TaxBandits Form 941 Features that Simplify the E-filing Process

It’s hard to believe that it is already April, 2022 seems to be flying by. It is hard to believe that we have already completed the first quarter, which means that it is time to file quarterly payroll Form 941. 

All employers who withhold federal income taxes, medicare taxes, and social security taxes from their employee’s wages are required to file Form 941. 

With TaxBandits, filing forms has never been easier, we track and update this form each quarter so that our clients don’t have to!

We also offer time-saving features that keep the e-filing process simple and seamless. 

Built-in Error Checks

As you file, our application checks your form against the IRS Business Rules. This helps ensure that you are filing the form accurately. 

Automatic Tax Calculations

That’s right, you can leave your desk calculator in 1995, where it belongs. TaxBandits helps calculate the fields of your form to avoid those small clerical errors that can result in an IRS rejection. 

Built-in 941 Worksheets

Over the past several quarters, employers have needed to complete certain worksheets to determine the portions of their refundable and non-refundable tax credits. For the first quarter of 2022, the following worksheets are available:

  • Worksheet 1: Credit for Qualified Sick and Family Leave Wages Paid in 2022 for Leave Taken After March 31, 2020, and Before April 1, 2021 
  • Worksheet 2: Credit for Qualified Sick and Family Leave Wages Paid in 2022 for Leave Taken After March 31, 2021, and Before October 1, 2021
  • Worksheet 3: COBRA Premium Assistance Credit 

The Zero Filing Feature

If you are an employer that hasn’t paid wages during the quarter, you are still required to file Form 941, unless the business is a seasonal one. By selecting the Zero-filing option, TaxBandits will auto-populate zeroes where they belong and you are able to skip through the form in minutes. 

Schedule B

If your business is a semi-weekly depositor, you are required to complete and attach Schedule B. TaxBandits supports Schedule B and filers can easily complete it as they file Form 941. 

Form 941 Schedule R

Professional employer organizations (PEOs), payroll providers, and reporting agents that file Form 941 on behalf of their clients. TaxBandits supports Form 941 Schedule R and enables these entities to complete and e-file it easily. 

Bulk Uploads

Tax professionals that are filing Form 941 on behalf of their clients across multiple EINs can take advantage of the bulk upload feature. This allows you to upload the Form 941 information of multiple businesses so that they can be e-filed in batches. 

Prepaid Credits

Whether you are a business owner that files Form 941 for your business quarterly or a CPA that is responsible for many clients, prepaid credits help you save both time and money. Maximize your savings with volume-based pricing and skip the checkout process when filing a form by applying your credits. 

Are you ready to begin filing your Form 941 for the first quarter of 2022? TaxBandits also supports Form 941-PR for employers of Puerto Rico and 941-SS for employers in Guam, American Samoa, and the Commonwealth of the Northern Mariana Islands. 

Don’t forget to take advantage of these great filing features! 

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