About Form 941, Employer's Quarterly Federal Tax Return
Form 941 is a document used by employers to report income taxes, Social Security tax, and Medicare tax withheld from employee paychecks. It is also used to pay the employer's portion of Social Security or Medicare tax. This form is filed quarterly.
Reporting Responsibilities
Employers use Form 941 to fulfill the following reporting responsibilities:
- Report income taxes, Social Security tax, or Medicare tax withheld from employee paychecks.
- Pay the employer's portion of Social Security or Medicare tax.
Recent Developments
The following recent developments have been made regarding Form 941:
- Certain forms, instructions, and publications used by taxpayers in Puerto Rico have been replaced -- 14-MAR-2024
- Early Termination of the Employee Retention Credit for Most Employers -- 23-NOV-2021
- Correction to the Instructions for Form 941 (Rev. June 2021) -- 19-OCT-2021
- Rev. Proc. 2021-33 provides a safe harbor on figuring "gross receipts" solely for determining eligibility for the employee retention credit
- Notice 2021-49 provides guidance on the employee retention credit (ERC) under IRC 3134 and on other miscellaneous issues related to the ERC
- Notice 2021-46 supplements Notice 2021-31 on temporary premium assistance for COBRA continuation coverage under the American Rescue Plan Act of 2021
- Notice 2021-31 provides guidance on temporary premium assistance for COBRA continuation coverage under the American Rescue Plan Act of 2021
- Clarification of the definition of qualified sick leave wages and qualified family leave wages -- 29-JAN-2021
- More time to withhold and pay the employee share of social security tax deferred in 2020 -- 28-JAN-2021
- Didn’t get requested PPP loan forgiveness? You can claim the Employee Retention Credit for 2020 on the 4th quarter Form 941 -- 22-JAN-2021
- Form W-2 reporting of employee Social Security tax deferred under Notice 2020-65 -- 29-OCT-2020
- Changes to reporting tax liabilities if you claim certain nonrefundable credits -- 16-SEP-2020
- Failure to deposit penalties on some employers claiming new tax credits -- 21-AUG-2020
- Temporary e-file waiver for CPEOs (Notice 2020-35) -- 01-JUN-2020
- Impact of recent COVID-19 legislation on employment taxes -- 05-MAY-2020
- IRS COVID-19 new FAQs on sick leave and family leave
- Employee Retention Credit for employers subject to closure due to COVID-19 crisis -- 03-APR-2020
Schedules
Form 941 has several schedules that may be required based on specific circumstances. These schedules include:
Schedule B (Form 941), Report of Tax Liability for Semiweekly Schedule Depositors
File Schedule B (Form 941) if you are a semiweekly schedule depositor. You are considered a semiweekly depositor if you meet either of the following criteria:
- Reported more than $50,000 of employment taxes in the lookback period.
- Accumulated a tax liability of $100,000 or more on any given day in the current or prior calendar year.
For more information on Schedule B (Form 941), refer to the Instructions for Schedule B (Form 941).
Schedule D (Form 941), Report of Discrepancies Caused by Acquisitions, Statutory Mergers, or Consolidations
Employers use Schedule D (Form 941) to explain certain discrepancies between Forms W-2, Wage and Tax Statement, and Forms 941, Employer's Quarterly Federal Tax Return. These discrepancies may involve the totals of:
- Social security wages.
- Medicare wages and tips.
- Social security tips.
- Federal income tax withheld.
- Advance earned income credit (EIC) payments.
For more information on Schedule D (Form 941), refer to the Instructions for Schedule D (Form 941).
Schedule R (Form 941), Allocation Schedule for Aggregate Form 941 Filers
Use Schedule R (Form 941) to allocate the aggregate information reported on Form 941 to each client. If you have more than 15 clients, complete as many continuation sheets as necessary. Attach Schedule R, including any continuation sheets, to your aggregate Form 941.
For more information on Schedule R (Form 941), refer to the Instructions for Schedule R (Form 941).
Additional Resources
Here are some additional resources that may be useful:
- All Form 941 revisions
- E-file Form 940, 941, or 944 for small businesses
- Certain taxpayers may now file their employment taxes annually
- Revenue Ruling 2012-18
- Answers to frequently asked questions for individuals of the same sex who are married under state law
- Other current products
For more detailed information and instructions on Form 941, please refer to the official IRS webpage.