Form 941 (Employer’s Quarterly Federal Tax Return)

Form 941 is used by employers to report the quarterly payroll taxes they have withheld from employees’ wages, including federal income tax, Social Security, and Medicare taxes. It also reports the employer’s share of Social Security and Medicare taxes, along with any adjustments for sick pay, tips, or other taxable benefits. Employers are required to file Form 941 every quarter, with deadlines in April, July, October, and January. This form helps the IRS track the payroll taxes that have been collected and ensure that they are paid in a timely manner.