Tag Archives: IRS Form 941

Resolving an IRS Form 941 Tax Issue: Do’s And Don’ts

You’ve diligently withheld taxes on behalf of your employees. Despite these efforts, you’ve received communication about your failure to file IRS Form 941 or pay the proper amount. Don’t panic — these issues might be easier to resolve than you anticipate. Keep these do’s and don’ts in mind as you proceed: Do: Determine If You […]

What Information Do You Need to Fill Out IRS Form 941?

As an employer, your many IRS responsibilities include not only withholding taxes on behalf of your employees, but also, reporting on those withholdings via Form 941. Filed on a quarterly basis, this essential document can initially feel overwhelming. You’ll find it far easier to handle if you begin the process prepared with the proper information, […]

Everything You Need to Know About a 941 Tax Lien

As an employer, you are accustomed to dealing with tax concerns. Many of these involve IRS Form 941, which is also known as the Employer’s Quarterly Federal Tax Return. Filed four times each year, this form calls for details on the number of people employed by your business, total wages paid to these workers, and […]

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 […]

Filling Out IRS Form 941: A Quick, Simple Guide

As an employer, you are required to withhold specific types of taxes from your employees’ paycheck. These taxes must be reported in detail via IRS Form 941, which is also referred to as the employer’s quarterly federal tax return. While this form may initially seem straightforward, it can ultimately prove rife with complications. Below, you’ll […]

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 […]

Take a Deep Breath — How to Handle Your Delinquent Payroll Taxes the Right Way

You’re ages behind on your payroll taxes and well aware of the harsh consequences that could result from your failure to pay up. Naturally, you’re freaking out. Panicking won’t make the problem go away, but it is possible to resolve your tax concerns if you take these simple steps: File Employment Tax Returns And Make […]

IRS Form 941 Balance Due? What Could Happen Next Year — The Good, The Bad, And The Ugly

Trust fund taxes are due, and it’s time to pay up. Your actions now could impact your business not only in the immediate future but in the long-term. Highlighted below are a few potential scenarios: The Good: You File And Pay On Time The best case scenario for IRS Form 941? You correctly file the […]

IRS Form 941: The Basics That Business Owners Need to Know

As a business owner, you’re responsible for withholding and reporting on payroll taxes. In most cases, reporting occurs on a quarterly basis. At the center of this stressful ordeal: IRS Form 941. Confused about the form and how to file? Read on to get a basic grasp of this critical document. What Is Form 941? […]