Taxes For 2020: Where Do You Need To File IRS Form 941?

The second-quarter Form 941 deadline is July 31, 2020.

COVID-19 has changed running a business in ways that last year’s management advice articles could never have prepared us for. Scheduling has morphed into working out new plans to enforce social distancing on the job or accommodate for working from home, but some aspects of caring for your employees haven’t changed. Your Employer’s Quarterly Federal Tax Return is still due every quarter. 


When it comes to filing Form 941 for your second quarter, you have a couple of different options. The IRS recommends e-filing, but you can also paper file and mail your Form 941.


IRS Form 941

Form 941 is the Employer’s Quarterly Federal Tax Return. This form allows you to report any employment taxes you withheld from your employees’ taxes for income tax, Social Security, or Medicare during each quarter.

With all the pressures COVID-19 has placed on our businesses and our communities, the federal government has responded with tax relief in the form of refundable tax credits under the Families First Coronavirus Response Act (FFCRA) and the CARES Act. To reflect these credits, the IRS updated Form 941. IRS changes to Form 941 include 23 new data-entry fields. It’s important for your business to file the most recent version of this form when you meet your remaining 2020 deadlines. 

To get up to date on all the IRS changes, click here. Make sure you’re prepared to file the updated IRS Form 941 for the first time. Here are our top 5 tips


Form 941 Deadlines

Form 941 is due four times a year. The second-quarter deadline is July 31, 2020. 


How to Complete IRS Form 941

In order to file the newly updated IRS Form 941 for 2020, you can either download and print your form or access and complete it through an e-file provider. 


When you file with ExpressE-file, you simply select the correct form, indicate which quarter you are filing for, and fill in your information. The IRS recommends e-filing because it is the fastest way to process your form, and it also makes catching mistakes easier. Our software runs an internal audit, double-checking your form for errors before submitting it to the IRS. 


If your business chooses to paper file Form 941, you can visit the IRS website, print the correct form, and then fill it out manually on your own.


Visit this blog for more on IRS Form 941 deadline preparedness. 

For detailed instructions on how to complete Form 941, click here.


Submitting Form 941 to the IRS

When you e-file, your software provider will transmit your completed Form 941 to the IRS. Express E-file submits your information instantly and you can view the status of your return at any time. When the IRS reviews it, you’ll know immediately.


If you complete a paper Form 941, you can mail it to the IRS. Visit this blog to find out the correct address to mail your Form 941 to. The address will be different depending on which state your business is based in and whether you are mailing your Form 941 with or without a payment. 


Paper filing Form 941 is totally acceptable, but it’s important to take into consideration mailing costs, mailing lags, higher wait times, and having fewer safeguards against errors when you make your filing decision.

If you have any questions, ExpressE-file is here to help. We’ll guide you through your entire filing process and get your return to the IRS safely. When it comes to meeting your Form 941 deadline, your business’s well-being is our top priority.

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