The Clock is Ticking: File Your Q2 Form 941 with TaxBandits Today
The deadline for filing your second-quarter Form 941 is quickly approaching. While filing Form 941 can be a daunting task, TaxBandits transforms it into a straightforward experience with its enhanced features.
Gather your necessary information and start your 941 filing with TaxBandits today. Enjoy the benefits of our streamlined process to make your filing effortless.
Updates to Form 941 for 2024
The IRS has introduced several updates to Form 941 for the 2024 tax year. Here are the key changes:
- Social Security Tax Rate: The rate remains at 6.2% for both employees and employers, but the wage base limit has increased to $168,600.
- COVID-19 Tax Credits: Several lines related to COVID-19 tax credits have been removed, including:
- Lines 5a(i) and 5a(ii)
- Lines 11a to 11g
- Lines 13a to 13i
- Lines 19 to 28
- Form Changes: Form 941-PR and Form 941-SS have been discontinued. Use Form 941 (sp) in Spanish or the regular Form 941 to file your returns.
Recent Updates for Q2 2024
There are minor changes to the IRS business rules validation and schema validation for Q2, 2024. TaxBandits has adapted to these changes to ensure a seamless e-filing experience.
Extended Deadlines for West Virginia and Kentucky
Due to a severe disaster in West Virginia and Kentucky beginning on April 2, 2024, the IRS has postponed the deadline for the second quarter of Form 941 to November 1, 2024.
Information Required for Filing Form 941
Ensure you have the following information ready before you start filing:
Business Information:
- Name
- EIN
- Address
- Quarter Details
Employment Information:
- Total number of employees
- Wages, tips, and other compensation
- Federal income taxes withheld
- Employee’s portion of Social Security and Medicare taxes
- Employer’s portion of Social Security and Medicare taxes
- Additional Medicare taxes (if applicable)
- Business deposit schedule (monthly or semi-monthly)
Why Choose E-Filing?
The IRS highly recommends filing all tax forms electronically. E-filing is faster, more secure, and ensures your tax returns are processed quickly, allowing you to pay your balance due promptly.
How to File with TaxBandits
E-filing with TaxBandits is simple. Follow these steps:
- Sign In: Log into your TaxBandits account. If you don’t have an account, create one.
- Start New Form: Click “Start New Form” and enter the required information.
- Review: Carefully review all the information.
- Pay and Sign: Pay the IRS balance due and sign Form 941.
- Transmit: Transmit the return to the IRS.
Why Wait? E-file Now with TaxBandits!
Avoid unwanted penalties by filing your tax form with TaxBandits today. With advanced features like copy return, zero reporting, bulk upload, and enhanced security, you can e-file 941 within minutes.
Beat the clock now with TaxBandits! We’re here to assist you with your 941 filing.
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