How to Have A Worry-Free Form 941 Deadline

The Third Quarter Form 941 deadline is November 2, 2020! 

Today is your last chance to meet your Form 941 deadline, but we’re here to make sure you have everything you need. E-file Form 941 for your third quarter, and get the easiest, safest, and most affordable option for employers. 

Employers have to file Form 941 every quarter, but if you’re new to owning a business or have been letting a tax preparer do it for you, it can feel pretty overwhelming. With all the recent IRS changes, even the most seasoned pros have had a lot to adjust to. 

With the right support, filing IRS Form 941 can be an easy and straightforward way to take control, save yourself money, and take care of your business. Here are our simple Form 941 instructions for 2020.

What is Form 941?

Form 941 is the Employer’s Quarterly Federal Tax Return. Employers use this form to let the IRS know about federal taxes federal withheld from their employees’ paychecks.

Before you file: 

Get prepared to file Form 941 by gathering all your information. Here’s what you need to gather:

1- Business Details

  • Your Employer Identification Number (EIN)
  • Your Business’s Name
  • Your Business’s Address

2- Payroll Information

When you file Form 941, you’ll need to know how many employees you have on staff, who you have paid this quarter, the total amount you have paid your employees, and your taxable wages for Social Security and Medicare.

Be ready to report how much you ended up having to withhold from your employees’ wages this quarter for income taxes, Medicare, and Social Security. You’ll also have to report the total amount you deposited for employment taxes.

3- Information You Need For New Fields on Updated Form 941: 

Since the IRS updated Form 941 for the 3rd Quarter, you’ll also need to have information about your COVID-19 tax relief ready when you file. 

If Employee Retention Credit or credits for qualified sick and family leave wages have been a part of protecting your business during this time, you need to know what you received. If you requested an advance on credits with Form 7200 or deferred any portion of your employment taxes, don’t forget to include that information as well. Visit this blog for more on IRS From 7200.

Thanks to the new payroll tax deferment option, you can even defer the employee portion of your Social Security taxes. Click here for more information about IRS changes to Form 941, and be sure to have all those COVID-19 tax relief numbers on hand when you file.

Step-by-Step Instructions to Complete the 3rd Quarter Form 941 for 2020:

Step 1: Fill Out Your Form

Now that you know exactly what you need to report on Form 941, all you have to do is log in to your ExpressEfile Account, choose which quarter you’re filing for, and enter your information. It may seem like a lot, but it’s really just a few simple data-entry fields. 

We’ll walk you through entering basic employer information, employee count, wages, taxes withheld, schedule deposit, tax liability, and COVID-19 tax relief for the quarter in just a few minutes. If you don’t have an account with ExpressEfile, you can create one for free. 

Step 2: Pay Any Balance Due

You may not owe the IRS anything, but if you do, it’s easy to pay your balance. The IRS accepts EFW, EFTPS, and check or money order payments.

Electronic Funds Withdrawal (EFW): EFW is only available when you use an e-file provider. With ExpressEfile, you can pay easily and safely using this method.

The Electronic Federal Tax Payment System (EFTPS): EFTPS is the U.S. Department of Treasury’s electronic tax payment system. Create an account at or call 1-800-555-4477. It can take up to 10 business days to get all set up, so if you’re filing at the last minute, this may not be the best option.

Check or Money Order: You can make out a check or money order payable to the United States Treasury and mail it to the IRS.

Step 3: Sign, Review, and Transmit 

When you file Form 941 with ExpressEfile, you can e-sign your document using Form 8453-EMP or if you have an Online Signature PIN you can use it to sign your Form 941.

After you sign, our software will run an internal audit on all your information, checking for any errors that could cause the IRS to reject your return. You’ll be able to review all your information and easily correct any mistakes. Once you feel good about everything, you just click transmit and we’ll send your Form 941 directly to the IRS. 

Form 941 Support 

Now you know exactly what to report and how to complete your Form 941, but taking control of your filing process doesn’t mean filing alone. If you run into any questions, we are always here to help. Our support team is completely U.S.-based and you can always chat with us or email us for reliable, friendly assistance. click here to get detailed information about IRS Form 941 instructions.

Get started now and meet your third quarter Form 941 deadline easily.

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