Get IRS 941 2004

Employers use Form 941 to: Report income taxes, social security tax, or Medicare tax withheld from employee's paychecks. Pay the employer's portion of social security or Medicare tax.

If you operate a business and have employees working for you, then you likely need to file IRS Form 941, Employer's Quarterly Federal Tax Return, four times per year. As an employer, you are responsible for withholding federal income tax and other payroll taxes from each employee's paycheck and remitting it to the IRS.

Form 941. ... This form is also known as the Employer's Quarterly Tax Form and is used by employers to report the federal withholdings from most types of employees. It notifies the IRS of a number of important figures, like the employment taxes taken from employee pay and the amount owed to the IRS.

Federal income tax you withheld. Both the employer and the employee share of social security and Medicare taxes. ... After you file your first Form 941, you must file a return for each quarter, even if you have no taxes to report, unless you filed a final return or one of the exceptions listed next applies.

By April 30, July 31, October 31, and January 31 (for the fourth quarter of the previous calendar year) File Form 941, Employer's QUARTERLY Federal Tax Return. If you timely deposited all taxes when due, you have 10 additional calendar days to file the return.

For each month or partial month you are late filing Form 941, the IRS imposes a 5 percent penalty, with a maximum penalty of 25 percent. This penalty is a percentage of the unpaid tax due with the return. ... The IRS might waive late filing penalties if you have reasonable cause for filing late.

Both forms go to the IRS. Form 940 is for reporting and paying unemployment taxes annually. Form 941 is for reporting payroll taxes quarterly. The payroll taxes included in this report are for federal income tax withholding and for withholding of FICA taxes for Social Security and Medicare.

Form 940, Employer's Annual Federal Unemployment (FUTA) Tax Return, is a form employers file with the IRS to report their yearly FUTA tax liability. You must file a 940 tax form if either of the following is true: You paid wages of at least $1,500 to any employee during the standard calendar year.

Updated January 01, 2019. IRS Form 940 is the federal unemployment tax annual report form. This form is used to report and pay unemployment taxes to the IRS. If you have employees, you must report and pay unemployment taxes.

For 2019, the FUTA tax rate is 6.0%. The tax applies to the first $7,000 you pay to each employee as wages during the year. The $7,000 is the federal wage base.

Form 941. ... This form is also known as the Employer's Quarterly Tax Form and is used by employers to report the federal withholdings from most types of employees. It notifies the IRS of a number of important figures, like the employment taxes taken from employee pay and the amount owed to the IRS.

For most churches, this exemption had to be filed before October 31, 1984. The exemption does not excuse the church from income tax withholding, filing Form 941, or issuing Forms W-2 to church employees.

More In Charities and Nonprofits A tax-exempt organization must file Form 941 quarterly. Some small employers are eligible to file an annual Form 944 instead of quarterly returns. See the instructions to Form 944 for more information.

Form 940, Employer's Annual Federal Unemployment (FUTA) Tax Return, is a form employers file with the IRS to report their yearly FUTA tax liability. You must file a 940 tax form if either of the following is true: You paid wages of at least $1,500 to any employee during the standard calendar year.

Most tax-exempt organizations and nonexempt charitable trusts have to file some type of Form 990 informational return. However, there are three general exceptions: Some religious institutions. Some religious institutions, such as churches, aren't required to file Form 990.