What are the filing requirements for Form 941, Employers Quarterly Federal Tax Return?
A. If you are a business employer who is not a farmer, you will file Form 941 to report wages you have paid, tips your employees have received, federal income tax withheld, social security and Medicare taxes withheld, your share of social security and Medicare taxes, and advance earned income credit (AEIC) payments. You must file for each calendar quarter, using a separate Form 941. Form 941 is due by the last day of the month following the end of the quarter. If your total taxes (line 13 of Form 941) are $500 or more for the quarter, you must deposit your tax liabilities at an authorized financial institution with Form 8109, Federal Tax Deposit Coupon, or by using the Electronic Federal Tax Payment System (EFTPS). If your total deposits of social security, Medicare, and withheld income taxes were more than $50,000 in 1995, you must make electronic deposits using EFTPS for all depository tax liabilities that occur after June 30, 1997. The due dates of your deposits are based on either
