Sample 941 Form

Sample 941 Form: What You Should Know

First-Quarter (January – March) Form 941 was filed for, and what period of time that is. In the “For Each Quarter/Year” portion of the form, specify if there are additional columns under the “Employee Business Information.” In this example, Form 941 for Fiscal years 2024 and 2024 is not filed until quarter of March. If your quarterly income is only for the quarter of March, and you want to file a form 941 in that quarter, enter the following in the “For Each Quarter/Year” portion of the tax form. If the “For Each Quarter/Year” portion of the form does not allow for reporting of the calendar quarter, select “Calendar” instead. Enter the amount paid by the employer, up to the total gross payroll for your business, in the “Amount Paid to Employee” field. Enter your payroll tax due at the bottom of the form. The total amount due in the “Amount Due to Employee” field should not exceed the “Amount Due to Customer” column. Example of Payroll Taxes for First Quarter of the Year. Employee's Business Employer Form 941, Employers' Quarterly Federal Tax Return (Form 941) First-Quarter (January – March) Payroll Taxes for Efficacy Assessment (First Quarter) Amount of Payroll Taxes to Employee (1.6% or 3.1%; if greater) Amount Due to Employee (Payroll Tax Due) Amount Due to Customer (Payroll Tax Due) Total Payroll Taxes Paid In this example, the payroll taxes paid by the employer are 2,200. Total taxes payable to the customer are 16,900. Subtract (1) from (2) to get the total amount due to the customer for payroll taxes paid and taxes due to the employer. The total amount paid to the employer for wages (the first 932) plus the total payroll tax paid by the employer and all the other taxes and interest should total 8,082. The total tax due to the employer is 6,962 plus 8,082 plus a 5 penalty for late filing for the payroll taxes paid by the business. Subtract the total of (3) and the penalty (5%) from (2) to get 1,939. Example of Payroll Taxes for First-Quarter of the Year.

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