Employer’s Annual Tax Return Form 944 is used to report employment taxes specifically for small business owners to report annual federal income and FICA tax with the IRS. Small employers with $1,000/- or less in annual liability must file this return annually instead of quarterly in order to report annual social security, medicare, and withheld federal income tax.
The deadline for filing Form 944 for the 2017 tax year is
Note: If your tax deposits were made on time for 2017, you have until February 12, 2018 to file Form 944.
IRS Form 944 must be filed instead of Forms 941, 941-SS, or 941-PR in order to report the following amounts:
Failure to file IRS Form 944 by the deadline will result in a 5% penalty on tax owed for each month the return is late (this penalty caps at 25%). The IRS will also heavily penalize you for any late payment or for not paying the full amount owed. You will then be charged 2-15% of the unpaid tax which is determined by the number of days the amount remains unpaid.
If your annual liability for Social Security, Medicare, and withheld federal income tax is more than $1,000 and you are a Form 944 annual filer that must also file quarterly tax Form 941, 941-SS, or 941-PR, you must call the IRS between January 1, 2018 and April 2, 2018 or send a written request between January 1, 2018 and March 15, 2018.