1 Number of employees who received wages, tips, or other compensation for the pay period including: June 12 (Quarter 2), Sept. 12 (Quarter 3), or . If changes in law require additional changes to Form 941, the form and/or these instructions may be revised. See Terminating a business in the General Instructions for Forms W-2 and W-3 for information about earlier dates for the expedited furnishing and filing of Forms W-2 when a final Form 941 is filed. The authorization will automatically expire 1 year from the due date (without regard to extensions) for filing your Form 941. Your financial institution may charge you a fee for payments made this way. If you don't follow these guidelines, we will generally consider Form 941 filed when it is actually received. For purposes of this credit, qualified sick leave wages and qualified family leave wages are wages for social security and Medicare tax purposes, determined without regard to the exclusions from the definition of employment under sections 3121(b)(1)(22), that an employer pays that otherwise meet the requirements of the EPSLA or Expanded FMLA. Part 1: Answer these questions for this quarter. If Rose Co. still has credit remaining after reducing its share of social security tax (up to $250,000) and Medicare tax for the third quarter, the remainder would be treated as a payroll tax credit against its share of social security tax (up to $250,000) and Medicare tax on wages paid in the fourth quarter. However, don't use EFW to make federal tax deposits. See Worksheet 2 to figure your credit. Services provided by your tax professional, financial institution, payroll service, or other third party may have a fee. Complete lines 26, 27, and 28 only if qualified family leave wages were paid this quarter of 2023 for leave taken after March 31, 2021, and before October 1, 2021. Any credit in excess of the remaining amount of the employer share of social security tax is refundable and reported on Form 941, line 13c. The nonrefundable portion of the credit is limited to the employer share of social security tax reported on Form 941, lines 5a and 5b, after that share is first reduced by any credit claimed against the employer share of social security tax on Form 8974 for the qualified small business payroll tax credit for increasing research activities, any credit to be claimed on Form 5884-C for the work opportunity credit for qualified tax-exempt organizations hiring qualified veterans, and/or any credit to be claimed on Form 5884-D for the disaster credit for qualified tax-exempt organizations. For more information on the credit for qualified sick and family leave wages, go to IRS.gov/PLC. If youre a third-party payer of sick pay that isn't an agent and you're claiming credits for amounts paid to your employees, enter the employer share of Medicare tax included on Form 941, Part 1, If you received a Section 3121(q) Notice and Demand during the quarter, enter the amount of the employer share of Medicare tax from the notice, Enter the amount from Form 8974, line 16, for this quarter. Any remaining credit, after reducing the employer share of social security tax and the employer share of Medicare tax, is then carried forward to the next quarter. For leave taken after March 31, 2021, and before October 1, 2021, the leave can be granted for any other reason provided by the EPSLA, as amended for purposes of the ARP. Leave blank any data field (except lines 1, 2, and 12) with a value of zero. Multiply line 2a(iv) by 6.2% (0.062). 15 (sp) that is a Spanish-language version of Pub. The nonrefundable portion of the credit is limited to the employer share of Medicare tax reported on Form 941, line 5c, after that share is first reduced by any credit claimed against the employer share of Medicare tax on Form 8974 for the qualified small business payroll tax credit for increasing research activities. You must make required deposits according to your deposit schedule. Filing a Form 941 with an incorrect EIN or using another business's EIN may result in penalties and delays in processing your return. 2. Generally, we won't ask about unfiled returns if at least one taxable return is filed each year. See Pub. See the instructions for, Enter all tips your employees reported to you during the quarter until the total of the tips and taxable wages, including wages reported on line 5a, qualified sick leave wages reported on line 5a(i), and qualified family leave wages reported on line 5a(ii), for an employee reach $160,200 for the year. "-HvPNbL$a4'2**\hD;Aaa ,F|e548Z$5a\"M 3634 0 obj If line 12 is more than line 13g, enter the difference on line 14. Prior revisions of Form 941 are available at IRS.gov/Form941 (select the link for All Form 941 Revisions under Other Items You May Find Useful). Employees may use Form 4070 (available only in Pub. 2022 Form 941: Employer's Quarterly Federal Tax Return 2021 Form 941 . %%EOF For example, enter -10.59 instead of (10.59). However, if your software only allows for parentheses in entering negative amounts, you may use them. Include all tips your employees reported during the quarter, even if you were unable to withhold the employee tax of 1.45%. For more information and rules about federal tax deposits, see Depositing Your Taxes, earlier, and section 11 of Pub. What's New Social security and Medicare tax for 2023. See the instructions for, Enter the total wages, including qualified sick leave wages and qualified family leave wages paid this quarter of 2023 for leave taken after March 31, 2021, and before October 1, 2021; sick pay; and taxable fringe benefits subject to social security taxes you paid to your employees during the quarter. Enter the total wages, including qualified sick leave wages and qualified family leave wages paid this quarter of 2023 for leave taken after March 31, 2021, and before October 1, 2021; sick pay; and taxable fringe benefits subject to social security taxes you paid to your employees during the quarter. The employer must include this amount on the appropriate line of the record of federal tax liability (Part 2 of Form 941 for a monthly schedule depositor or Schedule B (Form 941) for a semiweekly schedule depositor). See the instructions for, Enter the qualified taxable (subject to social security tax) family leave wages you paid this quarter of 2023 to your employees for leave taken after March 31, 2020, and before April 1, 2021. q kX}.Hwe`bdV8I0 G & 15. Refundable Portion of Credit for Qualified Sick and Family Leave Wages for Leave Taken After March 31, 2021, and Before October 1, 2021, 13g. For more information on the credit for qualified sick and family leave wages, go to IRS.gov/PLC. What's New Social security and Medicare tax for 2023. Part 4:May We Speak With Your Third-Party Designee? Subtract line 11g from line 10 and enter the result on line 12. Qualified sick leave wages reported on Form 941, Part 1, Qualified sick leave wages included on Form 941, Part 1, line 5c, but not included on Form 941, Part 1, line 5a(i), column 1, because the wages reported on that line were limited by the social security wage base, Total qualified sick leave wages. To avoid a penalty, you must pay any amount you owe in full with a timely filed return or you must deposit any amount you owe before the due date of the return. If you want to expand your designee's authorization, see Pub. Pubs. Penalties and interest are charged on taxes paid late and returns filed late at a rate set by law. For the latest information about developments related to Form 941 and its instructions, such as legislation enacted after they were published, go to IRS.gov/Form941. Employers eligible to claim the credit for qualified sick and family leave wages paid this quarter of 2023 for leave taken after March 31, 2020, and before October 1, 2021, can reduce their deposits by the amount of their anticipated credit. If the principal business was created or organized outside of the United States or U.S. territories, you may also apply for an EIN by calling 267-941-1099 (toll call). Generally, an EFT is made using the Electronic Federal Tax Payment System (EFTPS). During this period, employees may use other forms of paid leave, such as qualified sick leave, accrued sick leave, annual leave, or other paid time off. 1032, available at IRS.gov/irb/2012-26_IRB#RR-2012-18. Who should file Form 941 2022? For more information on paying your taxes with a credit or debit card, go to, You may be eligible to apply for an installment agreement online if you can't pay the full amount of tax you owe when you file your return. At the end of the annual review, we notify you if your payment frequency changes. Form 941-X is an adjusted return or claim for refund and is filed separately from Form 941. Do whatever you want with a Instructions for Form 941 (Rev. Any credit for qualified sick and family leave wages paid this quarter of 2023 for leave taken after March 31, 2021, and before October 1, 2021, that is remaining at the end of the quarter because it exceeds the employer share of Medicare tax for the quarter is claimed on line 13e as a refundable credit. The amount of collectively bargained apprenticeship program contributions allocated to qualified sick leave wages and/or qualified family leave wages in a quarter is the apprenticeship program contribution rate (expressed as an hourly rate) multiplied by the number of hours qualified sick leave wages and/or qualified family leave wages were provided to employees covered under the collective bargaining agreement during the quarter. Complete and mail Form 8822-B to notify the IRS of a business address or responsible party change. Zl[l[ZZZ oDN_|Lr2L/3_qH6;yV*E^n &L0i6^xv'biVM&EHilBG`iu0>UsO4 In completing line 16 or Schedule B (Form 941), you take into account the payroll tax credit against the liability for the employer share of social security tax starting with the first payroll payment of the quarter that includes payments of wages subject to social security tax to your employees until you use up to $250,000 of credit against the employer share of social security tax and you then take into account any remaining payroll tax credit against the liability for the employer share of Medicare tax starting with the first payroll payment of the quarter that includes payments of wages subject to Medicare tax to employees. To avoid a penalty, you must pay any amount due in full with a timely filed return or you must deposit any amount you owe by the due date of the return. Step 2: Tell us about your business. For more information, see What if you can't pay in full, later. 15, Pub. This is . Rose Co. elected to take the qualified small business payroll tax credit for increasing research activities on Form 6765. The portion of the credit used against payroll taxes is allowed in the first calendar quarter beginning after the date that the qualified small business filed its income tax return. If you reported more than $50,000 of taxes for the lookback period, youre a semiweekly schedule depositor. Other third-party payers that file aggregate Forms 941, such as non-certified PEOs, must complete and file Schedule R (Form 941) if they have clients that are claiming the qualified small business payroll tax credit for increasing research activities, and/or the credit for qualified sick and family leave wages. However, don't use EFW to make federal tax deposits. Current quarter's adjustments to social security and Medicare taxes for fractions of cents, sick pay, tips, and group-term life insurance. A son or daughter must generally have been under 18 years of age or incapable of self-care because of a mental or physical disability. 15, or go to IRS.gov/CorrectingEmploymentTaxes. Your deposit schedule isn't determined by how often you pay your employees. The credit for qualified sick leave wages and qualified family leave wages is increased to cover the qualified health plan expenses that are properly allocable to the qualified leave wages for which the credit is allowed. 5a5e. If your net adjustment during a month is negative and it exceeds your total tax liability for the month, don't enter a negative amount for the month. 82, available at, Electronic Federal Tax Payment System (EFTPS), Instructions for Form 941 - Introductory Material, Requesting To File Forms 941 Instead of Form 944, or Requesting To File Form 944 Instead of Forms 941. The IRS issues a Section 3121(q) Notice and Demand to advise an employer of the amount of tips received by employees who failed to report or underreported tips to the employer. If, however, you've . You can view, download, or print most of the forms, instructions, and publications you may need at IRS.gov/Forms. Form 8974 is used to determine the amount of the credit that can be used in the current quarter. Then reduce the liability for each successive payroll payment in the quarter until the nonrefundable portion of the credit is used. Enter all wages, including qualified sick leave wages paid this quarter of 2023 and qualified family leave wages paid this quarter of 2023; tips; sick pay; and taxable fringe benefits that are subject to Additional Medicare Tax withholding. Is experiencing any other substantially similar condition specified by the U.S. Department of Health and Human Services, which for leave taken after March 31, 2021, and before October 1, 2021, includes to accompany an individual to obtain immunization related to COVID-19, or to care for an individual who is recovering from any injury, disability, illness, or condition related to the immunization. Instructions available at tax.illinois.gov. For leave taken after March 31, 2020, and before April 1, 2021, the total qualified family leave wages cant exceed $200 per day or $10,000 in the aggregate per employee. Intro File Taxes Properly IRS Form 941 Line-by-Line Instructions 2023: How to File Quarterly Federal Tax Return TAXES S2E70 The Awesome S'witty Kiwi Show 32K subscribers Subscribe 5.5K. A unique nine-digit EIN is assigned to all corporations, partnerships, and some sole proprietors. For example, if youre a sole proprietor, enter Haleigh Smith on the Name line and Haleigh's Cycles on the Trade name line. The IRS matches amounts reported on your four quarterly Forms 941 with Form W-2 amounts totaled on your yearly Form W-3, Transmittal of Wage and Tax Statements. The amount of qualified health plan expenses generally includes both the portion of the cost paid by the employer and the portion of the cost paid by the employee with pre-tax salary reduction contributions. You may pay the amount with Form 941 or you may deposit the amount. Complete line 13e only if qualified sick leave wages and/or qualified family leave wages were paid this quarter of 2023 for leave taken after March 31, 2021, and before October 1, 2021. Do not use this form to amend a previously filed Form CT941HHE. 9. Employers can receive both a Small Business Interruption Loan under the Paycheck Protection Program (PPP) and the credit for qualified sick and family leave wages; however, employers can't receive both loan forgiveness and a credit for the same wages. 7) for reference). This amount is also entered on Worksheet 1, Step 2, line 2f. The third-party payer isn't entitled to the credits with respect to the wages and taxes it remits on your behalf (regardless of whether the third party is considered an "employer" for other purposes). See Box 1Wages, tips, other compensation in the General Instructions for Forms W-2 and W-3 for details. 15-A for more information about sick pay reporting. Don't staple Form 941-V or your payment to Form 941 (or to each other). For details on the deposit rules, see section 11 of Pub. Combine the amounts shown on lines 69 and enter the result on line 10. If you would mail your return filed without a payment to Ogden, as shown under Where Should You File , later, send your request to the Ogden address shown above. For more information on making federal tax deposits, see section 11 of Pub. In Part 3, answer only those questions that apply to your business. For information on types of wages subject to social security taxes, see section 5 of Pub. If youre a paid preparer, enter your Preparer Tax Identification Number (PTIN) in the space provided. See the instructions for line 8 for an adjustment that you may need to make on Form 941 for sick pay. You don't have to pay if line 14 is under $1. You must complete all three pages of Form 941 and sign on page 3. 1122, available at IRS.gov/irb/2021-18_IRB#NOT-2021-24. The COVID-19 related credit for qualified sick and family leave wages is limited to leave taken after March 31, 2020, and before October 1, 2021. To get more information about EFTPS or to enroll in EFTPS, go to, If you fail to submit a deposit transaction on EFTPS by 8 p.m. Eastern time the day before the date a deposit is due, you can still make your deposit on time by using the Federal Tax Collection Service (FTCS) to make a same-day wire payment. If youre a third-party payer of sick pay and not an agent of the employer, don't include sick pay that you paid to policyholders' employees here if you gave the policyholders timely notice of the payments. General Instructions: Understanding Form 941-X What Is the Purpose of Form 941-X? A paid preparer must sign Form 941 and provide the information in the Paid Preparer Use Only section of Part 5 if the preparer was paid to prepare Form 941 and isn't an employee of the filing entity. All wages that are subject to Medicare tax are subject to Additional Medicare Tax withholding if paid in excess of the $200,000 withholding threshold. This amount is also entered on Worksheet 2, Step 2, line 2h. If you hire employees seasonallysuch as for summer or winter onlycheck the box on line 18. Also attach a statement to your return showing the name of the person keeping the payroll records and the address where those records will be kept. endstream The apprenticeship program contribution rate is the contribution rate that the employer is obligated to pay under the terms of a collective bargaining agreement for benefits under a registered apprenticeship program, as the rate is applied to contribution base units, as defined by section 4001(a)(11) of ERISA. 830, available at, Qualified tax-exempt organizations that hire eligible unemployed veterans may be able to claim the work opportunity tax credit against their payroll tax liability using Form 5884-C. For more information, go to, If you discover an error on a previously filed Form 941, or if you otherwise need to amend a previously filed Form 941, make the correction using Form 941-X. This credit is claimed on Form 5884-D (not on Form 941). For leave taken after March 31, 2021, and before October 1, 2021, the limit resets and the total qualified family leave wages can't exceed $200 per day or $12,000 in the aggregate per employee. Qualified health plan expenses allocable to qualified sick leave wages (Form 941, Part 3, Employer share of Medicare tax on qualified sick leave wages. If you received a Section 3121(q) Notice and Demand for tax due on unreported tips (Letter 3263 or Letter 4520) during the quarter, you report the amount for the employer share of social security tax and Medicare tax on Form 941, line 5f. 3631 0 obj Use the Cross or Check marks in the top toolbar to select your answers in the list boxes. If you don't receive this notice, you must file Form 944 for calendar year 2023. The amount of qualified health plan expenses generally includes both the portion of the cost paid by the employer and the portion of the cost paid by the employee with pre-tax salary reduction contributions. If youre not sure your total tax liability for the current quarter will be less than $2,500 (and your liability for the prior quarter wasn't less than $2,500), make deposits using the semiweekly or monthly rules so you won't be subject to failure-to-deposit (FTD) penalties. For more information about exempt wages, see section 15 of Pub. Don't file Schedule B (Form 941) with your Form 941 if youre a monthly schedule depositor. Enter dollars to the left of the preprinted decimal point and cents to the right of it. If you work for a firm, enter the firm's name and the EIN of the firm. The draft Form 941, which has a March 2022 revision date, contained several changes when compared with the version in effect for the second through fourth quarters of 2021. Use IRS e-file, if possible. 2022 Form IL-941 - Illinois Withholding Income Tax Return Author: Illinois Department Of Revenue 15-A. Line 14 - Calculate balance due, if any. The amounts entered on line 16 are a summary of your monthly tax liability, not a summary of deposits you made. 15, or go to, For more information on making federal tax deposits, see section 11 of Pub. Respond to certain IRS notices that youve shared with your designee about math errors and return preparation. Give us any information that is missing from your return. For information on the employment tax treatment of fringe benefits, see Pub. No paper. Don't send Form 941 or any payments to the SSA. 3767 0 obj Use a minus sign (if possible) to show an adjustment that decreases the total taxes shown on line 6 instead of parentheses. Add lines 13a, 13c, and 13e. If line 15 is under $1, we will send a refund or apply it to your next return only if you ask us in writing to do so. For more information on paying with a timely filed return, see the instructions for line 14, later. 426, available at IRS.gov/irb/2017-03_IRB#RP-2017-14. . Stop paying social security tax on and entering an employee's wages on line 5a(i) when the employee's taxable wages, including wages reported on line 5a, qualified sick leave wages reported on line 5a(i), qualified family leave wages reported on line 5a(ii), and tips, reach $160,200 for the year. Additional Medicare Tax is only imposed on the employee. Leave the Trade name line blank if it is the same as your Name.. 06/29/2022 Form 941-X (PR) Adjusted Employer's Quarterly Federal Tax Return or Claim for Refund (Puerto Rico Version) 0422 06/29/2022 Inst 941-X . Securely download your document with other editable templates, any time, with PDFfiller. Multiply line 2e(ii) by 1.45% (0.0145). For more information about a CPEOs requirement to file electronically, see Rev. The $100,000 tax liability threshold requiring a next-day deposit is determined before you consider any reduction of your liability for nonrefundable credits. Read the separate instructions before you complete Form 941. 15 for details. You must receive written notice from the IRS to file Forms 941 instead of Form 944 before you may file these forms. Qualified small business payroll tax credit for increasing research activities (line 11a). Form SS-4. File your fully completed Form 941 on time. If a deposit is required to be made on a day that isn't a business day, the deposit is considered timely if it is made by the close of the next business day. Also include sick pay paid by a third party that isn't your agent (for example, an insurance company) if you were given timely notice of the payments and the third party transferred liability for the employer's taxes to you. No software installation. For leave taken after March 31, 2021, and before October 1, 2021, the credit for qualified sick and family leave wages is reduced by the amount of the credit allowed under section 41 (for the credit for increasing research activities) with respect to wages taken into account for determining the credit for qualified sick and family leave wages; and any wages taken into account in determining the credit for qualified sick and family leave wages can't be taken into account as wages for purposes of the credits under sections 45A, 45P, 45S, and 51. Rose Co. completes Schedule B (Form 941) by reducing the amount of liability entered for the first payroll payment in the third quarter of 2023 that includes wages subject to social security tax by the lesser of (1) its share of social security tax (up to $250,000) on the wages, or (2) the available payroll tax credit. If you would mail your return filed without a payment to Kansas City, send your request to the address for Cincinnati shown above. Total Deposits and Refundable Credits, Part 2:Tell Us About Your Deposit Schedule and Tax Liability for This Quarter. For more information, see the line 16 instructions, later. You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. If you used an EIN (including a prior owner's EIN) on Form 941 that is different from the EIN reported on Form W-3, see Box hOther EIN used this year in the General Instructions for Forms W-2 and W-3. If changes in law require additional changes to Form 941, the form and/or these . Finalized versions of the 2022 Form 941, its instructions, and schedules were issued Feb. 28 by the Internal Revenue Service. These qualified health plan expenses are amounts paid or incurred by the employer to provide and maintain a group health plan but only to the extent such amounts are excluded from the employees' income as coverage under an accident or health plan. Qualified tax-exempt organizations that hire eligible unemployed veterans may be able to claim the work opportunity tax credit against their payroll tax liability using Form 5884-C. For more information, go to IRS.gov/WOTC. The Inflation Reduction Act of 2022 (the IRA) increases the election amount to $500,000 for tax years beginning after December 31, 2022. Qualified family leave wages for leave taken after March 31, 2021, and before October 1, 2021 (Form 941, Part 3, Qualified family leave wages included on Form 941, Part 3, line 26, that were not included as wages reported on Form 941, Part 1, lines 5a and 5c, because the qualified family leave wages were excluded from the definition of employment under sections 3121(b)(1)(22), Qualified family leave wages included on Form 941, Part 3, line 26, that were not included as wages reported on Form 941, Part 1, line 5a, because the qualified family leave wages were limited by the social security wage base. 15) on this line. Part 1: Answer these questions for this quarter. Enter negative amounts using a minus sign (if possible). Instructions for Form 941-SS, Employer's Quarterly Federal Tax Return - American Samoa, Guam, the Commonwealth of the Northern Mariana Islands, and the U.S. Virgin Islands . CPEOs must generally file Form 941 and Schedule R (Form 941), Allocation Schedule for Aggregate Form 941 Filers, electronically. Letter 3263 or Letter 4520 includes an attachment that shows the employer share of social security tax. Postal Service on or before the due date, or sent by an IRS-designated private delivery service (PDS) on or before the due date. Cash tips include tips paid by cash, check, debit card, and credit card. You remain responsible if the third party fails to perform any required action. If your total taxes after adjustments and nonrefundable credits (line 12) are $2,500 or more for the current quarter and the prior quarter. For religious exemptions, see section 4 of Pub. 15 for more information. Complete all information and sign Form 941. Pub. You may also apply for an EIN by faxing or mailing Form SS-4 to the IRS. Add lines 2e and 2e(i), Qualified family leave wages excluded from the definition of employment under sections 3121(b)(1)(22). Line 2 - Enter total wages, tips, and other compensation (like . The social security wage base limit is $160,200. To become and remain certified under the certification program, certified professional employer organizations (CPEOs) must meet various requirements described in sections 3511 and 7705 and related published guidance. Instead, information specific to agricultural employers and employers in the U.S. territories will be included in Pub. Beginning with the first quarter of 2023, the qualified small business payroll tax credit for increasing research activities is first used to reduce the employer share of social security tax (up to $250,000) for the quarter and any remaining credit is then used to reduce the employer share of Medicare tax for the quarter until it reaches zero. Under an installment agreement, you can pay what you owe in monthly installments. 963, Federal-State Reference Guide.