Overview

Federal Form 941, the employer's quarterly federal tax return, is a tax form for reporting the following:

  • Employee wages you have paid
  • Tips your employees have received
  • Federal income tax you withheld
  • Both the employer's and the employee's share of Social Security and Medicare taxes
  • Current quarter's adjustments to Social Security and Medicare taxes for fractions of cents, sick pay, tips, and group term-life insurance
  • Prior quarter's adjustments to payroll taxes

Assumptions

You have an active Quickbooks Payroll Standard or Enhanced payroll subscription. If you have a Quickbooks Desktop Payroll Assisted subscription, Intuit prepares and files this return for you.

Details

Note: Do not use Form 941 to report backup withholding or income tax withholding for non-paychecks such as pensions, annuities, and gambling winnings. Report these types of withholding on Form 945 (Annual Return of Withheld Federal Income Tax).

Form 941 is filed quarterly on a calendar-year basis. This form is due on the end of the month following the end of each quarter (1st quarter 4/30, 2nd quarter 7/31, 3rd quarter 10/31, and 4th quarter 01/31 of the following year).

To create Form 941 and Schedule B in QuickBooks Desktop:

  1. In the File Forms section, select Quarterly Form 941/Sch. B - Employer's Quarteryly Federal Tax Return.
  2. Click File Form.
  3. Review the SELECT FILING PERIOD quarter, and update if necessary.
  4. Click OK.

For more details about preparing Form 941, refer to the instructions in knowledgebase article Prepare and print Form 941, Schedule B, and Form 940. These instructions are also for printing year-end forms.

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Prepare and print Form 941, Schedule B, and Form 940.