Form 941 - Employer's QUARTERLY Federal Tax Return
What's New for 2011?
The
employee tax rate for social security is 4.2%. The employer tax rate for social
security remains unchanged at 6.2%. The Medicare tax rate is 1.45% each for
employers and employees. Do not withhold or pay social security tax after an
employee reaches $106,800 in social security wages for the year. There is no
limit on the amount of wages subject to Medicare tax.
A
new line has been added to Form 941 for reporting social security and Medicare
taxes on unreported tips. An employer now reports the amount of the taxes shown
on the Section 3121(q) Notice and Demand on line 5e of the employer’s Form 941
for the calendar quarter in which notice and demand is made. Previously, a
section 3121(q) liability was reported on the line for “Current quarter’s
adjustments for tips and group-term life insurance.”
The
qualified employer’s exemption for their share (6.2%) of social security tax on
wages/tips paid to qualified employees expired on December 31, 2010.
The
credit for COBRA premium assistance payments applies to premiums paid for
employees involuntarily terminated between September 1, 2008, and May 31, 2010,
and to premiums paid for up to 15 months. See COBRA Premium Assistance Payments in the form instructions.
The
option of receiving advance payroll payments of EIC is no longer available after
December 31, 2010. Individuals eligible for EIC in 2011 can still claim the
credit when they filer their federal income tax return. Individuals who
received advance payments of EIN in 200 must file a 2010 federal income tax
return.
Beginning
January 1, 2011, you must use electronic funds transfer to make all federal tax
deposits (such as deposits of employment tax, excise tax, and corporate income
tax). Forms 8109 and 8109-B, Federal Tax Deposit Coupon, cannot be used after
December 31, 2010. Generally, electronic funds transfers are made using the
Electronic Federal Tax Payment System (EFTPS). If you do not want to use EFTPS,
you can arrange for your tax professional, financial institution, payroll service,
or other trusted third party to make deposits on your behalf. EFTPS is a free
service provided by the Department of 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 (Circular E), Employer’s Tax
Guide (for use in 2011). To get more information about EFTPS or to enroll in
EFTPS, visit www.eftps.gov or call
1-800-555-44773 Additional information about EFTPS is also available in
Publication 966, The Secure Way to Pay Your Federal Taxes.
What to Report
Form
941 is filed to report all of the following amounts: 1) Wages you have paid. 2)
Tips your employees have received. 3) Federal income tax you withheld. 4) Both
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) Advance
earned income tax credit (EIC) payments. 7) Credit for COBRA premium assistance
payments. 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 other certain exceptions apply.
Due Dates
To Internal Revenue Service
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 |
January, February, March |
March 31 |
April 30 |
April, May, June |
June 30 |
July 31 |
July, August, September |
September 30 |
October 31 |
October, November, December |
December 31 |
January 31 |
*
If date shown falls on a Saturday, Sunday or legal holiday, the due date is the
next business day.
Where To File
Where you file depends on whether you include a payment with
your return. If you are located in:
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
Without a Payment Filing Address:
Department
of the Treasury
Internal Revenue Service
Cincinnati,
OH
45999-0005
With a Payment Filing
Address:
Internal
Revenue Service
P.O. Box 804522
Cincinnati,
OH
45280-4522
If you are located in:
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 or are a tax-exempt organization, Federal, State or Local
Government, or Indian Tribal Government
Without a Payment Filing Address:
Department
of the Treasury
Internal Revenue Service
Ogden,
UT
84201-0005
With a Payment Filing Address:
Internal
Revenue Service
P.O. Box 105083
Atlanta,
GA
30348-5083
If
the location of your legal residence, principal place of business, office, or
agency is outside the
United
States
, see the form instructions.
IRS Specific Form
941 Instructions
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