Another Form 941 deadline is approaching at the end of July for the second quarter.
If you filed your first quarter form earlier this year (let’s hope you did 😬😅), then you may be familiar with the filing process.
If you had difficulties filing previously, we’ve got a solution for simplifying your process.
If you simply need a quarterly refresher, keep reading for an ultimate guide to the Form 941 Quarterly Federal Tax Return.
We’re here to help you avoid mistakes, late penalties, and fees from the IRS.
This Is The Ultimate Guide to Form 941 Schedule B for 2019
What is Form 941?
As you may already know, Form 941 Quarterly Federal Tax Return is filed 4 times a year to disclose employment taxes for those who own and operate a business with employees.
It is known by the IRS as a “Report of Tax Liability for Semiweekly Schedule Depositors”. That’s just a fancy way of saying that it’s used to report the amount withheld from each employee paycheck.
Federal law requires that all employers withhold certain taxes from employees’ pay. You’re responsible for withholding Medicare, income, and social security tax from your employees’ paychecks.
Form 941 Quarterly Federal Tax Return is used to ensure that you’re doing that by reporting the amount withheld from each paycheck. It’s also used to pay the amount of social security and Medicare tax owed by the employer to the IRS.
How Do You File?
File your Form 941 Quarterly Federal Tax Return the same way you do everything these days – online!
Avoid the paperwork and dodge the headache by e-filing with TaxBandits. Signing up is free, and once you’ve done that, you can simply click “Start New Form”, select Form 941, and begin.
Once you’re set up, provide the following information:
- Enter your employer details
- Business type
- Contact info and
- EIN (Employer Identification Number)
This information will be saved to your account, so you won’t have to re-enter next time you file. This is a huge timesaver.
You’ll also enter your signing authority and aggregate filing information in this section.
Next, choose your filing quarter and tax year. Current filing quarter is second, and tax year is 2019. Then select “Start Filing”.
Answer questions regarding your wage and tax information, tax deposit schedule, and more. Enter your third-party designee information if applicable.
The process is easy and the program guides you through the steps one-by-one. If you enter information into the incorrect field the system will alert you and give you a chance to correct it.
After all of the information has been entered regarding tax liability, you’ll have the option to pay any taxes due to the IRS before your deadline. Then, a summary of your information will appear.
Double check for corrections. If it looks good, e-sign the form with just a few clicks.
You can use your free online signature PIN, which takes 45 days to become active with the IRS, or you can use Form 8453-EMP.
The Best Filing Option
If you’re looking to get your taxes out of the way quickly, use TaxBandits to file and move on. E-Filing Form 941 Schedule B for 2019 makes the process quick and straightforward.
Plus, our expert support team is happy to help with any questions or concerns. We’re available over the phone at 704.684.4751 Monday – Friday from 9AM to 6PM. You can also reach out via live chat or receive 24/7 email support at firstname.lastname@example.org.
We’re here to make the complicated stuff simple. Take advantage of the benefits TaxBandits offers today.