Essential 2022 Deadlines For Payroll Form 941

Are you tracking your business' quarterly deadlines? Find out more!

Stephanie Glanville | October 19, 2022 | Read time: 4 minute(s) | Form 94x Series | No Comments

As an employer, you have some IRS filing requirements that are crucial to maintaining your IRS compliance. One of these requirements is quarterly reporting on Form 941.

Since it is a quarterly form, this means that there are four deadlines a year to keep up with.

Let’s cover the basics of Form 941, including why you might need to file for your business, and of course when to file this form.

The Basics of Form 941

This tax form is officially called the Employer’s Quarterly Federal Tax Return. All employers are required to withhold certain taxes from their employee’s paychecks, including Federal Income taxes, Medicare taxes, and Social Security taxes.

Therefore, every business owner with employees must file this form on a quarterly basis. The deadline to file for the third quarter is approaching on April 30, 2021.

This form must be filed and submitted with the outstanding tax payment. This tax return can be paper-filed or filed electronically to the IRS. Not only does the TaxBandits team recommend that you file electronically, but so does the IRS!

E-filing is the all-around better option, when you file electronically the IRS can process these forms at a much faster rate.

Another great reason to e-file is that the process with the TaxBandits is easy and accurate!

Why do you need to file Form 941 for your Business?

If you paid wages to your employees that are subject to withholding, you are most likely required to file Form 941 each quarter.

Once you have filed your first return, you will need to file a Form 941 for every quarter, regardless of whether you have taxes to report, until you file a final return for your business.

There are a few exceptions to this. Seasonal employers aren’t required to file every quarter, and those that employ household workers or farm workers are held to different filing requirements.

When do you need to file Form 941?

As this form is a quarterly one, there will be four deadlines to follow during the 2022 tax year. Keeping track of these dates and filing in a timely manner is the key to maintaining your IRS compliance.

Quarter 1- May 02, 2022
Quarter 2- August 01, 2022
Quarter 3- October 31, 2022
Quarter 4- January 31, 2023

Please note that if any of these deadlines land over a weekend or on a federal holiday, the next business day will become the filing deadline.

Simplify your Quarterly Filing with TaxBandits!

When you are ready to get started on your Form 941 for the third quarter, TaxBandits is here to help! We offer a simple e-filing process that allows you to file quickly and accurately using tools like our zero-filing feature for businesses with no taxes to report, and bulk upload capabilities for tax professionals.

We also support Form 941-PR, Form 941-SS, and even 941 Schedule R. TaxBandits offers a complete solution for all of your 94x filing needs!

Do you need to catch up on your quarterly filing? Be sure to purchase prepaid credits, this helps you save when you are filing multiple forms!