Form 941 filing is officially open! ExpressEfile is supporting Form 941 for the first quarter of 2021 and making it easy for businesses to meet their deadlines.
Not sure about the recent Form 941 changes or whether your business needs to file? Here is everything employers need to know to stay IRS compliant and file Form 941 by April 30, 2021.
What is Form 941?
Form 941, the Employer’s Quarterly Federal Tax Return, allows employers to report amounts withheld from employee paychecks for income, Social Security, and Medicare taxes each quarter. Employers file Form 941 four times a year to keep the IRS up to date.
For more on Form 941, visit this blog.
Who Needs to File Form 941?
Almost all businesses are required to file Form 941 every quarter. Employers who have one or more employees whose wages are subject to withholdings need to file.
There are a few types of employers who don’t need to file Form 941 for each quarter. Seasonal employers only need to file Form 941 for the quarters that they are actually paying employees. Employers of household employees and farming employees do not need to file Form 941. There are other IRS requirements they will need to meet instead.
IRS Changes to Form 941 for the First Quarter of 2021
The IRS has updated Form 941 a bunch of times over the past few quarters to reflect different developments in COVID-19 tax relief. The most recent update has to do with an August 2020 Presidential Memorandum that allowed employers to defer employee portions of Social Security taxes. This option was available between September 1, 2020 and December 31, 2020.
Social Security deferrals have not been extended into 2021. Following the end of the deferral period, the IRS updated Form 941. IRS Form 941 no longer asks employers to report Social Security deferral decisions for the first quarter of 2021.
Click here for more information about Form 941 changes for 2021 and line-by-line instructions for filing Form 941.
E-file Form 941 With ExpressEfile
ExpressEfile is proud to support Form 941 for the First Quarter of 2021! The first quarter Form 941 deadline is April 30, 2021.
When you e-file Form 941, you can complete your form in 3 simple steps:
- Enter your Information
- Review and fix any mistakes
- Transmit directly to the IRS
ExpressEfile offers the lowest price in the industry, starting at just $3.99/form. Your business gets great features like error checks, instant notifications on your return’s status, and friendly, U.S.-based support. You’ll be able to lower your risk of IRS rejection and meet your deadline easily.
Get started now and file the updated Form 941 for the first quarter of 2021!
