Instructions for Form 941 (Rev. March 2024)

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Instructions for Form 941

(Rev. March 2024)

Employer's QUARTERLY Federal Tax Return

Department of the Treasury

Internal Revenue Service

Section references are to the Internal Revenue Code

unless otherwise noted.

Contents Page

Reminders ................................ 1

General Instructions: ......................... 4

Purpose of Form 941 ..................... 4

Who Must File Form 941? .................. 4

When Must You File? ..................... 5

How Should You Complete Form 941? ......... 6

Where Should You File? ................... 7

Depositing Your Taxes ..................... 7

What About Penalties and Interest? ........... 8

Adjustment of Tax on Tips .................. 8

Specific Instructions: ......................... 8

Part 1: Answer These Questions for This

Quarter ............................. 8

Part 2: Tell Us About Your Deposit Schedule

and Tax Liability for This Quarter .......... 12

Part 3: Tell Us About Your Business .......... 13

Part 4: May We Speak With Your Third-Party

Designee? .......................... 13

Part 5: Sign Here (Approved Roles) .......... 14

How To Get Forms, Instructions, and Publications ... 14

Future Developments

For the latest information about developments related to

Form 941 and its instructions, such as legislation enacted

after they were published, go to

IRS.gov/Form941.

What's New

Social security and Medicare taxes for 2024. The

social security tax rate is 6.2% each for the employee and

employer. The social security wage base limit is $168,600.

The Medicare tax rate is 1.45% each for the employee

and employer, unchanged from 2023. There is no wage

base limit for Medicare tax.

Social security and Medicare taxes apply to the wages

of household workers you pay $2,700 or more in cash

wages in 2024. Social security and Medicare taxes apply

to election workers who are paid $2,300 or more in cash

or an equivalent form of compensation in 2024.

The COVID-19 related credit for qualified sick and

family leave wages is limited to leave taken after

March 31, 2020, and before October 1, 2021, and may

no longer be claimed on Form 941. Generally, the

credit for qualified sick and family leave wages, as

enacted under the Families First Coronavirus Response

Act (FFCRA) and amended and extended by the

COVID-related Tax Relief Act of 2020, for leave taken after

March 31, 2020, and before April 1, 2021, and the credit

for qualified sick and family leave wages under sections

3131, 3132, and 3133 of the Internal Revenue Code, as

enacted under the American Rescue Plan Act of 2021 (the

ARP), for leave taken after March 31, 2021, and before

October 1, 2021, have expired. However, employers that

pay qualified sick and family leave wages in 2024 for leave

taken after March 31, 2020, and before October 1, 2021,

are eligible to claim a credit for qualified sick and family

leave wages in 2024. Effective for tax periods beginning

after December 31, 2023, the lines used to claim the

credit for qualified sick and family leave wages have been

removed from Form 941 because it would be extremely

rare for an employer to pay wages in 2024 for qualified

sick and family leave taken after March 31, 2020, and

before October 1, 2021. Instead, if you're eligible to claim

the credit for qualified sick and family leave wages

because you paid the wages in 2024 for an earlier

applicable leave period, file Form 941-X, Adjusted

Employer's QUARTERLY Federal Tax Return or Claim for

Refund, after filing Form 941, to claim the credit for

qualified sick and family leave wages paid in 2024. Filing a

Form 941-X before filing a Form 941 for the quarter may

result in errors or delays in processing your Form 941-X.

Reminders

Use the March 2024 revision of Form 941 to report

taxes for the first quarter of 2024; don't use an

earlier revision to report taxes for 2024. At this

time, the IRS expects the March 2024 revision of Form

941 and these instructions to also be used for the second,

third, and fourth quarters of 2024. If changes in law require

additional changes to Form 941, the form and/or these

instructions may be revised. Prior revisions of Form 941

are available at

IRS.gov/Form941 (select the link for “All

Form 941 Revisions” under “Other Items You May Find

Useful”).

Unless otherwise noted, references throughout

these instructions to Form W-2 include Forms

W-2AS, W-2CM, W-2GU, W-2VI, and 499R-2/

W-2PR; references to Form W-2c include Form

499R-2c/W-2cPR; references to Form W-3 include Form

W-3SS and Form W-3 (PR); and references to Form W-3c

include Form W-3C (PR).

Qualified small business payroll tax credit for in-

creasing research activities. For tax years beginning

before January 1, 2023, a qualified small business may

elect to claim up to $250,000 of its credit for increasing

research activities as a payroll tax credit. The Inflation

Reduction Act of 2022 (the IRA) increases the election

amount to $500,000 for tax years beginning after

December 31, 2022. The payroll tax credit election must

be made on or before the due date of the originally filed

income tax return (including extensions). The portion of

the credit used against payroll taxes is allowed in the first

calendar quarter beginning after the date that the qualified

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small business filed its income tax return. The election

and determination of the credit amount that will be used

against the employer’s payroll taxes are made on Form

6765, Credit for Increasing Research Activities. The

amount from Form 6765, line 44, must then be reported

on Form 8974, Qualified Small Business Payroll Tax Credit

for Increasing Research Activities.

Starting in the first quarter of 2023, the payroll tax credit

is first used to reduce the employer share of social

security tax up to $250,000 per quarter and any remaining

credit reduces the employer share of Medicare tax for the

quarter. Any remaining credit, after reducing the employer

share of social security tax and the employer share of

Medicare tax, is then carried forward to the next quarter.

Form 8974 is used to determine the amount of the credit

that can be used in the current quarter. The amount from

Form 8974, line 12 or, if applicable, line 17, is reported on

line 11. For more information about the payroll tax credit,

see

IRS.gov/ResearchPayrollTC. Also see Adjusting tax

liability for the qualified small business payroll tax credit for

increasing research activities (line 11), later.

Forms 941-SS and 941-PR discontinued after 2023.

Form 941-SS, Employer’s QUARTERLY Federal Tax

Return—American Samoa, Guam, the Commonwealth of

the Northern Mariana Islands, and the U.S. Virgin Islands;

and Form 941-PR, Planilla para la Declaración Federal

TRIMESTRAL del Patrono, were discontinued after the

fourth quarter of 2023. Instead, employers in the U.S.

territories file Form 941 or, if you prefer your form and

instructions in Spanish, you can file new Form 941 (sp).

Pubs. 51, 80, and 179 discontinued after 2023. Pub.

51, Agricultural Employer’s Tax Guide; Pub. 80, Federal

Tax Guide for Employers in the U.S. Virgin Islands, Guam,

American Samoa, and the Commonwealth of the Northern

Mariana Islands; and Pub. 179, Guía Contributiva Federal

para Patronos Puertorriqueños, were discontinued for tax

years beginning after December 31, 2023. Instead,

information specific to agricultural employers and

employers in the U.S. territories will be included in Pub.

15, Employer's Tax Guide. For tax year 2024, there is a

new Pub. 15 (sp) that is a Spanish-language version of

Pub. 15.

Forms in Spanish. Many forms and instructions

discussed in these instructions have Spanish-language

versions available for employers and employees. Some

examples include Form 941 (sp), Form 944 (sp), Form

SS-4 (sp), Form W-4 (sp), and Form W-9 (sp). Although

these instructions don't reference Spanish-language

forms and instructions in each instance that one is

available, you can see Pub. 15 (sp) and go to IRS.gov to

determine if a Spanish-language version is available.

Payroll tax credit for certain tax-exempt organiza-

tions affected by qualified disasters. Section 303(d) of

the Taxpayer Certainty and Disaster Tax Relief Act of 2020

allows for a payroll tax credit for certain tax-exempt

organizations affected by certain qualified disasters not

related to COVID-19. This credit is claimed on Form

5884-D (not on Form 941). Form 5884-D is filed after the

Form 941 for the quarter for which the credit is being

claimed has been filed. For more information about this

credit, go to

IRS.gov/Form5884D.

2024 withholding tables.

The federal income tax

withholding tables are included in Pub. 15-T, Federal

Income Tax Withholding Methods.

Certification program for professional employer or-

ganizations (PEOs). The Stephen Beck, Jr., ABLE Act

of 2014 required the IRS to establish a voluntary

certification program for PEOs. PEOs handle various

payroll administration and tax reporting responsibilities for

their business clients and are typically paid a fee based on

payroll costs. To become and remain certified under the

certification program, certified professional employer

organizations (CPEOs) must meet various requirements

described in sections 3511 and 7705 and related

published guidance. Certification as a CPEO may affect

the employment tax liabilities of both the CPEO and its

customers. A CPEO is generally treated for employment

tax purposes as the employer of any individual who

performs services for a customer of the CPEO and is

covered by a contract described in section 7705(e)(2)

between the CPEO and the customer (CPEO contract),

but only for wages and other compensation paid to the

individual by the CPEO. To become a CPEO, the

organization must apply through the IRS Online

Registration System. For more information or to apply to

become a CPEO, go to

IRS.gov/CPEO.

CPEOs must generally file Form 941 and Schedule R

(Form 941), Allocation Schedule for Aggregate Form 941

Filers, electronically. For more information about a CPEO’s

requirement to file electronically, see Rev. Proc. 2023-18,

2023-13 I.R.B. 605, available at

IRS.gov/irb/

2023-13_IRB#REV-PROC-2023-18.

Outsourcing payroll duties. Generally, as an employer,

you're responsible to ensure that tax returns are filed and

deposits and payments are made, even if you contract

with a third party to perform these acts. You remain

responsible if the third party fails to perform any required

action. Before you choose to outsource any of your payroll

and related tax duties (that is, withholding, reporting, and

paying over social security, Medicare, FUTA, and income

taxes) to a third-party payer, such as a payroll service

provider or reporting agent, go to

IRS.gov/

OutsourcingPayrollDuties for helpful information on this

topic. If a CPEO pays wages and other compensation to

an individual performing services for you, and the services

are covered by a CPEO contract, then the CPEO is

generally treated for employment tax purposes as the

employer, but only for wages and other compensation

paid to the individual by the CPEO. However, with respect

to certain employees covered by a CPEO contract, you

may also be treated as an employer of the employees

and, consequently, may also be liable for federal

employment taxes imposed on wages and other

compensation paid by the CPEO to such employees. For

more information on the different types of third-party payer

arrangements, see section 16 of Pub. 15.

Aggregate Form 941 filers. Approved section 3504

agents and CPEOs must complete and file Schedule R

(Form 941) when filing an aggregate Form 941. Aggregate

Forms 941 are filed by agents approved by the IRS under

section 3504. To request approval to act as an agent for

an employer, the agent files Form 2678 with the IRS

Instructions for Form 941 (Rev. 3-2024)

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unless you're a state or local government agency acting

as an agent under the special procedures provided in Rev.

Proc. 2013-39, 2013-52 I.R.B. 830, available at

IRS.gov/irb/2013-52_IRB#RP-2013-39. Aggregate Forms

941 are also filed by CPEOs approved by the IRS under

section 7705. To become a CPEO, the organization must

apply through the IRS Online Registration System at

IRS.gov/CPEO. CPEOs file Form 8973, Certified

Professional Employer Organization/Customer Reporting

Agreement, to notify the IRS that they started or ended a

service contract with a customer. CPEOs must generally

file Form 941 and Schedule R (Form 941) electronically.

For more information about a CPEO’s requirement to file

electronically, see Rev. Proc. 2023-18.

Other third-party payers that file aggregate Forms 941,

such as non-certified PEOs, must complete and file

Schedule R (Form 941) if they have clients that are

claiming the qualified small business payroll tax credit for

increasing research activities.

If both an employer and a section 3504 authorized

agent (or CPEO or other third-party payer) paid

wages to an employee during a quarter, both the

employer and the section 3504 authorized agent (or

CPEO or other third-party payer, if applicable) should file

Form 941 reporting the wages each entity paid to the

employee during the applicable quarter and issue Forms

W-2 reporting the wages each entity paid to the employee

during the year.

Work opportunity tax credit for qualified tax-exempt

organizations hiring qualified veterans. Qualified

tax-exempt organizations that hire eligible unemployed

veterans may be able to claim the work opportunity tax

credit against their payroll tax liability using Form 5884-C.

For more information, go to

IRS.gov/WOTC.

Correcting a previously filed Form 941. If you discover

an error on a previously filed Form 941, or if you otherwise

need to amend a previously filed Form 941, make the

correction using Form 941-X. Form 941-X is filed

separately from Form 941. For more information, see the

Instructions for Form 941-X, section 13 of Pub. 15, or go to

IRS.gov/CorrectingEmploymentTaxes.

Federal tax deposits must be made by electronic

funds transfer (EFT). You must use EFT to make all

federal tax deposits. Generally, an EFT is made using the

Electronic Federal Tax Payment System (EFTPS). If you

don't want to use EFTPS, you can arrange for your tax

professional, financial institution, payroll service, or other

trusted third party to make electronic deposits on your

behalf. Also, you may arrange for your financial institution

to initiate a same-day wire payment on your behalf.

EFTPS is a free service provided by the Department of the

Treasury. Services provided by your tax professional,

financial institution, payroll service, or other third party

may have a fee.

For more information on making federal tax deposits,

see section 11 of Pub. 15. To get more information about

EFTPS or to enroll in EFTPS, go to EFTPS.gov or call one

of the following numbers.

•

800-555-4477.

•

800-244-4829 (Spanish).

•

303-967-5916 (toll call).

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To contact EFTPS using Telecommunications Relay

Services (TRS) for people who are deaf, hard of hearing,

or have a speech disability, dial 711 and then provide the

TRS assistant the 800-555-4477 number above or

800-733-4829. Additional information about EFTPS is also

available in Pub. 966.

For an EFTPS deposit to be on time, you must

submit the deposit by 8 p.m. Eastern time the day

before the date the deposit is due.

Same-day wire payment option. If you fail to submit a

deposit transaction on EFTPS by 8 p.m. Eastern time the

day before the date a deposit is due, you can still make

your deposit on time by using the Federal Tax Collection

Service (FTCS) to make a same-day wire payment. To use

the same-day wire payment method, you will need to

make arrangements with your financial institution ahead of

time. Please check with your financial institution regarding

availability, deadlines, and costs. Your financial institution

may charge you a fee for payments made this way. To

learn more about the information you will need to give your

financial institution to make a same-day wire payment, go

IRS.gov/SameDayWire.

Timeliness of federal tax deposits. If a deposit is

required to be made on a day that isn't a business day, the

deposit is considered timely if it is made by the close of

the next business day. A business day is any day other

than a Saturday, Sunday, or legal holiday. The term “legal

holiday” for deposit purposes includes only those legal

holidays in the District of Columbia. Legal holidays in the

District of Columbia are provided in section 11 of Pub. 15.

Electronic filing and payment. Businesses can enjoy

the benefits of filing tax returns and paying their federal

taxes electronically. Whether you rely on a tax

professional or handle your own taxes, the IRS offers you

convenient and secure programs to make filing and paying

easier. Spend less time worrying about taxes and more

time running your business. Use e-file and EFTPS to your

benefit.

•

For e-file, go to IRS.gov/EmploymentEfile for additional

information. A fee may be charged to file electronically.

•

For EFTPS, go to EFTPS.gov or call one of the numbers

provided under Federal tax deposits must be made by

electronic funds transfer (EFT), earlier.

•

For electronic filing of Forms W-2, Wage and Tax

Statement, go to SSA.gov/employer. You may be required

to file Forms W-2 electronically. For details, see the

General Instructions for Forms W-2 and W-3. The Social

Security Administration's Business Services Online (BSO)

is an independent program from the Government of

Puerto Rico electronic filing system. Employers in Puerto

Rico must go to

Hacienda.gobierno.pr for additional

information.

If you’re filing your tax return or paying your federal

taxes electronically, a valid employer identification

number (EIN) is required at the time the return is

filed or the payment is made. If a valid EIN isn't provided,

the return or payment won't be processed. This may result

in penalties. See

Employer identification number (EIN),

later, for information about applying for an EIN.

Electronic funds withdrawal (EFW). If you file Form

941 electronically, you can e-file and use EFW to pay the

CAUTION

Instructions for Form 941 (Rev. 3-2024)

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balance due in a single step using tax preparation

software or through a tax professional. However, don't use

EFW to make federal tax deposits. For more information

on paying your taxes using EFW, go to IRS.gov/EFW.

Credit or debit card payments. You can pay the

balance due shown on Form 941 by credit or debit card.

Your payment will be processed by a payment processor

who will charge a processing fee. Don't use a credit or

debit card to make federal tax deposits. For more

information on paying your taxes with a credit or debit

card, go to

IRS.gov/PayByCard.

Online payment agreement. You may be eligible to

apply for an installment agreement online if you can't pay

the full amount of tax you owe when you file your return.

For more information, see What if you can't pay in full,

later.

Paid preparers. If you use a paid preparer to complete

Form 941, the paid preparer must complete and sign the

paid preparer's section of the form.

Where can you get telephone help? For answers to

your questions about completing Form 941 or tax deposit

rules, you can call the IRS at 800-829-4933 or

800-829-4059 (TDD/TTY for persons who are deaf, hard

of hearing, or have a speech disability), Monday–Friday

from 7:00 a.m. to 7:00 p.m. local time (Alaska and Hawaii

follow Pacific time).

Photographs of missing children. The IRS is a proud

partner with the National Center for Missing & Exploited

Children® (NCMEC). Photographs of missing children

selected by the Center may appear in instructions on

pages that would otherwise be blank. You can help bring

these children home by looking at the photographs and

calling 1-800-THE-LOST (1-800-843-5678) if you

recognize a child.

General Instructions:

Purpose of Form 941

These instructions give you some background information

about Form 941. They tell you who must file Form 941,

how to complete it line by line, and when and where to file

it.

If you want more in-depth information about payroll tax

topics relating to Form 941, see Pub. 15 or go to IRS.gov/

EmploymentTaxes.

References to federal income tax withholding

don't apply to employers in American Samoa,

Guam, the Commonwealth of the Northern

Mariana Islands (CNMI), the U.S. Virgin Islands (USVI),

and Puerto Rico, unless you have employees who are

subject to U.S. income tax withholding. Contact your local

tax department for information about income tax

withholding.

Federal law requires you, as an employer, to withhold

certain taxes from your employees' pay. Each time you

pay wages, you must withhold—or take out of your

employees' pay—certain amounts for federal income tax,

social security tax, and Medicare tax. You must also

withhold Additional Medicare Tax from wages you pay to

CAUTION

an employee in excess of $200,000 in a calendar year.

Under the withholding system, taxes withheld from your

employees are credited to your employees in payment of

their tax liabilities.

Federal law also requires you to pay any liability for the

employer share of social security and Medicare taxes.

This share of social security and Medicare taxes isn't

withheld from employees.

Who Must File Form 941?

If you pay wages subject to federal income tax withholding

or social security and Medicare taxes, you must file Form

941 quarterly to report the following amounts.

•

Wages you’ve paid.

•

Tips your employees reported to you.

•

Federal income tax you withheld.

•

Both the employer and the employee share of social

security and Medicare taxes.

•

Additional Medicare Tax withheld from employees.

•

Current quarter's adjustments to social security and

Medicare taxes for fractions of cents, sick pay, tips, and

group-term life insurance.

•

Qualified small business payroll tax credit for increasing

research activities.

Don't use Form 941 to report backup withholding or

income tax withholding on nonpayroll payments such as

pensions, annuities, and gambling winnings. Report these

types of withholding on Form 945, Annual Return of

Withheld Federal Income Tax. Also, don't use Form 941 to

report unemployment taxes. Report unemployment taxes

on Form 940, Employer's Annual Federal Unemployment

(FUTA) Tax Return.

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.

Exceptions

Special rules apply to some employers.

•

If you received notification to file Form 944, Employer's

ANNUAL Federal Tax Return, you must file Form 944

annually; don't file Form 941 quarterly.

•

Seasonal employers don't have to file a Form 941 for

quarters in which they have no tax liability because they

have paid no wages. To tell the IRS that you won't file a

return for one or more quarters during the year, check the

box on line 18 every quarter you file Form 941. See

section 12 of Pub. 15 for more information.

•

Employers of household employees don't usually file

Form 941. See Pub. 926 and Schedule H (Form 1040) for

more information.

•

Employers of farm employees don't file Form 941 for

wages paid for agricultural labor. See Form 943 and Pub.

15 for more information.

If none of these exceptions apply and you haven't

filed a final return, you must file Form 941 each

quarter even if you didn't pay wages during the

quarter. Use IRS e-file, if possible.

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Requesting To File Forms 941 Instead of Form

944, or Requesting To File Form 944 Instead of

Forms 941

Requesting to file Forms 941 instead of Form 944.

Employers that would otherwise be required to file Form

944 may contact the IRS to request to file quarterly Forms

941 instead of annual Form 944. To request to file

quarterly Forms 941 to report your social security and

Medicare taxes for the 2024 calendar year, you must

either call the IRS at 800-829-4933 between January 1,

2024, and April 1, 2024, or send a written request

postmarked between January 1, 2024, and March 15,

2024. After you contact the IRS, the IRS will send you a

written notice that your filing requirement has been

changed to Forms 941. You must receive written notice

from the IRS to file Forms 941 instead of Form 944 before

you may file these forms. If you don't receive this notice,

you must file Form 944 for calendar year 2024.

Requesting to file Form 944 instead of Forms 941. If

you’re required to file Forms 941 but believe your

employment taxes for calendar year 2024 will be $1,000

or less, you may request to file Form 944 instead of Forms

941 by calling the IRS at 800-829-4933 between January

1, 2024, and April 1, 2024, or sending a written request

postmarked between January 1, 2024, and March 15,

2024. After you contact the IRS, the IRS will send you a

written notice that your filing requirement has been

changed to Form 944. You must receive written notice

from the IRS to file Form 944 instead of Forms 941 before

you may file this form. If you don't receive this notice, you

must file Forms 941 for calendar year 2024.

Where to send written requests. Written requests

should be sent to:

Department of the Treasury Department of the Treasury

Internal Revenue Service or Internal Revenue Service

Ogden, UT 84201-0038 Cincinnati, OH 45999-0038

If you would mail your return filed without a payment to

Ogden, as shown under Where Should You File, later,

send your request to the Ogden address shown above. If

you would mail your return filed without a payment to

Kansas City, send your request to the address for

Cincinnati shown above. For more information about these

procedures, see Rev. Proc. 2009-51, 2009-45 I.R.B. 625,

available at

IRS.gov/irb/2009-45_IRB#RP-2009-51.

What if You Reorganize or Close Your Business?

If You Sell or Transfer Your Business . . .

If you sell or transfer your business during the quarter, you

and the new owner must each file a Form 941 for the

quarter in which the transfer occurred. Report only the

wages you paid.

When two businesses merge, the continuing firm must

file a return for the quarter in which the change took place

and the other firm should file a final return.

Changing from one form of business to another—such

as from a sole proprietorship to a partnership or

corporation—is considered a transfer. If a transfer occurs,

you may need a new EIN. See Pub. 1635 and section 1 of

Pub. 15 for more information.

Attach a statement to your return with:

•

The new owner's name (or the new name of the

business);

•

Whether the business is now a sole proprietorship,

partnership, or corporation;

•

The kind of change that occurred (a sale or transfer);

•

The date of the change; and

•

The name of the person keeping the payroll records and

the address where those records will be kept.

If Your Business Has Closed . . .

If you permanently go out of business or stop paying

wages to your employees, you must file a final return. To

tell the IRS that Form 941 for a particular quarter is your

final return, check the box on line 17 and enter the final

date you paid wages. Also attach a statement to your

return showing the name of the person keeping the payroll

records and the address where those records will be kept.

See Terminating a business in the General Instructions

for Forms W-2 and W-3 for information about earlier dates

for the expedited furnishing and filing of Forms W-2 when

a final Form 941 is filed.

If you participated in a statutory merger or

consolidation, or qualify for predecessor-successor status

due to an acquisition, you should generally file

Schedule D (Form 941), Report of Discrepancies Caused

by Acquisitions, Statutory Mergers, or Consolidations. See

the Instructions for Schedule D (Form 941) to determine

whether you should file Schedule D (Form 941) and when

you should file it.

When Must You File?

File your initial Form 941 for the quarter in which you first

paid wages that are subject to social security and

Medicare taxes or subject to federal income tax

withholding. See the table titled

When To File Form 941,

later.

Then, you must file for every quarter after that—every 3

months—even if you have no taxes to report, unless you’re

a seasonal employer or are filing your final return. See

Seasonal employers and If Your Business Has Closed,

earlier.

File Form 941 only once for each quarter. If you filed

electronically, don't file a paper Form 941. For more

information about filing Form 941 electronically, see

Electronic filing and payment, earlier.

Instructions for Form 941 (Rev. 3-2024)

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When To File Form 941

Your Form 941 is due by the last day of the month that follows the end of the

quarter.

The Quarter Includes . . . Quarter Ends

Form 941

Is Due

1. January, February, March March 31 April 30

2. April, May, June June 30 July 31

3. July, August, September September 30 October 31

4. October, November, December December 31 January 31

For example, you must generally report wages you pay

during the 1st 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 2nd month that follows the end of the

quarter. For example, you may file Form 941 by May 10 if

you made timely deposits in full payment of your taxes for

the 1st quarter.

If we receive Form 941 after the due date, we will treat

Form 941 as filed on time if the envelope containing Form

941 is properly addressed, contains sufficient postage,

and is postmarked by the U.S. Postal Service on or before

the due date, or sent by an IRS-designated private

delivery service (PDS) on or before the due date. If you

don't follow these guidelines, we will generally consider

Form 941 filed when it is actually received. For more

information about PDSs, see

Where Should You File, later.

If any due date for filing falls on a Saturday, Sunday, or

legal holiday, you may file your return on the next business

day.

How Should You Complete Form 941?

Type or print your EIN, name, and address in the spaces

provided. Also enter your name and EIN on the top of

page 2. Don't use your social security number (SSN) or

individual taxpayer identification number (ITIN). Generally,

enter the business (legal) name you used when you

applied for your EIN. For example, if you’re a sole

proprietor, enter “Haleigh Smith” on the “Name” line and

“Haleigh's Cycles” on the “Trade name” line. Leave the

“Trade name” line blank if it is the same as your “Name.”

If you use a tax preparer to fill out Form 941, make sure

the preparer shows your business name exactly as it

appeared when you applied for your EIN.

Employer identification number (EIN). To make sure

businesses comply with federal tax laws, the IRS monitors

tax filings and payments by using a numerical system to

identify taxpayers. A unique nine-digit EIN is assigned to

all corporations, partnerships, and some sole proprietors.

Businesses needing an EIN must apply for a number and

use it throughout the life of the business on all tax returns,

payments, and reports.

Your business should have only one EIN. If you have

more than one and aren't sure which one to use, write to

the IRS office where you file your returns (using the

Without a payment address under Where Should You File,

later) or call the IRS at 800-829-4933.

If you don't have an EIN, you may apply for one online

by going to IRS.gov/EIN. You may also apply for an EIN by

faxing or mailing Form SS-4 to the IRS. If the principal

business was created or organized outside of the United

States or U.S. territories, you may also apply for an EIN by

calling 267-941-1099 (toll call). If you haven't received

your EIN by the due date of Form 941, file a paper return

and write “Applied For” and the date you applied in this

entry space.

If you’re filing your tax return electronically, a valid

EIN is required at the time the return is filed. If a

valid EIN isn't provided, the return won't be

accepted. This may result in penalties.

Always be sure the EIN on the form you file exactly

matches the EIN the IRS assigned to your

business. Don't use your SSN or ITIN on forms

that ask for an EIN. If you used an EIN (including a prior

owner's EIN) on Form 941 that is different from the EIN

reported on Form W-3, see

Box h—Other EIN used this

year in the General Instructions for Forms W-2 and W-3.

On Form W-3 (PR), “Other EIN used this year” is reported

in box f. Filing a Form 941 with an incorrect EIN or using

another business's EIN may result in penalties and delays

in processing your return.

If you change your business name, business ad-

dress, or responsible party... Notify the IRS

immediately if you change your business name, business

address, or responsible party.

•

Write to the IRS office where you file your returns (using

the Without a payment address under Where Should You

File, later) to notify the IRS of any business name change.

See Pub.1635 to see if you need to apply for a new EIN.

•

Complete and mail Form 8822-B to notify the IRS of a

business address or responsible party change. Don't mail

Form 8822-B with your Form 941. For a definition of

“responsible party,” see the Instructions for Form SS-4.

Check the Box for the Quarter

Under “Report for this Quarter of 2024” at the top of Form

941, check the appropriate box of the quarter for which

you’re filing. Make sure the quarter checked is the same

as shown on any attached Schedule B (Form 941), Report

of Tax Liability for Semiweekly Schedule Depositors, and,

if applicable, Schedule R (Form 941).

Completing and Filing Form 941

Make entries on Form 941 as follows to enable accurate

scanning and processing.

•

Use 10-point Courier font (if possible) for all entries if

you’re typing or using a computer to complete your form.

Portable Document Format (PDF) forms on IRS.gov have

fillable fields with acceptable font specifications.

•

Don't enter dollar signs and decimal points. Commas

are optional. Enter dollars to the left of the preprinted

decimal point and cents to the right of it. Don’t round

entries to whole dollars. Always show an amount for cents,

even if it is zero.

•

Leave blank any data field (except lines 1, 2, and 12)

with a value of zero.

•

Enter negative amounts using a minus sign (if possible).

Otherwise, use parentheses.

•

Enter your name and EIN on all pages.

•

Enter your name, EIN, “Form 941,” and the tax year and

quarter on all attachments.

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•

Staple multiple sheets in the upper left corner when

filing.

Complete both pages. You must complete both pages

of Form 941 and sign on page 2. Failure to do so may

delay processing of your return.

Required Notice to Employees About the Earned

Income Credit (EIC)

To notify employees about the EIC, you must give the

employees, except for employees in American Samoa,

Guam, Puerto Rico, the CNMI, and the USVI, one of the

following items.

•

Form W-2 which has the required information about the

EIC on the back of Copy B.

•

A substitute Form W-2 with the same EIC information

on the back of the employee's copy that is on Copy B of

the IRS Form W-2.

•

Notice 797, Possible Federal Tax Refund Due to the

Earned Income Credit (EIC).

•

Your written statement with the same wording as

Notice 797.

For more information, see section 10 of Pub. 15, Pub.

596, and

IRS.gov/EIC.

Reconciling Forms 941 With Form W-3

The IRS matches amounts reported on your four quarterly

Forms 941 with Form W-2 amounts totaled on your yearly

Form W-3, Transmittal of Wage and Tax Statements. If the

amounts don't agree, you may be contacted by the IRS or

the Social Security Administration (SSA). The following

amounts are reconciled.

•

Federal income tax withholding.

•

Social security wages.

•

Social security tips.

•

Medicare wages and tips.

For more information, see section 12 of Pub. 15 and the

Instructions for Schedule D (Form 941).

Where Should You File?

You’re encouraged to file Form 941 electronically. Go to

IRS.gov/EmploymentEfile for more information on

electronic filing. If you file a paper return, where you file

depends on whether you include a payment with Form

941. Mail your return to the address listed for your location

in the table that follows.

PDSs can't deliver to P.O. boxes. You must use the U.S.

Postal Service to mail an item to a P.O. box address. Go to

IRS.gov/PDS for the current list of PDSs. For the IRS

mailing address to use if you’re using a PDS, go to

IRS.gov/PDSstreetAddresses. Select the mailing address

listed on the webpage that is in the same state as the

address to which you would mail returns filed without a

payment, as shown next.

Mailing Addresses for Form 941

If you’re in . . . Without a

payment . . .

With a

payment . . .

Connecticut, Delaware, District of

Columbia, Georgia, Illinois,

Indiana, Kentucky, Maine,

Maryland, Massachusetts,

Michigan, New Hampshire, New

Jersey, New York, North Carolina,

Ohio, Pennsylvania, Rhode

Island, South Carolina,

Tennessee, Vermont, Virginia,

West Virginia, Wisconsin

Department of

the Treasury

Internal

Revenue

Service

Kansas City,

MO 64999-0005

Internal

Revenue

Service

P.O. Box 806532

Cincinnati, OH

45280-6532

Alabama, Alaska, Arizona,

Arkansas, California, Colorado,

Florida, Hawaii, Idaho, Iowa,

Kansas, Louisiana, Minnesota,

Mississippi, Missouri, Montana,

Nebraska, Nevada, New Mexico,

North Dakota, Oklahoma,

Oregon, South Dakota, Texas,

Utah, Washington, Wyoming

Department of

the Treasury

Internal

Revenue

Service

Ogden, UT

84201-0005

Internal

Revenue

Service

P.O. Box 932100

Louisville, KY

40293-2100

No legal residence or principal

place of business in any state,

including employers in American

Samoa, Guam, the CNMI, the

USVI, and Puerto Rico

Internal

Revenue

Service

P.O. Box

409101

Ogden, UT

84409

Internal

Revenue

Service

P.O. Box 932100

Louisville, KY

40293-2100

Special filing address for

exempt organizations; federal,

state, and local governmental

entities; and Indian tribal

governmental entities, regardless

of location

Department of

the Treasury

Internal

Revenue

Service

Ogden, UT

84201-0005

Internal

Revenue

Service

P.O. Box 932100

Louisville, KY

40293-2100

Your filing address may have changed from that

used to file your employment tax return in prior

years. Don't send Form 941 or any payments to

the SSA.

Depositing Your Taxes

You must deposit all depository taxes

electronically by EFT. For more information, see

Federal tax deposits must be made by electronic

funds transfer (EFT) under Reminders, earlier.

Must You Deposit Your Taxes?

You may have to deposit the federal income taxes you

withheld and both the employer and employee social

security taxes and Medicare taxes.

•

If your total taxes after adjustments and

nonrefundable credits (line 12) are less than $2,500

for the current quarter or the prior quarter, and you

didn't incur a $100,000 next-day deposit obligation

during the current quarter. You don't have to make a

deposit. To avoid a penalty, you must pay any amount due

in full with a timely filed return or you must deposit any

amount you owe by the due date of the return. For more

information on paying with a timely filed return, see the

instructions for

line 14, later. If you’re not sure your total

tax liability for the current quarter will be less than $2,500

(and your liability for the prior quarter wasn't less than

$2,500), make deposits using the semiweekly or monthly

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rules so you won't be subject to failure-to-deposit (FTD)

penalties.

•

If your total taxes after adjustments and

nonrefundable credits (line 12) are $2,500 or more

for the current quarter and the prior quarter. You must

make deposits according to your deposit schedule. See

section 11 of Pub. 15 for information about payments

made under the accuracy of deposits rule and for rules

about federal tax deposits.

When Must You Deposit Your Taxes?

Determine if You’re a Monthly or Semiweekly

Schedule Depositor for the Quarter

The IRS uses two different sets of deposit rules to

determine when businesses must deposit their social

security, Medicare, and withheld federal income taxes.

These schedules tell you when a deposit is due after you

have a payday.

Your deposit schedule isn't determined by how often

you pay your employees. Your deposit schedule depends

on the total tax liability you reported on Form 941 during

the previous 4-quarter lookback period (July 1 of the

second preceding calendar year through June 30 of the

preceding calendar year). See section 11 of Pub. 15 for

details. If you filed Form 944 in either 2022 or 2023, your

lookback period is the 2022 calendar year.

Before the beginning of each calendar year, determine

which type of deposit schedule you must use.

•

If you reported $50,000 or less in taxes during the

lookback period, you’re a monthly schedule depositor.

•

If you reported more than $50,000 of taxes during the

lookback period, you’re a semiweekly schedule

depositor.

If you’re a monthly schedule depositor and

accumulate a $100,000 tax liability on any day

during the deposit period, you become a

semiweekly schedule depositor on the next day and

remain so for at least the rest of the calendar year and for

the following calendar year. See

$100,000 Next-Day

Deposit Rule in section 11 of Pub. 15 for more information.

The $100,000 tax liability threshold requiring a next-day

deposit is determined before you consider any reduction

of your liability for nonrefundable credits.

What About Penalties and Interest?

Avoiding Penalties and Interest

You can avoid paying penalties and interest if you do all of

the following.

•

Deposit or pay your taxes when they are due.

•

File your fully completed Form 941 on time.

•

Report your tax liability accurately.

•

Submit valid checks for tax payments.

•

Furnish accurate Forms W-2 to employees.

•

File Form W-3 and Copy A of Forms W-2 with the SSA

on time and accurately.

Penalties and interest are charged on taxes paid late

and returns filed late at a rate set by law. See sections 11

and 12 of Pub. 15 for details.

CAUTION

Use Form 843 to request abatement of assessed

penalties or interest. Don't request abatement of assessed

penalties or interest on Form 941 or Form 941-X.

If you receive a notice about a penalty after you file this

return, reply to the notice with an explanation and we will

determine if you meet reasonable-cause criteria. Don't

attach an explanation when you file your return.

If federal income, social security, and Medicare

taxes that must be withheld (that is, trust fund

taxes) aren't withheld or aren't deposited or paid

to the United States Treasury, the trust fund recovery

penalty may apply. The penalty is 100% of the unpaid trust

fund tax. If these unpaid taxes can't be immediately

collected from the employer or business, the trust fund

recovery penalty may be imposed on all persons who are

determined by the IRS to be responsible for collecting,

accounting for, or paying over these taxes, and who acted

willfully in not doing so. For more information, see section

11 of Pub. 15. The trust fund recovery penalty won't apply

to any amount of trust fund taxes an employer holds back

in anticipation of any credits they are entitled to.

Adjustment of Tax on Tips

If, by the 10th of the month after the month you received

an employee's report on tips, you don't have enough

employee funds available to withhold the employee share

of social security and Medicare taxes, you no longer have

to collect it. Report the entire amount of these tips on

line 5b (Taxable social security tips), line 5c (Taxable

Medicare wages and tips), and, if the withholding

threshold is met, line 5d (Taxable wages and tips subject

to Additional Medicare Tax withholding). Include as a

negative adjustment on

line 9 the total uncollected

employee share of the social security and Medicare taxes.

Specific Instructions:

Part 1: Answer These Questions for

This Quarter

1. Number of Employees Who Received Wages,

Tips, or Other Compensation

Enter the number of employees on your payroll for the pay

period including March 12, June 12, September 12, or

December 12, for the quarter indicated at the top of Form

941. Don't include:

•

Household employees,

•

Employees in nonpay status for the pay period,

•

Farm employees,

•

Pensioners, or

•

Active members of the U.S. Armed Forces.

Employers in American Samoa, Guam, the CNMI,

the USVI, and Puerto Rico can skip lines 2 and 3,

unless you have employees who are subject to

U.S. income tax withholding.

2. Wages, Tips, and Other Compensation

Enter amounts on line 2 that would also be included in

box 1 of your employees' Forms W-2. See Box 1—Wages,

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tips, other compensation in the General Instructions for

Forms W-2 and W-3 for details. Include sick pay paid by

your agent. Also include sick pay paid by a third party that

isn't your agent (for example, an insurance company) if

you were given timely notice of the payments and the third

party transferred liability for the employer's taxes to you.

If you’re a third-party payer of sick pay and not an agent

of the employer, don't include sick pay that you paid to

policyholders' employees here if you gave the

policyholders timely notice of the payments. See section 6

of Pub. 15-A for more information about sick pay reporting

and the procedures for transferring the liability to the

employer.

3. Federal Income Tax Withheld From Wages,

Tips, and Other Compensation

Enter the federal income tax you withheld (or were

required to withhold) from your employees on this

quarter's wages, tips, taxable fringe benefits, and

supplemental unemployment compensation benefits.

Don't include any income tax withheld by a third-party

payer of sick pay even if you reported it on Forms W-2.

You will reconcile this difference on Form W-3. Also

include here any excise taxes you were required to

withhold on golden parachute payments (section 4999).

For information on the employment tax treatment of fringe

benefits, see Pub. 15-B, Employer's Tax Guide to Fringe

Benefits. For information about supplemental

unemployment compensation benefits and golden

parachute payments, see section 5 of Pub. 15-A.

If you’re a third-party payer of sick pay, enter the federal

income tax you withheld (or were required to withhold) on

third-party sick pay here.

4. If No Wages, Tips, and Other Compensation

Are Subject to Social Security or Medicare

Tax . . .

If no wages, tips, and other compensation on line 2 are

subject to social security or Medicare tax, check the box

on line 4. If this question doesn't apply to you, leave the

box blank. For more information about exempt wages, see

section 15 of Pub. 15. For religious exemptions, see

section 4 of Pub. 15-A.

If you’re a governmental employer, wages you pay

aren't automatically exempt from social security

and Medicare taxes. Your employees may be

covered by law or by a voluntary Section 218 Agreement

with the SSA. For more information, see Pub. 963,

Federal-State Reference Guide.

5a–5e. Taxable Social Security and Medicare

Wages and Tips

5a. Taxable social security wages. Enter the total

wages, sick pay, and taxable fringe benefits subject to

social security taxes you paid to your employees during

the quarter. For this purpose, sick pay includes payments

made by an insurance company to your employees for

which you received timely notice from the insurance

company. See section 6 of Pub. 15-A for more information

about sick pay reporting. See the instructions for

line 8 for

CAUTION

an adjustment that you may need to make on Form 941 for

sick pay.

Enter the amount before payroll deductions. Don't

include tips on this line. For information on types of wages

subject to social security taxes, see section 5 of Pub. 15.

For 2024, the rate of social security tax on taxable

wages is 6.2% (0.062) each for the employer and

employee. Stop paying social security tax on and entering

an employee's wages on line 5a when the employee's

taxable wages and tips reach $168,600 for the year.

However, continue to withhold income and Medicare taxes

for the whole year on all wages and tips, even when the

social security wage base of $168,600 has been reached.

line 5a (column 1)

x 0.124

line 5a (column 2)

5b. Taxable social security tips. Enter all tips your

employees reported to you during the quarter until the

total of the tips and taxable wages, including wages

reported on line 5a, for an employee reaches $168,600 for

the year. Include all tips your employee reported to you

even if you were unable to withhold the employee tax of

6.2%. You will reduce your total taxes by the amount of

any uncollected employee share of social security and

Medicare taxes on tips later on line 9; see

Current

quarter's adjustments for tips and group-term life

insurance, later. Don’t include service charges on line 5b.

For details about the difference between tips and service

charges, see Rev. Rul. 2012-18, 2012-26 I.R.B. 1032,

available at

IRS.gov/irb/2012-26_IRB#RR-2012-18.

Your employee must report cash tips to you by the 10th

day of the month after the month the tips are received.

Cash tips include tips paid by cash, check, debit card, and

credit card. The report should include charged tips (for

example, credit and debit card charges) you paid over to

the employee for charge customers, tips the employee

received directly from customers, and tips received from

other employees under any tip-sharing arrangement. Both

directly and indirectly tipped employees must report tips to

you. No report is required for months when tips are less

than $20. Employees may submit a written statement or

electronic tip record.

Don't include allocated tips (described in section 6 of

Pub. 15) on this line. Instead, report them on Form 8027.

Allocated tips aren't reportable on Form 941 and aren't

subject to withholding of federal income, social security, or

Medicare tax.

line 5b (column 1)

x 0.124

line 5b (column 2)

5c. Taxable Medicare wages & tips. Enter all wages,

tips, sick pay, and taxable fringe benefits that are subject

to Medicare tax. Unlike social security wages, there is no

limit on the amount of wages subject to Medicare tax.

The rate of Medicare tax is 1.45% (0.0145) each for the

employer and employee. Include all tips your employees

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reported during the quarter, even if you were unable to

withhold the employee tax of 1.45%.

line 5c (column 1)

x 0.029

line 5c (column 2)

For more information on tips, see section 6 of Pub. 15.

See the instructions for line 8 for an adjustment that you

may need to make on Form 941 for sick pay.

5d. Taxable wages & tips subject to Additional Medi-

care Tax withholding. Enter all wages, tips, sick pay,

and taxable fringe benefits that are subject to Additional

Medicare Tax withholding. You’re required to begin

withholding Additional Medicare Tax in the pay period in

which you pay wages in excess of $200,000 to an

employee and continue to withhold it each pay period until

the end of the calendar year. Additional Medicare Tax is

only imposed on the employee. There is no employer

share of Additional Medicare Tax. All wages that are

subject to Medicare tax are subject to Additional Medicare

Tax withholding if paid in excess of the $200,000

withholding threshold.

For more information on what wages are subject to

Medicare tax, see section 15 of Pub. 15. For more

information on Additional Medicare Tax, go to

IRS.gov/

ADMTfaqs. See the instructions for line 8 for an

adjustment that you may need to make on Form 941 for

sick pay.

Once wages and tips exceed the $200,000 withholding

threshold, include all tips your employees reported during

the quarter, even if you were unable to withhold the

employee tax of 0.9%.

line 5d (column 1)

x 0.009

line 5d (column 2)

5e. Total social security and Medicare taxes. Add the

column 2 amounts on lines 5a–5d. Enter the result on

line 5e.

5f. Section 3121(q) Notice and Demand—Tax

Due on Unreported Tips

Enter the tax due from your Section 3121(q) Notice and

Demand on line 5f. The IRS issues a Section 3121(q)

Notice and Demand to advise an employer of the amount

of tips received by employees who failed to report or

underreported tips to the employer. An employer isn't

liable for the employer share of the social security and

Medicare taxes on unreported tips until notice and

demand for the taxes is made to the employer by the IRS

in a Section 3121(q) Notice and Demand. The tax due

may have been determined from tips reported to the IRS

on employees' Forms 4137, Social Security and Medicare

Tax on Unreported Tip Income, or other tips that weren't

reported to their employer as determined by the IRS

during an examination. For additional information, see

Rev. Rul. 2012-18.

Deposit the tax within the time period required under

your deposit schedule to avoid any possible deposit

penalty. The tax is treated as accumulated by the

employer on the “Date of Notice and Demand” as printed

on the Section 3121(q) Notice and Demand. The

employer must include this amount on the appropriate line

of the record of federal tax liability (Part 2 of Form 941 for

a monthly schedule depositor or Schedule B (Form 941)

for a semiweekly schedule depositor).

6. Total Taxes Before Adjustments

Add the total federal income tax withheld from wages, tips,

and other compensation (line 3); the total social security

and Medicare taxes before adjustments (line 5e); and any

tax due under a Section 3121(q) Notice and Demand

(line 5f). Enter the result on line 6.

7–9. Tax Adjustments

Enter tax amounts on lines 7–9 that result from current

quarter adjustments. Use a minus sign (if possible) to

show an adjustment that decreases the total taxes shown

on line 6 instead of parentheses. Doing so enhances the

accuracy of our scanning software. For example, enter

“-10.59” instead of “(10.59).” However, if your software

only allows for parentheses in entering negative amounts,

you may use them.

Current quarter's adjustments. In certain cases, you

must adjust the amounts you entered as social security

and Medicare taxes in column 2 of lines 5a–5d to figure

your correct tax liability for this quarter's Form 941. See

section 13 of Pub. 15.

7. Current quarter's adjustment for fractions of

cents. Enter adjustments for fractions of cents (due to

rounding) relating to the employee share of social security

and Medicare taxes withheld. The employee share of

amounts shown in column 2 of lines 5a–5d may differ

slightly from amounts actually withheld from employees'

pay due to the rounding of social security and Medicare

taxes based on statutory rates. This adjustment may be a

positive or a negative adjustment.

8. Current quarter's adjustment for sick pay. If your

third-party payer of sick pay that isn't your agent (for

example, an insurance company) transfers the liability for

the employer share of the social security and Medicare

taxes to you, enter a negative adjustment on line 8 for the

employee share of social security and Medicare taxes that

were withheld and deposited by your third-party sick pay

payer on the sick pay. If you’re the third-party sick pay

payer and you transferred the liability for the employer

share of the social security and Medicare taxes to the

employer, enter a negative adjustment on line 8 for any

employer share of these taxes required to be paid by the

employer. The sick pay should be included on line 5a,

line 5c, and, if the withholding threshold is met, line 5d.

No adjustment is reported on line 8 for sick pay that is

paid through a third party as an employer’s agent. An

employer’s agent bears no insurance risk and is

reimbursed on a cost-plus-fee basis for payment of sick

pay and similar amounts. If an employer uses an agent to

pay sick pay, the employer reports the wages on line 5a,

line 5c, and, if the withholding threshold is met, line 5d,

unless the employer has an agency agreement with the

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third-party payer that requires the third-party payer to do

the collecting, reporting, and/or paying or depositing

employment taxes on the sick pay. See section 6 of Pub.

15-A for more information about sick pay reporting.

9. Current quarter's adjustments for tips and

group-term life insurance. Enter a negative adjustment

for:

•

Any uncollected employee share of social security and

Medicare taxes on tips, and

•

The uncollected employee share of social security and

Medicare taxes on group-term life insurance premiums

paid for former employees.

See the General Instructions for Forms W-2 and W-3

for information on how to report the uncollected employee

share of social security and Medicare taxes on tips and

group-term life insurance on Form W-2.

Prior quarter's adjustments. If you need to correct any

adjustment reported on a previously filed Form 941,

complete and file Form 941-X. Form 941-X is an adjusted

return or claim for refund and is filed separately from Form

941. See section 13 of Pub. 15.

10. Total Taxes After Adjustments

Combine the amounts shown on lines 6–9 and enter the

result on line 10.

11. Qualified Small Business Payroll Tax Credit

for Increasing Research Activities

Enter the amount of the credit from Form 8974, line 12 or,

if applicable, line 17.

If you enter an amount on line 11, you must attach

Form 8974. The December 2023 revision of Form

8974 instructs you to enter the amount from Form

8974, line 12 or, if applicable, line 17, on Form 941,

line 11a. Instead, the amount from Form 8974, line 12 or, if

applicable, line 17, should be entered on Form 941,

line 11.

12. Total Taxes After Adjustments and

Nonrefundable Credits

Subtract line 11 from line 10 and enter the result on

line 12. The amount entered on line 12 can’t be less than

zero.

•

If line 12 is less than $2,500 or line 12 on the prior

quarterly return was less than $2,500, and you didn't

incur a $100,000 next-day deposit obligation during

the current quarter. You may pay the amount with Form

941 or you may deposit the amount. To avoid a penalty,

you must pay any amount you owe in full with a timely filed

return or you must deposit any amount you owe before the

due date of the return. For more information on paying

with a timely filed return, see the instructions for

line 14,

later.

•

If line 12 is $2,500 or more and line 12 on the prior

quarterly return was $2,500 or more, or if you

incurred a $100,000 next-day deposit obligation

during the current quarter. You must make required

deposits according to your deposit schedule. The amount

shown on line 12 must equal the “Total liability for quarter”

shown on line 16 or the “Total liability for the quarter”

CAUTION

shown on Schedule B (Form 941). For more information,

see the line 16 instructions, later.

For more information and rules about federal tax

deposits, see Depositing Your Taxes, earlier, and section

11 of Pub. 15.

If you’re a semiweekly schedule depositor, you

must complete Schedule B (Form 941). If you fail

to complete and submit Schedule B (Form 941),

the IRS may assess deposit penalties based on available

information.

13. Total Deposits for This Quarter

Enter your deposits for this quarter, including any

overpayment from a prior quarter that you applied to this

return. Also include in the amount shown any

overpayment that you applied from filing Form 941-X,

941-X (PR), or 944-X in the current quarter.

14. Balance Due

If line 12 is more than line 13, enter the difference on

line 14. Otherwise, see the instructions for

line 15, later.

Never make an entry on both lines 14 and 15.

You don't have to pay if line 14 is under $1. Generally,

you should have a balance due only if your total taxes after

adjustments and nonrefundable credits (line 12) for the

current quarter or prior quarter are less than $2,500, and

you didn't incur a $100,000 next-day deposit obligation

during the current quarter. However, see section 11 of

Pub. 15 for information about payments made under the

accuracy of deposits rule.

If you were required to make federal tax deposits, pay

the amount shown on line 14 by EFT. If you weren't

required to make federal tax deposits (see

Must You

Deposit Your Taxes, earlier) or you're a monthly schedule

depositor making a payment under the accuracy of

deposits rule, you may pay the amount shown on line 14

by EFT, credit card, debit card, check, money order, or

EFW. For more information on electronic payment options,

go to

IRS.gov/Payments.

If you pay by EFT, credit card, or debit card, file your

return using the Without a payment address under Where

Should You File, earlier, and don't file Form 941-V,

Payment Voucher.

If you pay by check or money order, make it payable to

“United States Treasury.” Enter your EIN, “Form 941,” and

the tax period (“1st Quarter 2024,” “2nd Quarter 2024,”

“3rd Quarter 2024,” or “4th Quarter 2024”) on your check

or money order. Complete Form 941-V and enclose it with

Form 941.

If line 12 is $2,500 or more on both your prior and

current quarter Forms 941, and you’ve deposited all taxes

when due, the balance due on line 14 should be zero.

If you’re required to make deposits and instead

pay the taxes with Form 941, you may be subject

to a penalty. See Must You Deposit Your Taxes,

earlier.

What if you can't pay in full? If you can't pay the full

amount of tax you owe, you can apply for an installment

CAUTION

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agreement online. You can apply for an installment

agreement online if:

•

You can't pay the full amount shown on line 14,

•

The total amount you owe is $25,000 or less, and

•

You can pay the liability in full in 24 months.

To apply using the Online Payment Agreement

Application, go to IRS.gov/OPA.

Under an installment agreement, you can pay what you

owe in monthly installments. There are certain conditions

you must meet to enter into and maintain an installment

agreement, such as paying the liability within 24 months,

and making all required deposits and timely filing tax

returns during the length of the agreement.

If your installment agreement is accepted, you will be

charged a fee and you will be subject to penalties and

interest on the amount of tax not paid by the due date of

the return.

15. Overpayment

If line 13 is more than line 12, enter the difference on

line 15.

Never make an entry on both lines 14 and 15.

If you deposited more than the correct amount for the

quarter, you can choose to have the IRS either refund the

overpayment or apply it to your next return. Check only

one box on line 15. If you don't check either box or if you

check both boxes, we will generally apply the

overpayment to your next return. Regardless of any boxes

you check or don't check on line 15, we may apply your

overpayment to any past due tax account that is shown in

our records under your EIN.

If line 15 is under $1, we will send a refund or apply it to

your next return only if you ask us in writing to do so.

Part 2: Tell Us About Your Deposit

Schedule and Tax Liability for This

Quarter

16. Tax Liability for the Quarter

Check one of the boxes on line 16. Follow the instructions

for each box to determine if you need to enter your

monthly tax liability on Form 941 or your daily tax liability

on Schedule B (Form 941).

De minimis exception. If line 12 is less than $2,500 or

line 12 on the prior quarterly return was less than $2,500,

and you didn't incur a $100,000 next-day deposit

obligation during the current quarter, check the first box on

line 16 and go to Part 3.

If you meet the de minimis exception based on the

prior quarter and line 12 for the current quarter is

$100,000 or more, you must provide a record of

your federal tax liability. If you’re a monthly schedule

depositor, complete the deposit schedule on line 16. If

you’re a semiweekly schedule depositor, attach

Schedule B (Form 941).

Monthly schedule depositor. If you reported $50,000 or

less in taxes during the lookback period, you’re a monthly

schedule depositor unless the $100,000 Next-Day

Deposit Rule discussed in section 11 of Pub. 15 applies.

CAUTION

Check the second box on line 16 and enter your tax

liability for each month in the quarter. Enter your tax

liabilities in the month that corresponds to the dates you

paid wages to your employees, not the date payroll

liabilities were accrued or deposits were made. Add the

amounts for each month. Enter the result in the

“Total

liability for quarter” box.

Note that your total tax liability for the quarter must

equal your total taxes shown on line 12. If it doesn't, your

tax deposits and payments may not be counted as timely.

Don't change your tax liability on line 16 by adjustments

reported on any Forms 941-X.

You’re a monthly schedule depositor for the calendar

year if the amount of your Form 941 taxes reported for the

lookback period is $50,000 or less. The lookback period is

the 4 consecutive quarters ending on June 30 of the prior

year. For 2024, the lookback period begins July 1, 2022,

and ends June 30, 2023. For details on the deposit rules,

see section 11 of Pub. 15. If you filed Form 944 in either

2022 or 2023, your lookback period is the 2022 calendar

year.

The amounts entered on line 16 are a summary of

your monthly tax liability, not a summary of

deposits you made. If you don't properly report

your liabilities when required or if you’re a semiweekly

schedule depositor and enter your liabilities on line 16

instead of on Schedule B (Form 941), you may be

assessed an “averaged” FTD penalty. See

Deposit

Penalties in section 11 of Pub. 15 for more information.

Reporting adjustments from lines 7–9 on line 16. If

your net adjustment during a month is negative and it

exceeds your total tax liability for the month, don't enter a

negative amount for the month. Instead, enter "-0-" for the

month and carry over the unused portion of the

adjustment to the next month.

Semiweekly schedule depositor. If you reported more

than $50,000 of taxes for the lookback period, you’re a

semiweekly schedule depositor. Check the third box on

line 16.

You must complete Schedule B (Form 941) and submit

it with your Form 941. Don't file Schedule B (Form 941)

with your Form 941 if you’re a monthly schedule depositor.

Don't change your tax liability on Schedule B (Form

941) by adjustments reported on any Forms 941-X.

Adjusting tax liability for the qualified small business

payroll tax credit for increasing research activities

(line 11). Monthly schedule depositors and semiweekly

schedule depositors must account for the qualified small

business payroll tax credit for increasing research

activities (line 11) when reporting their tax liabilities on

line 16 or Schedule B (Form 941). The total tax liability for

the quarter must equal the amount reported on line 12.

Failure to account for the qualified small business payroll

tax credit for increasing research activities on line 16 or

Schedule B (Form 941) may cause line 16 or Schedule B

(Form 941) to report more than the total tax liability

reported on line 12. Don't reduce your monthly tax liability

reported on line 16 or your daily tax liability reported on

Schedule B (Form 941) below zero.

CAUTION

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Beginning with the first quarter of 2023, the qualified

small business payroll tax credit for increasing research

activities is first used to reduce the employer share of

social security tax (up to $250,000) for the quarter and any

remaining credit is then used to reduce the employer

share of Medicare tax for the quarter until it reaches zero.

In completing line 16 or Schedule B (Form 941), you take

into account the payroll tax credit against the liability for

the employer share of social security tax starting with the

first payroll payment of the quarter that includes payments

of wages subject to social security tax to your employees

until you use up to $250,000 of credit against the

employer share of social security tax and you then take

into account any remaining payroll tax credit against the

liability for the employer share of Medicare tax starting

with the first payroll payment of the quarter that includes

payments of wages subject to Medicare tax to employees.

Consistent with the entries on line 16 or Schedule B (Form

941), the payroll tax credit should be taken into account in

making deposits of employment tax. If any payroll tax

credit is remaining at the end of the quarter that hasn’t

been used completely because it exceeds $250,000 of

the employer share of social security tax and the employer

share of Medicare tax for the quarter, the excess credit

may be carried forward to the succeeding quarter and

allowed as a payroll tax credit for the succeeding quarter.

The payroll tax credit may not be taken as a credit against

income tax withholding, the employee share of social

security tax, or the employee share of Medicare tax. Also,

the remaining payroll tax credit may not be carried back

and taken as a credit against wages paid from preceding

quarters.

Example. Rose Co. is an employer with a calendar tax

year that filed its timely 2023 income tax return on April

15, 2024. Rose Co. elected to take the qualified small

business payroll tax credit for increasing research

activities on Form 6765. The third quarter of 2024 is the

first quarter that begins after Rose Co. filed the income tax

return making the payroll tax credit election. Therefore, the

payroll tax credit applies against Rose Co.'s share of

social security tax (up to $250,000) and Medicare tax on

wages paid to employees in the third quarter of 2024.

Rose Co. is a semiweekly schedule depositor. Rose Co.

completes Schedule B (Form 941) by reducing the

amount of liability entered for the first payroll payment in

the third quarter of 2024 that includes wages subject to

social security tax by the lesser of (1) its share of social

security tax (up to $250,000) on the wages, or (2) the

available payroll tax credit. If the payroll tax credit elected

is more than Rose Co.'s share of social security tax on the

first payroll payment of the quarter, the excess payroll tax

credit would be carried forward to succeeding payroll

payments in the third quarter until it is used against up to

$250,000 of Rose Co.'s share of social security tax for the

quarter. If the amount of the payroll tax credit exceeds

Rose Co.'s share of social security tax (up to $250,000) on

wages paid to its employees in the third quarter, any

remaining credit is used against Rose Co.'s share of

Medicare tax on the first payroll payment of the quarter

and then the excess payroll tax credit would be carried

forward to succeeding payroll payments in the third

quarter until it is used against Rose Co.'s share of

Medicare tax for the quarter. If Rose Co. still has credit

remaining after reducing its share of social security tax (up

to $250,000) and Medicare tax for the third quarter, the

remainder would be treated as a payroll tax credit against

its share of social security tax (up to $250,000) and

Medicare tax on wages paid in the fourth quarter. If the

amount of the payroll tax credit remaining exceeded Rose

Co.'s share of social security tax (up to $250,000) and

Medicare tax on wages paid in the fourth quarter, it could

be carried forward and treated as a payroll tax credit for

the first quarter of 2025.

Part 3: Tell Us About Your Business

In Part 3, answer only those questions that apply to your

business. If the questions don't apply, leave them blank

and go to Part 4.

17. If Your Business Has Closed . . .

If you go out of business or stop paying wages, you must

file a final return. To tell the IRS that a particular Form 941

is your final return, check the box on line 17 and enter the

final date you paid wages in the space provided. For

additional filing requirements, including information about

attaching a statement to your final return, see

If Your

Business Has Closed, earlier.

18. If You’re a Seasonal Employer . . .

If you hire employees seasonally—such as for summer or

winter only—check the box on line 18. Checking the box

tells the IRS not to expect four Forms 941 from you

throughout the year because you haven't paid wages

regularly.

Generally, we won't ask about unfiled returns if at least

one taxable return is filed each year. However, you must

check the box on line 18 on every Form 941 you file.

Otherwise, the IRS will expect a return to be filed for each

quarter.

Also, when you complete Form 941, be sure to check

the box on the top of the form that corresponds to the

quarter reported.

Part 4: May We Speak With Your

Third-Party Designee?

If you want to allow an employee, a paid tax preparer, or

another person to discuss your Form 941 with the IRS,

check the “Yes” box in Part 4. Enter the name, phone

number, and five-digit personal identification number

(PIN) of the specific person to speak with—not the name

of the firm that prepared your tax return. The designee

may choose any five numbers as their PIN.

By checking “Yes,” you authorize the IRS to talk to the

person you named (your designee) about any questions

we may have while we process your return. You also

authorize your designee to do all of the following.

•

Give us any information that is missing from your return.

•

Call us for information about processing your return.

•

Respond to certain IRS notices that you’ve shared with

your designee about math errors and return preparation.

The IRS won't send notices to your designee.

You’re not authorizing your designee to bind you to

anything (including additional tax liability) or to otherwise

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represent you before the IRS. If you want to expand your

designee's authorization, see Pub. 947.

The authorization will automatically expire 1 year from

the due date (without regard to extensions) for filing your

Form 941. If you or your designee wants to terminate the

authorization, write to the IRS office for your location using

the

Without a payment address under Where Should You

File, earlier.

Part 5: Sign Here (Approved Roles)

Complete all information and sign Form 941. The following

persons are authorized to sign the return for each type of

business entity.

•

Sole proprietorship—The individual who owns the

business.

•

Corporation (including a limited liability company

(LLC) treated as a corporation)—The president, vice

president, or other principal officer duly authorized to sign.

•

Partnership (including an LLC treated as a

partnership) or unincorporated organization—A

responsible and duly authorized partner, member, or

officer having knowledge of its affairs.

•

Single-member LLC treated as a disregarded entity

for federal income tax purposes—The owner of the

LLC or a principal officer duly authorized to sign.

•

Trust or estate—The fiduciary.

Form 941 may be signed by a duly authorized agent of

the taxpayer if a valid power of attorney has been filed.

Alternative signature method. Corporate officers or

duly authorized agents may sign Form 941 by rubber

stamp, mechanical device, or computer software program.

For details and required documentation, see Rev. Proc.

2005-39, 2005-28 I.R.B. 82, available at

IRS.gov/irb/

2005-28_IRB#RP-2005-39.

Paid Preparer Use Only

A paid preparer must sign Form 941 and provide the

information in the

Paid Preparer Use Only section of Part 5

if the preparer was paid to prepare Form 941 and isn't an

employee of the filing entity. Paid preparers must sign

paper returns with a manual signature. The preparer must

give you a copy of the return in addition to the copy to be

filed with the IRS.

If you’re a paid preparer, enter your Preparer Tax

Identification Number (PTIN) in the space provided.

Include your complete address. If you work for a firm,

enter the firm's name and the EIN of the firm. You can

apply for a PTIN online or by filing Form W-12. For more

information about applying for a PTIN online, go to

IRS.gov/PTIN. You can't use your PTIN in place of the EIN

of the tax preparation firm.

Generally, don't complete this section if you’re filing the

return as a reporting agent and have a valid Form 8655 on

file with the IRS. However, a reporting agent must

complete this section if the reporting agent offered legal

advice, for example, advising the client on determining

whether its workers are employees or independent

contractors for federal tax purposes.

How To Get Forms, Instructions, and

Publications

You can view, download, or print most of the

forms, instructions, and publications you may

need at IRS.gov/Forms. Otherwise, you can go to

IRS.gov/OrderForms to place an order and have them

mailed to you. The IRS will process your order for forms

and publications as soon as possible. Don't resubmit

requests you've already sent us. You can get forms and

publications faster online.

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Privacy Act and Paperwork Reduction Act Notice. We ask for the information on these forms to carry out the

Internal Revenue laws of the United States. You’re required to give us the information. We need it to ensure that you’re

complying with these laws and to allow us to figure and collect the right amount of tax. Section 6011 requires you to

provide the requested information if the tax is applicable to you. Section 6109 requires you to provide your identification

number. You’re not required to provide the information requested on a form that is subject to the Paperwork Reduction

Act unless the form displays a valid OMB control number. Books or records relating to a form or its instructions must be

retained as long as their contents may become material in the administration of any Internal Revenue law. Generally, tax

returns and return information are confidential, as required by section 6103. However, section 6103 allows or requires the

IRS to disclose or give the information shown on your tax return to others as described in the Code. For example, we may

disclose your tax information to the Department of Justice for civil and criminal litigation, and to cities, states, the District

of Columbia, and U.S. commonwealths and territories for use in administering their tax laws. We may also disclose this

information to other countries under a tax treaty, to federal and state agencies to enforce federal nontax criminal laws, or

to federal law enforcement and intelligence agencies to combat terrorism.

Estimates of taxpayer burden. These estimates include forms in the Form 941 series, including attachments; Forms

CT-1, CT-2, SS-8, W-2, W-3, 940, 945, 2032, 2678, 8027, 8027-T, 8453-EMP, 8850, 8879-EMP, 8922, 8952, and 8974,

and their schedules; and all the forms employers attach to employment-related tax returns and related wage statements

to employees.

The following table shows burden estimates based on current statutory requirements as of April 15, 2023, for

employers filing employment tax reporting forms and wage statement forms. Time spent and out-of-pocket costs are

presented separately. Time burden is the time spent to comply with employer reporting responsibilities, including

recordkeeping, preparing and submitting forms, and preparing and providing wage statements to employees.

Out-of-pocket costs (“money”) include any expenses incurred to comply with employer reporting responsibilities. The

amount of taxes paid isn’t included in reporting burden.

The time and money burden reported below includes all associated forms and schedules, across all tax return

preparation methods and employer reporting. They are national averages and don’t necessarily reflect a ““typical”

employer’s reporting burden. Most employers experience lower than average burden, with burden varying considerably

by the number of Forms W-2 that an employer files. For instance, the estimated average burden for an employer who

issues four Forms W-2 is 63 hours (15.8 hours x 4) and $2,304 ($576 x 4). The estimated average burden for a large

employer who issues 2,000 Forms W-2 is 800 hours (2,000 x 0.4) and $28,000 (2,000 x $14).

Annual Average Burden

Total Time (hours) Recordkeeping Time

(hours)

Time Spent on W-2

Activities (hours)

All Other Time

(hours)

Out-of-Pocket

Costs

Total Monetized

Burden*

Filers with Form 941 65 19 4 42 $2,710 $4,799

Filers with Form 943 57 16 6 35 $935 $1,955

Filers with Form 944 24 4 3 18 $368 $619

*Total monetized burden = Monetized hours + Out-of-pocket costs.

Annual Average Burden per Employee by Number of Employees (Form W-2 Count)

Number of Employees Total Time (hours) Out-of-Pocket Costs Total Monetized Burden*

All 10.7 $404 $700

1 to 5 15.8 $576 $998

6 to 10 5.9 $264 $444

11 to 25 4.4 $190 $327

26 to 50 3.5 $126 $237

51 to 100 2.7 $97 $185

101 to 250 1.8 $90 $159

251 to 500 1.3 $70 $119

501 to 1,000 0.8 $48 $79

Over 1,000 0.4 $14 $28

Filers with Form 941 10.5 $408 $705

Filers with Form 943 19.2 $269 $562

Filers with Form 944 12 $198 $334

*Total monetized burden = Monetized hours + Out-of-pocket costs.

Comments. If you have comments concerning the accuracy of these time estimates or suggestions for making Form

941 simpler, we would be happy to hear from you. You can send us comments from IRS.gov/FormComments. Or you can

send your comments to Internal Revenue Service, Tax Forms and Publications Division, 1111 Constitution Ave. NW,

IR-6526, Washington, DC 20224. Don’t send Form 941 to this address. Instead, see Where Should You File, earlier.

Instructions for Form 941 (Rev. 3-2024)