicare (FICA) taxes withheld from the employee’s paycheck. Employers must also report their contribution to FICA taxes in Form 941. All these withheld taxes must be reported to the IRS every quarter.
As mentioned above, Filing Form 941 can be a daunting task. It’s idle time to gather the required information to file Form 941 for Q3 2024. To make your tax season more smooth than ever, TaxBandits has come up with some exclusive features.
What’s New in TaxBandits for Q3, 2024
TaxBandits unveils exclusive new features for Q3 2024, designed to simplify and enhance your 941 filing experience.
- Bulk e-sign: You can send multiple e-sign requests to your clients in a single click. Once your client has signed, you can select them in bulk and sign them in one go.
- Balance Due: You can now pay your balance due on Form 941 using multiple payment methods.
- Credit card – You can use a credit or debit card to pay balance dues. TaxBandits, partnered with ACI Payments, allows you to make instant and secure payments. Please note that credit card payments can only be made if your balance due is less than $2500.
- EFTPS – Conveniently pay your federal taxes by authorizing TaxBandits using Form 8655 to handle your tax payments efficiently.
- 941-X e-filing: Amend the errors in your 941 returns easily by e-filing Form 941-X.
- Zero reporting: If you have no taxes to report, easily file your zero taxes in a single click.
TaxBandits Supports Additional 941 Attachments
TaxBandits supports various tax forms to make your tax filing process more efficient. Here are some of the common tax forms:
941 Schedule B: If you become a semi-weekly depositor during the quarter, you must attach Form 941 Schedule B along with Form 941. You must follow semi-weekly depositors only if you have reported $50,000 or more in employment taxes or acquired tax liability of $100,000 or more in any day in the current quarter.
IRS Form 8974: Form 8974 (Qualified Small Business Payroll Tax Credit for Increasing Research Activities) used by the employer to determine the amount of qualified small business pay tax credit for research activities.
Authorization Forms
- Form 8879: IRS Form 8879 authorizes the Electronic Return Originator(ERO). EROs can use a PIN to file and sign the 94x returns electronically.
- Form 8453-EMP: Form 8453-EMP is used by CPEOs, Section 3504 agents, and third-party providers to authorize tax professionals to e-file and sign the 94x tax returns electronically.
941 Schedule R for Aggregate Filers:
- 941 Schedule R: Aggregate fillers such as CPEOs and Section 3504 agents are required to attach 941 Schedule R with the aggregate Form 941. It simplifies the aggregate reporting process by allocating aggregate wages reported on Form 941.
Simplify Form 941 Q3 E-filing with TaxBandits!
While the Q3 deadline may seem distant, it’s essential to gather your information and prepare to file Form 941 to avoid penalties and notices. TaxBandits simplifies the 941 e-filing process with exclusive features like copy return, bulk upload, built-in error checks, and enhanced security. Plus, TaxBandits offers free online signature PINs for easy filing of your 94x returns.
Take advantage of these powerful tools and file your 941 tax returns with ease.
Don’t wait until the last minute—start filing Form 941 now with TaxBandits!
Check out the video below to see it in action!
