Form 941 is Now Available for Q4, File Now with TaxBandits!

With so many year-end deadlines coming up, tackle your 941 filing now!

The holiday season is in full swing! Before the ball drops on New Year’s Eve, you can get started on your business’ year-end tax filing with the IRS.

Don’t worry, the team at TaxBandits is here to help. Form 941 is now available for filing for the fourth quarter of 2022.

While there are no updates to Form 941 for the fourth quarter compared to the third quarter of 2022, these are our best tips for successful filing!

A Quick Overview of Form 941

Form 941 is a quarterly form that is filed with the IRS by employers that withhold Medicare, social security, and federal income taxes from their employees’ pay.

Form 941 is used to report the amounts that were withheld, the total wages that the business paid its employees, their tax liability, and the balance due to the IRS. If the business overpaid their deposits, this can be reported on Form 941 as well.

When Does a Business Stop Filing 941?

The answer to this question is simple: after filing its initial Form 941, a business will continue to file this form as long as they operate. The IRS requires employers to file this form each quarter, even if they didn’t withhold any payroll taxes.

There are a few exceptions to this, one of the most common being seasonal employers. Businesses that operate on a seasonal basis, are not required to file for their off-seasons.

When a business closes, it will file its final Form 941 return. There is a box on the form that can be checked to indicate to the IRS that the business is closed and filing its final return.

When is the Deadline to File Form 941?

The deadline to file Form 941 for the fourth quarter of 2022 is January 31, 2023. The deadlines for the next three quarters are as follows:

April 30, 2023
July 31, 2023
October 31, 2023

When a deadline falls over a weekend or on a federal holiday, the return is due to the IRS on the next business day.

Complete your Quarterly Filing with TaxBandits!

When you’re ready to wrap up the quarter and file your Form 941 for the fourth quarter of 2022, TaxBandits is here for you!

Have you fallen behind on your quarterly filings for 2022? TaxBandits can help you get caught up by the new year. We support Forms 941 from previous quarters.

Our e-filing process is simple and streamlined with the time-saving features you need. With built-in error checks using the IRS Business Rules and automatic tax calculations, filing an accurate form has never been easier.

TaxBandits also supports the annual payroll tax forms your business needs to file, like Form 940.

Our team is also here to help you through the process, we offer excellent live customer support. Get started with TaxBandits today by creating your free account!