Q2 941 Season is Here! TaxBandits Offers a Streamlined Solution to E-file Your Return on Time!

Your guide to getting started on Form 941 for the second quarter of 2024!

July is here, the fireworks went off on the fourth, and now it’s time to tackle Form 941 for Q2, 2024! Now is the ideal time to gather all the required information and file Form 941 with the IRS before July 31, 2024. 

Filing tax Form 941 can be quite stressful, however, TaxBandits is here to make your 941 filing a breeze with its new, exclusive features. Take advantage of all our time-saving features to file quickly and easily, and avoid IRS penalties.

Keep reading this blog for a quick overview of Form 941 – Q2, and then start your 941 filing for this quarter.

New Releases from the IRS for Q2, 2024

There are no significant changes to Form 941 for the second quarter (Q2) of 2024. However, the IRS has updated the business rule validation and schema validation. TaxBandits has accommodated these updates to the e-filing system to provide easy and secure filing.

Form 941, Q2 Deadline Extension: West Virginia and Kentucky

Certain states in the U.S. have extended the deadline for filing Form 941 – Q2, 2024. Taxpayers should take note of this important information and file their taxes on or before the extended deadline. 

West Virginia and Kentucky are the states qualified for tax relief programs due to severe natural disasters such as storms, straight-line winds, tornadoes, flooding, landslides, and mudslides that began on April 2, 2024. The IRS has extended the deadline for these states until November 1, 2024.

Schedule B and Schedule R are Supported

While filing Form 941, employers must attach some schedules with it. Here are the schedules that should be attached to Form 941

Schedule B

Form 941 Schedule B is the IRS tax form that is used to report the tax liability to the IRS. If the business is operating as a semi-weekly depositor it is required to attach Form 941 Schedule B with Form 941. If the reported taxes in the lookback period exceed $50,000 or the tax liability is more than $100,000 for the current or past calendar year schedule B should be attached to it. Even though you are not a semi-weekly depositor and the accumulated taxes reach $100,000 or more you are not required to file Form 941 schedule B.

Schedule R

CPEOs and section 3504 reporting agents are required to attach Form Schedule R to the aggregate Form 941. Employers must complete Schedule R each time they file an aggregate Form 941.

Simplify Form 941 – Q2 Filing with TaxBandits!

With TaxBandits, You can easily file your Tax forms with its advanced features. For this tax season, TaxBandits is here with an exclusive and time-saving feature. 

Use the Copy returnfeature to copy the data from the previous quarter’s accepted return. It helps you to maintain accuracy and saves you time entering data! Here are some of the other advanced TaxBandits features that you can take advantage of:

Bulk Uploads

TaxBandits helps you file multiple forms to multiple clients by importing all of your client’s information at once.

Built-in Error Checks

It prevents common filing mistakes and audits your forms using the IRS Business Rules.

Zero Reporting

No taxes are there to file for this quarter. Select the zero reporting feature and save your time.

Supports Schedules and Attachment Forms

TaxBandits supports all the supporting forms such as 941 Schedule B, 941 Schedule R, and any applicable worksheets.

Easy E-signature Options

You can easily e-sign your form using the online signature PIN or Form 8453-EMP.

Advanced Security

TaxBandits uses multi-factor authentication to protect your sensitive information and partnered with Veriff to protect you against identity theft and fraudulent activities.

Start to e-file 941 for the second Quarter(Q2) of 2024 today with TaxBandits!

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