How to Fill out IRS Form 941: Simple Step-by-Step Instructions

A step-by-step explanation on how to fill out Form 941. Businesses with employees must file IRS Form 941 on a quarterly basis to report income taxes, Social Security taxes, and Medicare taxes that they’ve withheld from employee paychecks. This form is also used to report the employer’s quarterly portion of Social Security and Medicare taxes. Failure to file this form on time or underreporting your tax liability can result in penalties from the IRS. Stay in the clear and keep your finances in order by understanding everything that you need to know about IRS Form 941. For more, check out our article on Form 941: bit.ly/2KLOiJm
Our video covers:
Form 941 Due Dates (1:01)
Part 1: Wage and Withholding Information for the Quarter (1:37)
Part 2: Deposit Schedule and Tax Liability (10:59)
Part 3: Business Information (12:44)
Part 4: Third-Party Designee (13:06)
Part 5: Signature and Title (13:39)
In this video, we provide a basic overview on filling out IRS Form 941. This video is not intended to provide legal advice or to form a professional relationship. We suggest contacting a business lawyer for advice specific to your circumstances.
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[@roslynwilliams4917]

Your videos on the form 940 and 941 was so helpful! Thank you!

[@tiffanyhine1526]

I just want to thank who ever made this video! I have been struggling with this form for a few day as a newbe filling it out and could never get it to total up correct. This helped me step-by-step, so I could see what I was originally doing wrong. Thank you so much!

[@pervysage6969]

Same

[@taxintelinc.8674]

Excellent, easy to understand. Thank you!

[@ilovemicasarealty9273]

Amazing video! Thank you

[@Shiviceb]

Thank you for this!! helped me out a lot

[@dagsterblaster4973]

This was super helpful! Today was dedicated to figuring this out, was really dreading the work. You made it easy to follow along and simplified it from the jargon.

[@FunderaLedger]

That's very nice of you to say :) We're glad to be of service.

[@frankbazan3587]

Thank you! Very well done explanation.

[@PsychClinicianLatashaCar-ei1wz]

😄This was very convenient and helpful. thank you so much. We will be back for more videos!

[@smitaaay]

This video is so well done. 👍👍

[@sharonbacis6980]

Excellent and well-explained info. I was able to fill out my 941 all on my own with video as I could not get a hold of my CPA. I needed it to get my PPP loan. Priyanka is very articulate and confident.

[@WHITELIONNYC]

Seriously, same here. Mine is probably on a respirator.

[@scottbz924]

THANK YOU !

[@WHITELIONNYC]

I watched so many different videos on this and this is the only one that: kept it simple, got to the point, and concise. Thanks you have a new subscriber! 😇😇😇😇😇😇😇😇😇😇😇😇

[@DTechMiami]

Thank you!!

[@jessiegamestheworld9498]

your the best on youtube

[@ricardohernandez5399]

Great video, thank you! Question. If I operate my corporation seasonally. I'm still required to report form 941 with zero wages each quarter and once I have income and pay myself a salary, then report those wages in the quarter the money is earned. Is this correct?

[@sequoiapahvitse3117]

So did you just make line 7 up as an example?... That is the one I needed help with.

[@liliyllamas9403]

Would you be able to produce a video on filing Form 943-X for the TY 2020 & 2021?

[@doboyad4816]

Hey if I made a 140 for the year do i put that in line 2 or divide it by four and use the quarterly wage

[@yasminabdulghani293]

What about if the employee doesn’t get w2 just 1099 do the employer need to add them?

[@jessedmanuell7172]

thank How is the IRS notified after filing the 941 to which employee corresponds these deductions, is it on the 1120 return at the end of the year?

[@LuisGarcia-gg1pm]

Thanks

[@adriannapisano1235]

Hi, do you know if the IRS is accepting electronic signatures from the business owner/employer when mailing in a 941-X form? cannot seem to get a straight answer and calling the IRS does not help.

[@midsaahir3666]

hello i have client that did not do her quarterly taxes, she did everything at the end of the year. So my question is which box does she check , on the beginning of the 941 form

[@aidagagnay]

What line is the gross receipt amount? Thanks

[@naveedyounasmayo]

your video is very helpful can you provide me any link for 941x

[@frankquocle9148]

Hi, can Sub-contractors with Schedule C, Form 1099, be qualified for ERC? Thank you.

[@TheSeanandanj]

The amount of your payment on the payment voucher...what is that referring to. The balance due amount on line 14?

[@cakeladylewis7600]

IS LINE TWO FOR THE YEAR OR JUST FOR THE QUARTER?

[@joannthomases9304]

Are these forms on the Fed. Regisyry under 13132 ? Yes or No ?

[@MAGINATIONSTUDIO_]

If your company is yet to lunch, making $0 and only have one 1 employee. Are those numbers going to be $0 or leave them blank? Do I even still have to report those quarters?

[@TienNguyen-zs5mf]

I’m a 1099 j have no employee how do I fill out the form 941

[@jriver25]

thank you for the information. what happens if I didn't file mine for 2019?

[@ldbs8138]

The IRS should or will contact. I am not an accountant.

[@boazhospitality5926]

What if you are a sole proprietor with no employees? Is this the form you fill out?

[@dame8731]

Thanks for the explanation. Very informative and helpful. Also, you sound cute!!

[@FunderaLedger]

Thanks Corie!

[@DreamVisionNetwork]

Not understanding how I already deducted FICA and we're doing it again. No way should I owe $607 in taxes for paying $1643 in wages.

[@billjuss5331]

Line 1: If a Corporate Officer is being paid a fixed salary from the Corporation, is he/she considered an employee and counted as 1 or not counted at all. Please Clarify Box 1, Thanks, also, enjoyed your youtube.

[@milesagha7582]

Can you do a video about the PPP Loan forgiveness application I need your help.

[@FunderaLedger]

Sorry for the late reply! In case you haven't seen it, we do have a video on the PPP loan forgivness application: kzbin.info/www/bejne/boi8qoaKgpd0htU

[@user-im5iu3bo1e]

Form 941 has changed a little since 2019 to now 2023 but, still the video was very helpful and easy to follow. Please do an updated video. Thank you :)

[@lazaromartinez9351]

Line 1: What does the Mar. 12, Jun. 12, Sept 12, and Dec. 12 mean? Is it some kind of cut off date? Thank you for the video!

[@FunderaLedger]

It indicates that you should include the number of employees on your payroll for the pay period that includes those dates. If you add employees to payroll after that date, you don't have to include them on your federal tax return for that quarter.

[@lazaromartinez9351]

@@FunderaLedger Thank you!

[@FunderaLedger]

@@lazaromartinez9351 of course!

[@Danakai1]

Ok my question is my quarterly taxes were filed and paid by my payroll company. What about the other portion of money that didn’t go into payroll? How do we file those fees

[@FunderaLedger]

Hey Dana. You would report these earnings on IRS Form 945.

[@Danakai1]

Fundera thank you are those every quarter as well.

[@FunderaLedger]

@@Danakai1 nope just annually.

[@baebravo2098]

Hello i have q question. My husband and i fairly new to payroll. And need to know do you need to file this form along with the edd de 9c? Every 4 mnths. Pls respond asap. Or can i do it annually.

[@FunderaLedger]

If you withheld federal income tax on employees wages every quarter, you need to file Form 941.

[@davidwilliamscpa4365]

Contact me [e-mail]

[@miguelmagallmm]

Do I deduct 401k contribution to line 2?

[@FunderaLedger]

Hi Miguel, thanks for watching! In the IRS instructions for Form 941, they mention that you should include all wages and compensation in line 2 that would be included in an employee's W-2 form. Employee contributions to a 401(k) and employer matching contributions are not included on a W-2, so they shouldn't be included in line 2 of Form 941. Hope that's helpful! Of course, we always recommend working with a tax pro if you have questions specific to your business.

[@Mr90can]

How can I figure out the amount for Line 2? I am an ower-employee, and I don't have software to calculate the amount.

[@FunderaLedger]

Thanks for the question. We would refer you to this IRS instruction sheet for further assistance: www.irs.gov/instructions/i941 Hope that helps!

[@davidwilliamscpa4365]

Contact me [e-mail]

[@davidgarner4572]

@@davidwilliamscpa4365 need help with the 941 4th quarter [e-mail]

[@todd8672]

I have a S Corp and I paid myself by w-2 as a one time 4th Q online. The amounts were fixed and I paid it when submitted. I did this because I was told NOT to 1099 myself as I had the past years. Since then I am getting the IRS warnings that I did not file the 941. When looking at the calculations on what should have been paid vs what was paid is about 1/2. Will I be on the hook to pay the same amount of taxes a second time as I did online ?

[@FunderaLedger]

Hi Scott, An S-corp can pay owner-employees a salary, but then you do have to file the Form 941 to report the amounts withheld from the employee's income.

[@todd8672]

@@FunderaLedger Yes, I am finding this out the hard way as I usually just do a 1099. I did the w-2 online and paid the employer taxes directly. They now sent me the and when I calculate it out I have to pay the same amount that I already paid as it was only 1/2 ? They are allowing me to do the 944 as this is a one time payment in Dec.

[@davidwilliamscpa4365]

Contact me [e-mail]

[@jayroe5480]

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[@sharonlewis7337]

What if my line 12 don't match my total of payments. I have 2187 on line 12 and I paid 1716.76 in taxes

[@FunderaLedger]

Hi Sharon! In that case, you should check how much you paid in the deposits over the course of the quarter and see if you have an outstanding balance (line 14).

[@deirdredanna5291]

I have a question? Do i have to pay medicare and social security taxes on 32,000? I earned money only one quarter and I have no employees.

[@FunderaLedger]

IRS Form 941 is for reporting the total amount of federal income tax you withheld from employee's payroll and send to the IRS. However, if you're a seasonal employer you don't have to File Form 941 in quarters in which you paid no tax liability because you paid no wages to employees. For more info, visit: www.irs.gov/pub/irs-dft/i941--dft.pdf

[@deirdredanna5291]

@@FunderaLedger thank you for your help. I still wondering why the IRS is mandating a 941 when i have already confirmed I do not have employees.

[@nasirnasirkhan5485]

SSN SCHEDULE (C)

[@nasirnasirkhan5485]

Personal tex return schedule (c)

[@nasirnasirkhan5485]

SS4EIN Verification letter only EIN Applicant

[@temesgenbelai87]

I have a question I’m applying for ppp loan and the lender is asking for the 941 how do fill out with out any employes

[@tommylsu09]

I have the same question

[@pablosanchez5838]

Definitely waiting on this answer

[@great4ever845]

Lol is the wages before or after tax ?

[@gloryjay2025]

Deelscafe

[@lelalaiguterres1257]

Does not help

[@stoneyj1a1]

outdated

[@blabbermouth9686]

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[@NewJerusalemBaptist.Church]

Why is 5a have (x.124)?! I thought employer and employee pay half and half