Who is required to file Form 941 Quarterly Payroll Tax Returns/ Generally speaking, based on the current IRS tax rules, Employers are required to use Form 941 to report the following amounts that have been paid to their employees as follows;
1.Any Wages paid to their employees.
2.Any tips that have been received by their employees.
3.Any amounts of Federal income tax has been withheld from an employees wages.
4.Any amounts that have been withheld from the employer's and the employee's share of social security and Medicare taxes.
5.Current quarter's adjustments to social security and Medicare taxes for fractions of cents, sick pay, tips, and group-term life insurance.
6.Any amounts that have been paid for advance earned income tax credit (EIC) payments to their employees.
7.Any Credit for COBRA premium assistance payments that have been paid to employees. |