Form 941 Employer’s Quarterly Federal Tax Return (2011)
IRS Form 941
IRS Form 941 is the Employer’s Quarterly Federal Tax Return
which is typically used by small business owners. They use Form 941 to report
any income taxes that are withheld from Social Security, Medicare, wages, and
tips. As Form 941’s name and Form 941 instructions indicate, the form must be
filed on a quarterly basis. If a small business owner does not follow these
Form 941 instructions, he or she could experience assessed interest and
instructions: Who must file
Employers need to use Form 941 in order to report wages
paid, income taxes withheld, tips, employer’s Social Security and Medicare
taxes paid, Social Security and Medicare taxes paid by employees, Social
Security and Medicare adjustments because of sick pay and fractions of cents,
advanced earned income tax credit, and COBRA premium assistance payment
Almost all employers need to fill out this form except seasonal
employers need and employers of employees in a household as well as farm employees.
instructions: Filling out the form
The first section only requires basic information such as an
Employer Identification Number, name, business name, and business address. The
employer also needs to check the right box to show what quarter the form is
As described by Form 941 instructions, Part 1 is used to put
the information needed for the current quarter. Part 2 discusses that tax
liability in the three months of the discussed quarter on a month to month
basis. Make sure to include the which state the tax payment deposits are being
made to as well as the amounts on the given lines unless line 10 does not
According to Form 941 instructions, Part 3 requires information
about the business as applicable. Part 4 requires the employer to choose
whether the Internal Revenue Service can share the information provided on this
return with any other third parties. Filling out Part 4 gives authorization to
do so. Part 5 is the section for a signature and date.
After filling out the form, next thing to fill out according
to Form 941 instructions is the payment voucher. Here an Employee
Identification Number should be filled out and the correct check box should be
marked for the quarter in question. This will also require the payment amount
as well as the address of the business. The voucher should be detached from the
form and included with Form 941.
The two can then be sent out to the appropriate address.
Certain states will require that the forms be sent to the Department of
Treasury in Cincinnati, Ohio. This includes but is not limited to Connecticut,
Michigan, New Jersey, New York, and Virginia.
Other states such as Alaska, California, Florida and Texas require the
forms be sent to the Department of treasury in Ogden, Utah or to the IRS’s P.O
Box in Atlanta, Georgia.