Tag Archives: Form 941

No Money to Pay Your 941 Employment Taxes? How to Deal

Payroll taxes are a pesky reality of life as a business owner. Not only do you need to report on any taxes withheld from employees’ paychecks, you’re also responsible for getting these taxes to their final destination. Your failure to deposit withheld taxes on time could prompt harsh consequences from the IRS — consequences that […]

Penalties for Completing IRS Form 941 Late (Or Not At All)

As a business owner, you may struggle to keep up with the myriad of obligations you hold to the IRS. From forms to withholdings, and sometimes, fines, it’s a lot to manage. IRS Form 941, in particular, tends to fall through the cracks. This quarterly form outlines taxes withheld on employees’ behalf, but all too […]

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 […]