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The IRS Form 941 E-filing Deadline for Q3 is
November 1, 2021

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Schedule B (Form 941)

Schedule B (Form 941)

TaxBandits helps to report Form Schedule B tax liability and semiweekly deposit schedule and transmit it directly to the IRS.

94x Online Signature PIN

94x Online Signature PIN

The IRS requires you to sign your form with an Online Signature PIN when filing your Form 941. Simply apply a FREE Online Signature PIN with TaxBandits.

Form 8453-EMP

Form 8453-EMP

If you don't have an Online Signature PIN, don't worry! You can always use Form 8453-EMP to e-sign your Form 941 through TaxBandits.

Bulk Upload

Bulk Upload

Make use of our bulk upload template and simplify the time taken in manually uploading your Form 941 data.

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What Information is Required to File Form 941 Online?

With these basic informations, you can fill out the Form 941 instructions for 2021 easily. Start e-filing your Form 941 with TaxBandits and Get Instant Approval from the IRS.

How to E-File Form 941 Online for 2021 Tax Year with TaxBandits?

Are you ready to file your Form 941? Get Started with TaxBandits & Get Instant approval from the IRS.

Frequently Asked Questions

What are the changes in Form 941 for the Q2 of 2021?

American Rescue Plan (ARP) was passed earlier this year. IRS has made changes to the Form 941 for Q2 2021 in response to it and released the final version for it. The lines related to COBRA Premium Assistance Credit are changed for this quarter. About 23 field changes are there in the revised Form 941 for Q2.

Visit, https://www.taxbandits.com/form-941/revised-form-941-for-q2-2021/ to learn more.

What are the changes in Form 941 for the First Quarter of 2021?

The IRS has released the new Form 941 for the first quarter of 2021. In the new form, we can see changes in Line 13b and Line 24. These lines were previously used to report deferred employers' and employees' share of social security tax. Both the lines are reserved for future use in the revised Form 941, and employers must use it for the first quarter of 2021.

Visit, https://www.taxbandits.com/form-941/irs-revised-form-941-for-2021/ to know more about Revised IRS Form 941 for 2021

What is Quarterly Federal Tax Form 941?

Form 941, Employer’s Quarterly Tax Return, is used to report employment taxes. If you own and operate a business with employees, you will need to
file IRS Form 941 quarterly. You, the employer, are responsible for withholding federal income tax, social security tax, and Medicare tax from each employee’s salary. This form is also used to calculate the employer's portion of Social Security and Medicare tax.

Click here to learn more about What is Form 941.

How to calculate the refundable and nonrefundable shares of the credits reported on Form 941?

Form 941 Worksheets are used to calculate the refundable and nonrefundable portion of the qualified family & sick leave and employee retention credits. For the Second Quarter of 2021, IRS has revised the 941 Worksheet 1 of Q1 2021 and made into 5 worksheets which are as follows:

  • Worksheet 1 - This is used to calculate the nonrefundable and refundable portion of credits for sick and family wages taken before April 1, 2021. This worksheet now has only 2 steps.
  • Worksheet 2 - It is to calculate the nonrefundable and refundable portions of employee retention credit on wages paid after March 31, 2021 and before July 1, 2021. This worksheet is applicable only for the Second Quarter of 2021. Visit https://www.taxbandits.com/form-941/worksheet-2-for-q2-2021/ to learn more.
  • Worksheet 3 - This worksheet containing 2 steps is used to calculate the nonrefundable and refundable portion of credits for sick and family wages taken after April 1, 2021.
  • Worksheet 4 - This is applicable only for the 3rd and 4th quarter of 2021 which is used to calculate the employee retention credit for the third and fourth quarter of 2021.
  • Worksheet 5 - Calculate the nonrefundable and refundable portion of COBRA premium assistance credit with this worksheet and complete the 2 steps.

When is Form 941 due?

Form 941 is generally due by the last day of the month following the end of the quarter. You’re required to file Form 941 for each quarter.

  • First-quarter (JAN, FEB, MAR) is due on April 30, 2021
  • Second-quarter (APR, MAY, JUN) on August 2, 2021
  • Third-quarter (JUL, AUG, SEP) on November 1, 2021
  • Fourth-quarter (OCT, NOV, DEC) on January 31, 2022

Visit https://www.taxbandits.com/form-941/form-941-due-date/ to know more about Form 941 Deadlines.

What are the penalties for not filing Form 941 on time?

Failure to file form 941 by the deadline will result in a 5% penalty on the tax return for each month the return is late. This penalty caps at 25%. The IRS will also heavily penalize you for late payment or not paying the full amount owed. You will be charged 2-15% of the unpaid tax determined by the number of days it remains unpaid. To learn more about Form 941 penalties for not filing & not paying the taxes.

How to Sign Form 941 when filing electronically?

The IRS requires an Online Signature PIN to complete Form 941 to ensure that the person filing has the proper authorization by the company or business. If you don’t possess 94x Online Signature PIN you can still complete 941 filings using Form 8453-EMP.

TaxBandits support Form 8453-EMP where you can e-sign it instantly when you are filing your Form 941 online. And if you don't have an Online Signature PIN, you can apply it for FREE using TaxBandits.

How to Claim Payroll Tax Credit for Increasing Research Activities?

TaxBandits will help you claim the R&D tax credit for your research expenses in a few simple steps. We will auto-populate the required information for
Form 8974 when you e-file Form 941 through TaxBandits. Once you review both forms, you can transmit the return directly to the IRS.

What are the COVID-19 changes in 2020 Form 941?

IRS released a new Form 941, Employer’s Quarterly Federal Tax Return for 2020, and updated instructions to reflect the effects of COVID-19.

The updated new form 941 addresses the economic impacts of COVID-19 by allowing qualifying employers to defer deposits on their payroll taxes, apply for Payment Protection Program (PPP) loans, obtain employment tax credits, and claim payments towards advance credits.

Employers will be required to use the 2020 Form 941 when they submit their 941 quarter filing to the IRS. The fourth-quarter Form 941 deadline is on February 01, 2021.

Click here learn more about 2020 Form 941 for COVID-19 changes.

More FAQ on Form 941

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