Form 941 is the federal quarterly tax return employers generally use to report wages, federal income tax withheld, and Social Security and Medicare taxes.
Form 941 is the federal quarterly tax return employers generally use to report wages, federal income tax withheld, and Social Security and Medicare taxes.
Most employers that pay wages subject to federal payroll taxes file Form 941 each quarter. The return reconciles payroll tax information for the quarter, but filing the form is separate from making required tax deposits. Accurate payroll records help employers keep reported wages, withholding, deposits, and tax liability aligned.