Tag Archives: 941 taxes

Top Reasons Employers Mess Up 941 Taxes – And How to Prevent Problems

Payroll taxes are an unfortunate reality for business owners, many of whom struggle to report on and remit withholdings to the IRS. Mistakes are all too common, with some leading to such harsh consequences as garnished accounts or even criminal penalties. These issues can often be avoided, as we demonstrate below: Manual Errors Many IRS […]

You Screwed Up on Your 941 Employment Taxes: What’s Going to Happen to You and Your Business?

Owning a business can be deeply satisfying, but it comes with all kinds of tax annoyances — including payroll taxes. Not only do you need to accurately report on and withhold 941 employment taxes, but you are also responsible for ensuring that they reach the IRS on time and in full. Your failure to do […]

How Do You Know If You Owe the IRS 941 Taxes?

In an age of independent contractors and freelancers, it can be difficult for businesses to know whether workers should be classified as employees. This designation can make a world of difference, particularly in regards to tax obligations. Businesses with traditional employees need to withhold federal taxes — and report those withholdings on Form 941. Still […]

The Absolute Worst Things That Can Happen If You Screw Up Your IRS 941 Taxes

The IRS can sometimes be surprisingly forgiving of those who fail to file or pay taxes on time, particularly if they actively make arrangements for extensions or installment plans. This mercy does not always extend to those who struggle with unpaid or incorrect payroll taxes. The following are among the harshest repercussions you’ll face if […]

More True-Life 941 IRS Horror Stories

Our collection of IRS horror stories may have resonated with you, especially if you’ve been audited. Unfortunately, we only scratched the surface. Now, we’re back with several additional cautionary tales, this time outlining the perils of IRS Form 941: Publishing Company Payroll Taxes The IRS can be surprisingly forgiving when individual employees fail to file […]