Fillable Form 941 (2024)

What is Form 941?

Form 941, also known as the Employer’s Quarterly Federal Tax Return, is an IRS tax form that is used by employers to:

• Report federal income taxes, Social Security tax, or Medicare tax withheld from employee’s paychecks.
• Report the employer’s portion of Social Security or Medicare tax contributions for their employees.

If you are an employer, then you are required to file Form 941 each quarter even if you have no existing employees or tax liabilities for that period.

What information is reported on Form 941?

The 941 form contains the following information:

• Employee wages
• Reported employee tips
• Federal income tax withheld from employees
• Employer and employee contributions to Social Security and Medicare taxes
• Additional Medicare Tax withheld from employees (if applicable)
• Adjustments for Social Security and Medicare taxes related to rounding, sick pay, tips, and group-term life insurance
• Payroll tax credit for small businesses conducting qualified research activities

What is needed to file a Form 941?

Before you file a 941 form, make sure that your payroll records and business information is up-to-date. Confirm if you have the following information on this checklist:

• Employer Identification Number (EIS)
• Business name, address
• Number of employees
• Total wages paid for the quarter
• Federal income tax withheld
• Medicare and Social Security tax withheld\
• Deposits made to the IRS
• Balance due, if any
• Deposit schedule and tax liability

How to Fill Out Form 941?

Get a copy of 941 (2024) template in PDF format.

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Get the fillable Form 941 from PDFRun.

Make sure to provide all the required information correctly and truthfully. Follow the guide on how to fill it out.

Section 0: Employer Information

1. Employer Identification Number

Check the box beside the claim program/process that is applicable to you:

• U.S. Passport Book
• U.S. Passport Card
• Both

2. Name

Enter your full legal name (not trade name).

3. Trade Name

If you have a trade name, indicate it here.

4. Address

Enter your address details such as the number, street, suite/room number, city, state, ZIP code, foreign country name, foreign province/county, and foreign postal code.

5. Reporting Quarter

Check the box beside the quarter this form is for.

Section 1: Tax Questions

Answer the following questions:

• Line 1: Number of Employees who received wages, tips, other compensation for the pay period
• Line 2: Wages, tips, and other compensation
• Line 3: Federal income tax withheld from wages, tips, and other compensation
• Line 4: If no wages, tips, and other compensation are subject to social security tax, check the box and skip to Line 6.
• Line 5a: Taxable social security wages
• Line 5b: Taxable social security tips
• Line 5c: Taxable Medicare wages and tips
• Line 5d: Taxable wages and tips subject to Additional Medicare Tax withholding
• Line 5e: Total Social Security and Medicare Taxes
• Line 5f: Tax due on unreported tips
• Line 6: Total taxes before adjustments
• Line 7: Current quarter’s adjustment for fractions of cents
• Line 8: Current quarter’s adjustment for sick pay
• Line 9: Current quarter’s adjustments for tips and group-term life insurance
• Line 10: Total taxes after adjustments
• Line 11: Qualified small business payroll tax credit for increasing research activities
• Line 12: Total taxes after adjustments and nonrefundable credits
• Line 13: Total deposits for this quarter, including overpayment applied from a prior quarter and overpayments applied from Form 941-X, 941-X (PR), or 944-X filed in the current quarter
• Line 14: Balance Due
• Line 15: Overpayment

Section 2: Deposit Schedule and Tax Liability for the Quarter

• Line 16: Check the box beside the deposit schedule/tax liability that applies to you.

Section 3: Business Info

• Line 17: Check the box if your business has closed or stopped paying wages. If checked, indicate the final date you paid wages and attach a statement to your return.
• Line 18: Check the box if you are a seasonal employer and don’t have to file a return for every quarter.

Section 4: Third-Party Designee

Check Yes if you want to allow a third-party to discuss this return with the IRS. Then, indicate the Designee’s Name and Phone Number, and a 5-digit PIN to use when talking to the IRS.

Check No if you do not want a third-party to discuss this return with the IRS.

Section 5: Signature

1. Signature

Input your signature in the box.

2. Name

Enter your full legal name.

3. Title

Enter your position title in the company you are part of.

4. Date Signed

Indicate the date when this form was signed.

5. Best Daytime Phone

Enter the phone number where you are most reachable during the daytime.

If you are a third-party who prepared the form on someone's behalf, then fill up the following details. If not, skip to the next section.

6. Preparer’s Name

Enter your full legal name.

7. Preparer Tax Identification Number

Enter your PTIN, or Preparer Tax Identification Number.

8. Preparer’s Signature

Input your signature in the box.

9. Date Prepared

Indicate the date when this form was signed.

10. Firm’s Name

Enter the name of the firm you are preparing this form for.

11. Employer Identification Number

Enter the firm’s Employer Identification Number.

12. Preparer’s Address

Enter your address, city, state, and ZIP code.

13. Preparer’s Phone

Enter your phone number.

Section 6: Payment Voucher

1. Employer Identification Number

Enter your Employer Identification Number.

2. Amount of Payment

Enter the amount of your payment and in dollars and cents.

3. Tax Period

Shade the circle beside the tax period this form is for.

4. Business Information

Enter the following information about your business:

• Business Name (Individual Name if sole proprietor)
• Address
• City, State, ZIP Code, or City, Foreign Country Name, Foreign Province/County, and Foreign Postal Code

FAQs about Form 941

What if I don’t get to file a Form 941 on time?

If you do not meet the deadline of filing a Form 941, then you will face a penalty of 5% of the unpaid tax amount for each month it is late. This penalty can go up to a maximum cap of 25%.

When is the deadline for Form 941?

The deadline for filing the Form 942 is usually due on the last day of the month after the quarter ends. For example, if the 1st quarter is from January to March, then the deadline will be April 30.

Who is exempted from Form 941?

The following are exempt from Form 941:

• Seasonal Employers: They are not required to fill out Form 941 if they did not pay wages for the quarter.
• Farmworkers or Household Employees: Instead of Form 941, employers use Form 943.
• Businesses with less than $1,000 of total annual employment tax liabilities: They typically use Form 944 instead.