Form 941 Video Overview

How to Fill out Form 941

If you employ other people and are considered a business owner, you are probably required to file quarterly tax reports with the Internal Revenue Service (IRS). These reports detail how much money you withhold from your employees’ paychecks for Medicare, Social Security, federal and state taxes. Form 941 is used to report quarterly taxes.

Instructions

  1. Go to the IRS website to download and print out several copies of form 941 (see Resources). You need to file form 941 four times a year, so it is always a good idea to have extra copies on hand.
  2. Collect the payroll information you’ll need from your accountant. You will need to know the total wages you paid, the total tax deductions from your employees’ paychecks, as well as the sick pay you have paid out during the past three months. Enter this information on lines 2 through 7 on form 941.
  3. Have your employer identification number (EIN) available, as you will need to write it on each form 941 you send to the IRS throughout the year. This is a unique identifier for your business that has been assigned to you by the IRS.
  4. Fill in the bubble that corresponds to the appropriate quarter to avoid delays in processing your tax payment. First quarter taxes run from January to March, the second quarter is from April to June, the third quarter includes July, August and September, and the last quarter of the year encompasses October through December.
  5. Remember to fill out the payment coupon that is attached to the instruction sheet for form 941. Send the payment coupon along with your form 941 and tax check.
  6. Mail your tax payments on time. Each quarter’s taxes are due approximately 30 days after the quarter ends. In some years, these dates may land on a weekend or holiday, so verify exact due dates with the IRS.