Form 941 Due Dates for 2024
Form 941 is due by the last day of the month following the end of the quarter.
Written by Stephanie Glanville
Stephanie Glanville is the Marketing Manager of TaxBandits. She has several years of experience with IRS tax forms and the funtionality of TaxBandits. With a passion to help business owners better understand their IRS tax forms and filing, she aims to create content that is valuable and informative.
Form 941 is filed quarterly with due dates of April 30, July 31, October 31, and January 31. If the 941 due date falls on a weekend or legal holiday, then the next business day will be the filing deadline for your return
Employers are responsible for filing Form 941 Quarterly Federal Tax Return to report withholding, Social Security and Medicare (FICA) taxes before the deadline to avoid penalties. Form 941 must be filed even if you have no taxes to report or no employees for the particular quarter. In such cases, you are required to file a zero return for the quarter.
Form 941 Deadline & Depost Due Dates for 2024
1. When is the deadline to File Form 941 for the 2024 tax year?
The deadline to file Form 941 for 2024 will be the end of the month following the close of the quarter:
| Quarter | Reporting Period | 941 Due Date |
|---|---|---|
| Quarter 1 | Jan, Feb, and Mar | April 30, 2024 |
| Quarter 2 | Apr, May, and Jun | July 31, 2024 |
| Quarter 3 | Jul, Aug, and Sep |
October 31, 2024 E-File Now |
| Quarter 4 | Oct, Nov, and Dec |
January 31, 2025 |
Note: If your taxes have been deposited on time and in full, then may have 10 additional calendar days to file the return. E-file Form 941 Now
For example, you must generally report wages you pay during the first quarter - which is January through March - by April 30. If you made timely deposits in full payment of your taxes for the quarter, you may file by the 10th day of the second month that follows the end of the quarter.
For example, you may file Form 941 online by May 10 if you made timely deposits in full payment of your taxes for the
first quarter.
2. Form 941 Tax Deposit Due Dates for 2024
There are two deposit schedules for taxes reported on Form 941: monthly and semiweekly. Employers are required to determine your deposit schedule before the beginning of the calendar year. This is determined by the total tax liability reported during the specified lookback period.
1. What is the due date for monthly 941 deposits?
If you are a monthly depositor, you must deposit taxes for a given month by the 15th day of the following month.
- If you pay employees on April 30, you must deposit payroll taxes by May 15.
- If you pay employees on May 1 for work done in April, you must deposit payroll taxes by June 15.
| Tax Deposit Due Date | Payroll Tax Due |
|---|---|
| February 15, 2024 | Monthly deposit of payroll and federal income taxes. |
| March 15, 2024 | Monthly deposit of payroll and federal income taxes. |
| April 15, 2024 | Monthly deposit of payroll and federal income taxes. |
| August 15, 2024 | Monthly deposit of payroll and federal income taxes. |
| June 17, 2024 | Monthly deposit of payroll and federal income taxes. |
| July 15, 2024 | Monthly deposit of payroll and federal income taxes. |
| August 15, 2024 | Monthly deposit of payroll and federal income taxes. |
| September 16, 2024 | Monthly deposit of payroll and federal income taxes. |
| October 15, 2024 | Monthly deposit of payroll and federal income taxes. |
| November 15, 2024 | Monthly deposit of payroll and federal income taxes. |
| December 16, 2024 | Monthly deposit of payroll and federal income taxes. |
| January 15, 2025 | Monthly deposit of payroll and federal income taxes. |
2. What is the semi-weekly deposit rule for 941?
If you follow the semiweekly deposit schedule, your deposit due date depends on the day of the week you pay
your employees:
- If you pay wages on Wednesday, Thursday, or Friday, you must deposit taxes by the following Wednesday.
- If you pay wages on Saturday, Sunday, Monday, or Tuesday, you must deposit taxes by the following Friday.
If you are a semiweekly schedule depositor, you are required to attach 941 Schedule B along with Form 941.
3. What is the next-day deposit rule for 941?
If you accumulate $100,000 or more in taxes on any day during a monthly or semiweekly deposit period, you must deposit the tax by the next business day.
Quick Info:
According to the IRS, the lookback period is the time duration used to determine an employer’s tax liability. For example, the lookback period for the year 2024 is from July 1, 2022, to June 30, 2023.
3. Methods to file Form 941?
You can file form 941 by electronically or paper:
IRS recommends e-filing of Tax Form 941 for quick processing
If you choose electronic filing,
Choose the right authorized e-file provider to easily complete the form. E-file your form 941 and get instant filing status and updates from the IRS.
TaxBandits is an IRS authorized e-file provider of Tax Form 941, we provide an easy-to-use platform to file your 941 with the IRS. You can complete your filing in less than 5 minutes and the cost to file your return with the IRS is
only $5.95.
Get your Information ready before the deadline!
Use our Free Payroll Tax Calculator to get the required Information that is to be reported on Form 941. The calculator results include Federal Income Tax (As per Employee W-4 Information), Social Security, and Medicare taxes.
Visit https://www.taxbandits.com/payroll-forms/e-file-form-941-online/ to learn more about how to efile
form 941 online?
If you choose to paper filing,
Returns sent by mail must be addressed correctly, have sufficient postage, and be postmarked by the U.S. Postal Service on (or before) the deadline. See the previous section for deadline information. Send returns via the U.S. Postal Service to one of these addresses, https://www.irs.gov/filing/where-to-file-your-taxes-for-form-941.
Visit www.taxbandits.com/form-941/941-mailing-address/ to learn more about the 941 mailing addresses.
4. Are there any penalties for not paying taxes within the 941 due date?
Yes, employers who fail to deposit withheld taxes by the 941 deposit due date will be imposed with a penalty based on the time how late the deposit is made.
| No. of Days the payment delayed | Penalty Rate |
|---|---|
| 1 – 5 calendar days late | 2% of the unpaid amount |
| 6 – 15 calendar days late | 5% of the unpaid amount |
| Over 15 calendar days late | 10% of the unpaid amount |
| Over 10 calendar days after the first notice | 15% of the unpaid amount |
Visit https://www.taxbandits.com/payroll-forms/form-941-penalty/ to find the penalty rates for late filing and late payment of taxes.
Note: If your taxes have been deposited on time and in full, then may have 10 additional calendar days to file the return. E-file Form 941 Now
For example, you must generally report wages you pay during the first quarter - which is January through March - by April 30. If you made timely deposits in full payment of your taxes for the quarter, you may file by the 10th day of the second month that follows the end of the quarter.
For example, you may file Form 941 online by May 10 if you made timely deposits in full payment of your taxes for the
first quarter.
5. How to avoid Form 941 Late Filing Penalties?
You can avoid penalties and interest if you do all of the following:
- Deposit or pay your taxes on or before the deadline, using EFTPS.
- File your fully completed Form 941 on time.
- Report your tax liability accurately.
- Submit valid checks for tax payments.
Note: Pay your federal taxes with TaxBandits EFTPS Payment solution.
6. Meet your 941 deadline with TaxBandits
With TaxBandits you can e-file Form 941 with automatic tax calculations, error checks using the IRS Business Rules, built-in worksheets, 941 Schedule B, and 8453 EMP. Complete and transmit accurate forms in minutes by following three simple steps!
-
Step 1: Create a free TaxBandits account!
-
Step 2: Choose "Form 941" and enter the details.
-
Step 3: Review and Transmit to the IRS.
About the Author
Stephanie Glanville is the Marketing Manager of TaxBandits. She has several years of experience with IRS tax forms and the funtionality of TaxBandits. With a passion to help business owners better understand their IRS tax forms and filing, she aims to create content that is valuable and informative.
