How to E-file Form 941-X Online for 2021 with TaxBandits
Need to correct Form 941/941-SS?
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What Information is Required to File Form 941-X Online?
- 1. Employer Details: Name, EIN, and Address
2. Taxes and Deposits:
- i. Federal Income Taxes
- ii. Medicare and Social Security Taxes
- iii. Form 941 Worksheets
Businesses Trust these Amazing TaxBandits Features
Schedule B (Form 941)
Report corrections for Form 941 Schedule B, tax liability and semiweekly deposit schedule.
Save time by using our bulk upload template to import all your 941 data at once.
Access Form Copies
Print Forms 941-X from the Distribution Center in your TaxBandits account.
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Frequently Asked Questions
What’s new on the IRS Form 941-X?
IRS Form 941-X has changed based on the COVID‐19 employment tax credits that were introduced on Form 941.
- Corrections to amounts reported on Form 941 (lines 11d, 13e, 23, 24, 25, 26, 27, and 28) for the credit for qualified sick and family leave wages for leave taken after March 31, 2021, are reported on Form 941-X, lines 18b, 26b, 35, 36, 37, 38, 39, and 40, respectively.
- Corrections to amounts reported on Form 941(lines 11c, 13d, 21, and 22) for the employee retention credit are reported on Form 941-X, lines 18a, 26a, 30, and 31a, respectively.
- Corrections to amounts reported on Form 941, lines 11e, 11f, and 13f, for the new COBRA premium assistance credit are reported on Form 941-X, lines 18c, 18d, and 26c, respectively.
What are the Forms corrected using Form 941-X?
Form 941-X (Adjusted Employer's QUARTERLY Federal Tax Return or Claim for Refund) is used to correct errors on Form 941 and also on Form 941 SS, Employer's Quarterly Federal Tax Return (American Samoa, Guam, the Commonwealth of the Northern Mariana Islands, and the U.S. Virgin Islands). A Form 941-X must be filed separately for each amended Form 941.
What can I correct on my Form 941-X?
The following information can be corrected using 941-X Form.
- Wages, tips & other compensation
- Taxable Medicare & Social Security wages and tips
- Deferred amount of the employer & employee share of social security tax
- Qualified small business payroll tax credit
- Amounts reported on Form 941 for the credit for qualified sick and family leave wages
- Amounts reported on Form 941 for the COBRA premium assistance credit
When is the deadline for filing 941-X?
There is no specific deadline for filing Form 941-X, but you should file corrections as soon as you notice errors on your accepted forms. The due date for filing Form 941-X depends on when the error is discovered and if you underreported or overreported tax. For overreported taxes, file Form 941-X within 3 years of the date Form 941 was filed or 2 years from the date you paid the tax reported on Form 941. For underreported taxes, file Form 941-X within 3 years of the date Form 941 was filed.
Looking for other Payroll Tax 941 Forms?
Helpful Resource for Form 941
IRS Form 941 for 2021
Know about the IRS Form 941 to report the quarterly federal income & FICA taxes. Read through this article to learn more about the 941 tax Form.
Form 941 instructions
TaxBandits has provided the complete guide that contains line by line instructions to file form 941. Read this resource article and get to know about each line of your Form 941.
Form 941 Worksheets
IRS has made 5 worksheets for the credit calculation of sick & family leave and employee retention. Read through this article to learn more about the worksheets and their purposes.
What is IRS Form 941-X? Know about the purpose of the correction Form 941-X. Read the article to get a detailed view.
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