You wake up, look at your calendar, and realize what today is…oh no. You knew that your Form 941 Deadline was coming up, but you didn’t remember that it was TODAY. That’s alright, we understand the feeling, that’s why the TaxBandits team is here to help you through it!
You need to file by midnight and you’re wondering how you will possibly accomplish this? Take a deep breath, we’ve got a plan. Simply keep reading to learn how to e-file your Form 941 with TaxBandits and what information you will need to file quickly and accurately.
Where do I start?
To file your Form 941 successfully, start with the basics. You will need to have the following information at your fingertips.
Your Business Details
This includes your name, EIN, and address
Your total number of employees
The total deposits that you have made to the IRS
Know if you are a monthly or semiweekly depositor
Know the details of any COVID-19 tax credits you have claimed. This includes qualified sick and family leave wages, the employee retention credit, and the COBRA premium assistance credit.
Your Online Signature Pin. Don’t have one? No problem, you can file using Form 8453-EMP
You don’t have to enter any payment information until your Form 941 is complete and ready for IRS transmission
We also help you pay your balance due to the IRS (when you choose Electronic Funds Withdrawal)
You will also need to have an idea of which 941 worksheets you need to complete. These are all the worksheets applicable to the third quarter:
Worksheet 1. Credit for Qualified Sick and Family Leave Wages for Leave Taken Before April 1, 2021
Worksheet 3. Credit for Qualified Sick and Family Leave Wages for Leave Taken After March 31, 2021
Worksheet 4. Employee Retention Credit for Third and Fourth Quarters of 2021 Only (Qualified Wages Paid After June 30, 2021
Worksheet 5. COBRA Premium Assistance Credit
Which Filing Method should I use?
Well, that’s easy. E-filing is the best method, especially now that the form requires so many more calculations. When you file electronically, your Form 941 will be processed much sooner, giving both you and the IRS peace of mind.
Are there any changes to Form 941 for Q3 that I should know about?
There is a minor change to Form 941. Now, employers that are classified as Recovery Startup Businesses can indicate this by checking the box on Line 18b.
The change to the Form 941 that will have the biggest impact is the switch from using Worksheet 2 to using Worksheet 4. For the third and fourth quarters of 2021, employers will need to calculate the Employee Retention Credit using Worksheet 4.
How Do I E-file with TaxBandits?
You can file your Form 941 in just a few simple steps.
Don’t worry, you won’t be paying any expediting fees or last-minute mark-ups. The Form 941 can be filed with TaxBandits starting at just $4.95 per form.
At TaxBandits, we’re not about annual subscription fees or hidden charges. We just want to help your business meet your IRS filing requirements with as little stress as possible.
You’re ready to get started!
Alright, now that we’ve covered everything you need to file Form 941 before midnight, it is time for you to get started. After all, we only have all day!
If you get caught up in the process you can reach out to our support team, they’re ready to help you. They are here to assist you through the filing process via email, live chat, or phone. Now, what are you waiting for? The clock is ticking!