Frequently Asked Questions on Form 941 (SP) Filing
What is Form 941 SP?
Form 941 (SP) is the Spanish-language version of Form 941, the Employer's Quarterly Federal Tax Return. Employers in the United States use Form 941 to report their federal income taxes, Social Security, Medicare, and FICA taxes.
Form 941 (SP) serves the same purpose as Form 941 but is provided in Spanish. It includes all the necessary sections and instructions to be translated into Spanish, allowing employers to report their employment taxes accurately.
Who needs to file Form 941 (sp)?
Employers in the U.S. Territories and Puerto Rican have to report their Federal Income, Social Security, Medicare, and FICA taxes on Form 941 SP for 2024. However, if you are looking to report taxes for prior tax years, use Form 941 PR & Form 941 SS.
The IRS has announced that Form 941 PR & Form 941 SS will no longer be available for 2024.
What Information is Required to File 941 SP Online?
Employer Details
- Name, EIN, and Address
Employment Details
- Employee Count
- Employee Wages
Taxes and Deposits
- Federal Income Taxes
- Medicare and Social Security Taxes
- Deposit Made to the IRS
- Tax Liability for the Quarter
Signing Form 941
- Signing Authority Information
- Online Signature PIN or Form 8453-EMP
When is Form 941 SP due?
The due date to file Form 941 SP for the 2025 Tax Year is:
- Deadline to file Form 941 SP for 1st Quarter 2025 -April 30, 2025
- Deadline to file Form 941 SP for 2nd Quarter 2025 -July 31, 2025
- Deadline to file Form 941 SP for 3rd Quarter 2025 -October 31, 2025
- Deadline to file Form 941 SP for 4th Quarter 2025 -January 31, 2026
What are the Penalties for not filing Form 941 SP?
Employers who file Form 941 SP late will be penalized based on the number of days and a specific condition.
There are two types of penalties for not filing Form 941 SP with the IRS: FTF (failure to file) and FTP (failure to pay).
FTF (failure-to-file):
If you fail to file a return when required, there is an FTF Penalty of 5%. The maximum penalty is generally 25% of the tax due.
FTP (failure-to-pay):
Also, for each whole or part month, the tax is paid late, there is a failure-to-pay (FTP) penalty of 0.5% per month of the tax amount. For individual filers only, the FTP penalty is reduced from 0.5% per month to 0.25% per month if an installment agreement is in effect.
Penalty for not depositing the tax due on time:
| Penalty % | Charged for |
|---|---|
| 2% | Deposits made 1 to 5 days late |
| 5% | Deposits made 6 to 15 days late |
| 10% |
Deposits made 16 or more days late but before 10 days from the date of the first notice the IRS sent asking for the tax due. These amounts should have been deposited but instead paid directly to the IRS or paid with your tax return. However, see Payment with return, earlier in this section, for exceptions |
| 15% | Amounts still unpaid more than 10 days after the date of the first notice the IRS sent asking for the tax due or the day on which you received notice and demand for immediate payment, whichever is earlier. |
TaxBandits Supports Filing of Other 941 Forms
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