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                                                                                                        Department of the Treasury
                                                                                                        Internal Revenue Service
Instructions for Form 941

(Rev. March 2024)
Employer's QUARTERLY Federal Tax Return

Section references are to the Internal Revenue Code                          3131, 3132, and 3133 of the Internal Revenue Code, as 
unless otherwise noted.                                                      enacted under the American Rescue Plan Act of 2021 (the 
                                                                             ARP), for leave taken after March 31, 2021, and before 
Contents                                                              Page
                                                                             October 1, 2021, have expired. However, employers that 
Reminders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
                                                                             pay qualified sick and family leave wages in 2024 for leave 
General Instructions: . . . . . . . . . . . . . . . . . . . . . . . . .   4  taken after March 31, 2020, and before October 1, 2021, 
Purpose of Form 941           . . . . . . . . . . . . . . . . . . . . .   4  are eligible to claim a credit for qualified sick and family 
Who Must File Form 941? . . . . . . . . . . . . . . . . . .               4  leave wages in 2024. Effective for tax periods beginning 
When Must You File?           . . . . . . . . . . . . . . . . . . . . .   5  after December 31, 2023, the lines used to claim the 
How Should You Complete Form 941? . . . . . . . . .                       6  credit for qualified sick and family leave wages have been 
Where Should You File?            . . . . . . . . . . . . . . . . . . .   7  removed from Form 941 because it would be extremely 
                                                                             rare for an employer to pay wages in 2024 for qualified 
Depositing Your Taxes . . . . . . . . . . . . . . . . . . . . .           7  sick and family leave taken after March 31, 2020, and 
What About Penalties and Interest?                . . . . . . . . . . .   8  before October 1, 2021. Instead, if you're eligible to claim 
Adjustment of Tax on Tips . . . . . . . . . . . . . . . . . .             8  the credit for qualified sick and family leave wages 
Specific Instructions: . . . . . . . . . . . . . . . . . . . . . . . . .  8  because you paid the wages in 2024 for an earlier 
Part 1: Answer These Questions for This                                      applicable leave period, file Form 941-X, Adjusted 
Quarter       . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   8  Employer's QUARTERLY Federal Tax Return or Claim for 
Part 2: Tell Us About Your Deposit Schedule                                  Refund, after filing Form 941, to claim the credit for 
and Tax Liability for This Quarter                . . . . . . . . . .     12 qualified sick and family leave wages paid in 2024. Filing a 
                                                                             Form 941-X before filing a Form 941 for the quarter may 
Part 3: Tell Us About Your Business               . . . . . . . . . .     13
                                                                             result in errors or delays in processing your Form 941-X.
Part 4: May We Speak With Your Third-Party 
Designee? . . . . . . . . . . . . . . . . . . . . . . . . . .             13 Reminders
Part 5: Sign Here (Approved Roles) . . . . . . . . . .                    14
                                                                                     Use the March 2024 revision of Form 941 to report 
How To Get Forms, Instructions, and Publications . . .                    14 !       taxes for the first quarter of 2024; don't use an 
                                                                             CAUTION earlier revision to report taxes for 2024. At this 
Future Developments                                                          time, the IRS expects the March 2024 revision of Form 
                                                                             941 and these instructions to also be used for the second, 
For the latest information about developments related to                     third, and fourth quarters of 2024. If changes in law require 
Form 941 and its instructions, such as legislation enacted                   additional changes to Form 941, the form and/or these 
after they were published, go to IRS.gov/Form941.                            instructions may be revised. Prior revisions of Form 941 
                                                                             are available at IRS.gov/Form941 (select the link for “All 
What's New                                                                   Form 941 Revisions” under “Other Items You May Find 
                                                                             Useful”).
Social security and Medicare taxes for 2024.                    The 
social security tax rate is 6.2% each for the employee and                           Unless otherwise noted, references throughout 
employer. The social security wage base limit is $168,600.                   TIP     these instructions to Form W-2 include Forms 
The Medicare tax rate is 1.45% each for the employee                                 W-2AS, W-2CM, W-2GU, W-2VI, and 499R-2/
and employer, unchanged from 2023. There is no wage                          W-2PR; references to Form W-2c include Form 
base limit for Medicare tax.                                                 499R-2c/W-2cPR; references to Form W-3 include Form 
Social security and Medicare taxes apply to the wages                        W-3SS and Form W-3 (PR); and references to Form W-3c 
of household workers you pay $2,700 or more in cash                          include Form W-3C (PR).
wages in 2024. Social security and Medicare taxes apply 
to election workers who are paid $2,300 or more in cash                      Qualified small business payroll tax credit for in-
or an equivalent form of compensation in 2024.                               creasing research activities. For tax years beginning 
                                                                             before January 1, 2023, a qualified small business may 
The COVID-19 related credit for qualified sick and                           elect to claim up to $250,000 of its credit for increasing 
family leave wages is limited to leave taken after                           research activities as a payroll tax credit. The Inflation 
March 31, 2020, and before October 1, 2021, and may                          Reduction Act of 2022 (the IRA) increases the election 
no longer be claimed on Form 941.               Generally, the               amount to $500,000 for tax years beginning after 
credit for qualified sick and family leave wages, as                         December 31, 2022. The payroll tax credit election must 
enacted under the Families First Coronavirus Response                        be made on or before the due date of the originally filed 
Act (FFCRA) and amended and extended by the                                  income tax return (including extensions). The portion of 
COVID-related Tax Relief Act of 2020, for leave taken after                  the credit used against payroll taxes is allowed in the first 
March 31, 2020, and before April 1, 2021, and the credit                     calendar quarter beginning after the date that the qualified 
for qualified sick and family leave wages under sections 

Jan 11, 2024                                                          Cat. No. 14625L

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small business filed its income tax return. The election 2024 withholding tables. The federal income tax
and determination of the credit amount that will be used withholding tables are included in Pub. 15-T, Federal
against the employer’s payroll taxes are made on Form Income Tax Withholding Methods.
6765, Credit for Increasing Research Activities. The
amount from Form 6765, line 44, must then be reported Certification program for professional employer or-
on Form 8974, Qualified Small Business Payroll Tax Credit ganizations (PEOs). The Stephen Beck, Jr., ABLE Act
for Increasing Research Activities. of 2014 required the IRS to establish a voluntary
Starting in the first quarter of 2023, the payroll tax credit certification program for PEOs. PEOs handle various
is first used to reduce the employer share of social payroll administration and tax reporting responsibilities for
security tax up to $250,000 per quarter and any remaining their business clients and are typically paid a fee based on
credit reduces the employer share of Medicare tax for the payroll costs. To become and remain certified under the
quarter. Any remaining credit, after reducing the employer certification program, certified professional employer
share of social security tax and the employer share of organizations (CPEOs) must meet various requirements
Medicare tax, is then carried forward to the next quarter. described in sections 3511 and 7705 and related
Form 8974 is used to determine the amount of the credit published guidance. Certification as a CPEO may affect
that can be used in the current quarter. The amount from the employment tax liabilities of both the CPEO and its
Form 8974, line 12 or, if applicable, line 17, is reported on customers. A CPEO is generally treated for employment
line 11. For more information about the payroll tax credit, tax purposes as the employer of any individual who
see IRS.gov/ResearchPayrollTC. Also see Adjusting tax performs services for a customer of the CPEO and is
liability for the qualified small business payroll tax credit for covered by a contract described in section 7705(e)(2)
increasing research activities (line 11), later. between the CPEO and the customer (CPEO contract),
but only for wages and other compensation paid to the
Forms 941-SS and 941-PR discontinued after 2023. individual by the CPEO. To become a CPEO, the
Form 941-SS, Employer’s QUARTERLY Federal Tax organization must apply through the IRS Online
Return—American Samoa, Guam, the Commonwealth of Registration System. For more information or to apply to
the Northern Mariana Islands, and the U.S. Virgin Islands; become a CPEO, go to IRS.gov/CPEO.
and Form 941-PR, Planilla para la Declaración Federal
CPEOs must generally file Form 941 and Schedule R
TRIMESTRAL del Patrono, were discontinued after the
(Form 941), Allocation Schedule for Aggregate Form 941
fourth quarter of 2023. Instead, employers in the U.S.
Filers, electronically. For more information about a CPEO’s
territories file Form 941 or, if you prefer your form and
requirement to file electronically, see Rev. Proc. 2023-18,
instructions in Spanish, you can file new Form 941 (sp).
2023-13 I.R.B. 605, available at IRS.gov/irb/
Pubs. 51, 80, and 179 discontinued after 2023. Pub. 2023-13_IRB#REV-PROC-2023-18.
51, Agricultural Employer’s Tax Guide; Pub. 80, Federal
Outsourcing payroll duties. Generally, as an employer,
Tax Guide for Employers in the U.S. Virgin Islands, Guam,
you're responsible to ensure that tax returns are filed and
American Samoa, and the Commonwealth of the Northern
deposits and payments are made, even if you contract
Mariana Islands; and Pub. 179, Guía Contributiva Federal
with a third party to perform these acts. You remain
para Patronos Puertorriqueños, were discontinued for tax
responsible if the third party fails to perform any required
years beginning after December 31, 2023. Instead,
action. Before you choose to outsource any of your payroll
information specific to agricultural employers and
and related tax duties (that is, withholding, reporting, and
employers in the U.S. territories will be included in Pub.
paying over social security, Medicare, FUTA, and income
15, Employer's Tax Guide. For tax year 2024, there is a
taxes) to a third-party payer, such as a payroll service
new Pub. 15 (sp) that is a Spanish-language version of
provider or reporting agent, go to IRS.gov/
Pub. 15.
OutsourcingPayrollDuties for helpful information on this
Forms in Spanish. Many forms and instructions topic. If a CPEO pays wages and other compensation to
discussed in these instructions have Spanish-language an individual performing services for you, and the services
versions available for employers and employees. Some are covered by a CPEO contract, then the CPEO is
examples include Form 941 (sp), Form 944 (sp), Form generally treated for employment tax purposes as the
SS-4 (sp), Form W-4 (sp), and Form W-9 (sp). Although employer, but only for wages and other compensation
these instructions don't reference Spanish-language paid to the individual by the CPEO. However, with respect
forms and instructions in each instance that one is to certain employees covered by a CPEO contract, you
available, you can see Pub. 15 (sp) and go to IRS.gov to may also be treated as an employer of the employees
determine if a Spanish-language version is available. and, consequently, may also be liable for federal
Payroll tax credit for certain tax-exempt organiza- employment taxes imposed on wages and other
tions affected by qualified disasters. Section 303(d) of compensation paid by the CPEO to such employees. For
the Taxpayer Certainty and Disaster Tax Relief Act of 2020 more information on the different types of third-party payer
allows for a payroll tax credit for certain tax-exempt arrangements, see section 16 of Pub. 15.
organizations affected by certain qualified disasters not Aggregate Form 941 filers. Approved section 3504
related to COVID-19. This credit is claimed on Form agents and CPEOs must complete and file Schedule R
5884-D (not on Form 941). Form 5884-D is filed after the (Form 941) when filing an aggregate Form 941. Aggregate
Form 941 for the quarter for which the credit is being Forms 941 are filed by agents approved by the IRS under
claimed has been filed. For more information about this section 3504. To request approval to act as an agent for
credit, go to IRS.gov/Form5884D. an employer, the agent files Form 2678 with the IRS

2 Instructions for Form 941 (Rev. 3-2024)

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unless you're a state or local government agency acting To contact EFTPS using Telecommunications Relay
as an agent under the special procedures provided in Rev. Services (TRS) for people who are deaf, hard of hearing,
Proc. 2013-39, 2013-52 I.R.B. 830, available at or have a speech disability, dial 711 and then provide the
IRS.gov/irb/2013-52_IRB#RP-2013-39. Aggregate Forms TRS assistant the 800-555-4477 number above or
941 are also filed by CPEOs approved by the IRS under 800-733-4829. Additional information about EFTPS is also
section 7705. To become a CPEO, the organization must available in Pub. 966.
apply through the IRS Online Registration System at
For an EFTPS deposit to be on time, you must
IRS.gov/CPEO. CPEOs file Form 8973, Certified
submit the deposit by 8 p.m. Eastern time the day
Professional Employer Organization/Customer Reporting CAUTION!
before the date the deposit is due.
Agreement, to notify the IRS that they started or ended a
service contract with a customer. CPEOs must generally Same-day wire payment option. If you fail to submit a
file Form 941 and Schedule R (Form 941) electronically. deposit transaction on EFTPS by 8 p.m. Eastern time the
For more information about a CPEO’s requirement to file day before the date a deposit is due, you can still make
electronically, see Rev. Proc. 2023-18. your deposit on time by using the Federal Tax Collection
Other third-party payers that file aggregate Forms 941, Service (FTCS) to make a same-day wire payment. To use
such as non-certified PEOs, must complete and file the same-day wire payment method, you will need to
Schedule R (Form 941) if they have clients that are make arrangements with your financial institution ahead of
claiming the qualified small business payroll tax credit for time. Please check with your financial institution regarding
increasing research activities. availability, deadlines, and costs. Your financial institution
may charge you a fee for payments made this way. To
If both an employer and a section 3504 authorized learn more about the information you will need to give your
TIP agent (or CPEO or other third-party payer) paid financial institution to make a same-day wire payment, go
wages to an employee during a quarter, both the to IRS.gov/SameDayWire.
employer and the section 3504 authorized agent (or Timeliness of federal tax deposits. If a deposit is
CPEO or other third-party payer, if applicable) should file required to be made on a day that isn't a business day, the
Form 941 reporting the wages each entity paid to the deposit is considered timely if it is made by the close of
employee during the applicable quarter and issue Forms the next business day. A business day is any day other
W-2 reporting the wages each entity paid to the employee than a Saturday, Sunday, or legal holiday. The term “legal
during the year. holiday” for deposit purposes includes only those legal
holidays in the District of Columbia. Legal holidays in the
Work opportunity tax credit for qualified tax-exempt
District of Columbia are provided in section 11 of Pub. 15.
organizations hiring qualified veterans. Qualified
tax-exempt organizations that hire eligible unemployed Electronic filing and payment. Businesses can enjoy
veterans may be able to claim the work opportunity tax the benefits of filing tax returns and paying their federal
credit against their payroll tax liability using Form 5884-C. taxes electronically. Whether you rely on a tax
For more information, go to IRS.gov/WOTC. professional or handle your own taxes, the IRS offers you
convenient and secure programs to make filing and paying
Correcting a previously filed Form 941. If you discover
easier. Spend less time worrying about taxes and more
an error on a previously filed Form 941, or if you otherwise
time running your business. Use e-file and EFTPS to your
need to amend a previously filed Form 941, make the
benefit.
correction using Form 941-X. Form 941-X is filed
• For e-file, go to IRS.gov/EmploymentEfile for additional
separately from Form 941. For more information, see the
information. A fee may be charged to file electronically.
Instructions for Form 941-X, section 13 of Pub. 15, or go to
• For EFTPS, go to EFTPS.gov or call one of the numbers
IRS.gov/CorrectingEmploymentTaxes.
provided under Federal tax deposits must be made by
Federal tax deposits must be made by electronic electronic funds transfer (EFT), earlier.
funds transfer (EFT). You must use EFT to make all • For electronic filing of Forms W-2, Wage and Tax
federal tax deposits. Generally, an EFT is made using the Statement, go to SSA.gov/employer. You may be required
Electronic Federal Tax Payment System (EFTPS). If you to file Forms W-2 electronically. For details, see the
don't want to use EFTPS, you can arrange for your tax General Instructions for Forms W-2 and W-3. The Social
professional, financial institution, payroll service, or other Security Administration's Business Services Online (BSO)
trusted third party to make electronic deposits on your is an independent program from the Government of
behalf. Also, you may arrange for your financial institution Puerto Rico electronic filing system. Employers in Puerto
to initiate a same-day wire payment on your behalf. Rico must go to Hacienda.gobierno.pr for additional
EFTPS is a free service provided by the Department of the information.
Treasury. Services provided by your tax professional,
If you’re filing your tax return or paying your federal
financial institution, payroll service, or other third party
taxes electronically, a valid employer identification
may have a fee. CAUTION!
number (EIN) is required at the time the return is
For more information on making federal tax deposits, filed or the payment is made. If a valid EIN isn't provided,
see section 11 of Pub. 15. To get more information about the return or payment won't be processed. This may result
EFTPS or to enroll in EFTPS, go to EFTPS.gov or call one in penalties. See Employer identification number (EIN),
of the following numbers. later, for information about applying for an EIN.
• 800-555-4477.
• 800-244-4829 (Spanish). Electronic funds withdrawal (EFW). If you file Form
• 303-967-5916 (toll call). 941 electronically, you can e-file and use EFW to pay the

Instructions for Form 941 (Rev. 3-2024) 3

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balance due in a single step using tax preparation an employee in excess of $200,000 in a calendar year.
software or through a tax professional. However, don't use Under the withholding system, taxes withheld from your
EFW to make federal tax deposits. For more information employees are credited to your employees in payment of
on paying your taxes using EFW, go to IRS.gov/EFW. their tax liabilities.
Credit or debit card payments. You can pay the Federal law also requires you to pay any liability for the
balance due shown on Form 941 by credit or debit card. employer share of social security and Medicare taxes.
Your payment will be processed by a payment processor This share of social security and Medicare taxes isn't
who will charge a processing fee. Don't use a credit or withheld from employees.
debit card to make federal tax deposits. For more
information on paying your taxes with a credit or debit Who Must File Form 941?
card, go to IRS.gov/PayByCard.
If you pay wages subject to federal income tax withholding
Online payment agreement. You may be eligible to or social security and Medicare taxes, you must file Form
apply for an installment agreement online if you can't pay 941 quarterly to report the following amounts.
the full amount of tax you owe when you file your return. • Wages you’ve paid.
For more information, see What if you can't pay in full, • Tips your employees reported to you.
later. • Federal income tax you withheld.
Paid preparers. If you use a paid preparer to complete • Both the employer and the employee share of social
Form 941, the paid preparer must complete and sign the security and Medicare taxes.
paid preparer's section of the form. • Additional Medicare Tax withheld from employees.
• Current quarter's adjustments to social security and
Where can you get telephone help? For answers to Medicare taxes for fractions of cents, sick pay, tips, and
your questions about completing Form 941 or tax deposit group-term life insurance.
rules, you can call the IRS at 800-829-4933 or • Qualified small business payroll tax credit for increasing
800-829-4059 (TDD/TTY for persons who are deaf, hard research activities.
of hearing, or have a speech disability), Monday–Friday
from 7:00 a.m. to 7:00 p.m. local time (Alaska and Hawaii Don't use Form 941 to report backup withholding or
follow Pacific time). income tax withholding on nonpayroll payments such as
pensions, annuities, and gambling winnings. Report these
Photographs of missing children. The IRS is a proud types of withholding on Form 945, Annual Return of
partner with the National Center for Missing & Exploited Withheld Federal Income Tax. Also, don't use Form 941 to
Children® (NCMEC). Photographs of missing children report unemployment taxes. Report unemployment taxes
selected by the Center may appear in instructions on on Form 940, Employer's Annual Federal Unemployment
pages that would otherwise be blank. You can help bring (FUTA) Tax Return.
these children home by looking at the photographs and
calling 1-800-THE-LOST (1-800-843-5678) if you After you file your first Form 941, you must file a return
recognize a child. for each quarter, even if you have no taxes to report,
unless you filed a final return or one of the exceptions
listed next applies.
General Instructions:
Exceptions
Purpose of Form 941 Special rules apply to some employers.
These instructions give you some background information • If you received notification to file Form 944, Employer's
about Form 941. They tell you who must file Form 941, ANNUAL Federal Tax Return, you must file Form 944
how to complete it line by line, and when and where to file annually; don't file Form 941 quarterly.
it. • Seasonal employers don't have to file a Form 941 for
quarters in which they have no tax liability because they
If you want more in-depth information about payroll tax
have paid no wages. To tell the IRS that you won't file a
topics relating to Form 941, see Pub. 15 or go to IRS.gov/
return for one or more quarters during the year, check the
EmploymentTaxes.
box on line 18 every quarter you file Form 941. See
References to federal income tax withholding section 12 of Pub. 15 for more information.
! don't apply to employers in American Samoa, • Employers of household employees don't usually file
CAUTION Guam, the Commonwealth of the Northern Form 941. See Pub. 926 and Schedule H (Form 1040) for
Mariana Islands (CNMI), the U.S. Virgin Islands (USVI), more information.
and Puerto Rico, unless you have employees who are • Employers of farm employees don't file Form 941 for
subject to U.S. income tax withholding. Contact your local wages paid for agricultural labor. See Form 943 and Pub.
tax department for information about income tax 15 for more information.
withholding.
If none of these exceptions apply and you haven't
Federal law requires you, as an employer, to withhold TIP filed a final return, you must file Form 941 each
certain taxes from your employees' pay. Each time you quarter even if you didn't pay wages during the
pay wages, you must withhold—or take out of your quarter. Use IRS e-file, if possible.
employees' pay—certain amounts for federal income tax,
social security tax, and Medicare tax. You must also
withhold Additional Medicare Tax from wages you pay to

4 Instructions for Form 941 (Rev. 3-2024)

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Requesting To File Forms 941 Instead of Form corporation—is considered a transfer. If a transfer occurs,
944, or Requesting To File Form 944 Instead of you may need a new EIN. See Pub. 1635 and section 1 of
Forms 941 Pub. 15 for more information.

Requesting to file Forms 941 instead of Form 944. Attach a statement to your return with:
Employers that would otherwise be required to file Form • The new owner's name (or the new name of the
944 may contact the IRS to request to file quarterly Forms business);
941 instead of annual Form 944. To request to file • Whether the business is now a sole proprietorship,
quarterly Forms 941 to report your social security and partnership, or corporation;
Medicare taxes for the 2024 calendar year, you must • The kind of change that occurred (a sale or transfer);
either call the IRS at 800-829-4933 between January 1, • The date of the change; and
2024, and April 1, 2024, or send a written request • The name of the person keeping the payroll records and
postmarked between January 1, 2024, and March 15, the address where those records will be kept.
2024. After you contact the IRS, the IRS will send you a
written notice that your filing requirement has been If Your Business Has Closed . . .
changed to Forms 941. You must receive written notice
from the IRS to file Forms 941 instead of Form 944 before If you permanently go out of business or stop paying
you may file these forms. If you don't receive this notice, wages to your employees, you must file a final return. To
you must file Form 944 for calendar year 2024. tell the IRS that Form 941 for a particular quarter is your
final return, check the box on line 17 and enter the final
Requesting to file Form 944 instead of Forms 941. If
date you paid wages. Also attach a statement to your
you’re required to file Forms 941 but believe your
return showing the name of the person keeping the payroll
employment taxes for calendar year 2024 will be $1,000
records and the address where those records will be kept.
or less, you may request to file Form 944 instead of Forms
941 by calling the IRS at 800-829-4933 between January See Terminating a business in the General Instructions
1, 2024, and April 1, 2024, or sending a written request for Forms W-2 and W-3 for information about earlier dates
postmarked between January 1, 2024, and March 15, for the expedited furnishing and filing of Forms W-2 when
2024. After you contact the IRS, the IRS will send you a a final Form 941 is filed.
written notice that your filing requirement has been
changed to Form 944. You must receive written notice If you participated in a statutory merger or
from the IRS to file Form 944 instead of Forms 941 before consolidation, or qualify for predecessor-successor status
you may file this form. If you don't receive this notice, you due to an acquisition, you should generally file
must file Forms 941 for calendar year 2024. Schedule D (Form 941), Report of Discrepancies Caused
Where to send written requests. Written requests by Acquisitions, Statutory Mergers, or Consolidations. See
should be sent to: the Instructions for Schedule D (Form 941) to determine
whether you should file Schedule D (Form 941) and when
you should file it.
Department of the Treasury Department of the Treasury
Internal Revenue Service or Internal Revenue Service When Must You File?
Ogden, UT 84201-0038 Cincinnati, OH 45999-0038
File your initial Form 941 for the quarter in which you first
paid wages that are subject to social security and
If you would mail your return filed without a payment to Medicare taxes or subject to federal income tax
Ogden, as shown under Where Should You File, later, withholding. See the table titled When To File Form 941,
send your request to the Ogden address shown above. If later.
you would mail your return filed without a payment to
Then, you must file for every quarter after that—every 3
Kansas City, send your request to the address for
months—even if you have no taxes to report, unless you’re
Cincinnati shown above. For more information about these
a seasonal employer or are filing your final return. See
procedures, see Rev. Proc. 2009-51, 2009-45 I.R.B. 625,
Seasonal employers and If Your Business Has Closed,
available at IRS.gov/irb/2009-45_IRB#RP-2009-51.
earlier.
What if You Reorganize or Close Your Business? File Form 941 only once for each quarter. If you filed
If You Sell or Transfer Your Business . . . electronically, don't file a paper Form 941. For more
information about filing Form 941 electronically, see
If you sell or transfer your business during the quarter, you Electronic filing and payment, earlier.
and the new owner must each file a Form 941 for the
quarter in which the transfer occurred. Report only the
wages you paid.

When two businesses merge, the continuing firm must
file a return for the quarter in which the change took place
and the other firm should file a final return.

Changing from one form of business to another—such
as from a sole proprietorship to a partnership or

Instructions for Form 941 (Rev. 3-2024) 5

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When To File Form 941 business was created or organized outside of the United
States or U.S. territories, you may also apply for an EIN by
Your Form 941 is due by the last day of the month that follows the end of the calling 267-941-1099 (toll call). If you haven't received
quarter. your EIN by the due date of Form 941, file a paper return
Form 941 and write “Applied For” and the date you applied in this
The Quarter Includes . . . Quarter Ends Is Due entry space.
1. January, February, March March 31 April 30
If you’re filing your tax return electronically, a valid
2. April, May, June June 30 July 31
EIN is required at the time the return is filed. If a
3. July, August, September September 30 October 31 CAUTION! valid EIN isn't provided, the return won't be
4. October, November, December December 31 January 31 accepted. This may result in penalties.

For example, you must generally report wages you pay Always be sure the EIN on the form you file exactly
during the 1st quarter—which is January through TIP matches the EIN the IRS assigned to your
March—by April 30. If you made timely deposits in full business. Don't use your SSN or ITIN on forms
payment of your taxes for the quarter, you may file by the that ask for an EIN. If you used an EIN (including a prior
10th day of the 2nd month that follows the end of the owner's EIN) on Form 941 that is different from the EIN
quarter. For example, you may file Form 941 by May 10 if reported on Form W-3, see Box h—Other EIN used this
you made timely deposits in full payment of your taxes for year in the General Instructions for Forms W-2 and W-3.
the 1st quarter. On Form W-3 (PR), “Other EIN used this year” is reported
If we receive Form 941 after the due date, we will treat in box f. Filing a Form 941 with an incorrect EIN or using
Form 941 as filed on time if the envelope containing Form another business's EIN may result in penalties and delays
941 is properly addressed, contains sufficient postage, in processing your return.
and is postmarked by the U.S. Postal Service on or before
the due date, or sent by an IRS-designated private If you change your business name, business ad-
delivery service (PDS) on or before the due date. If you dress, or responsible party... Notify the IRS
don't follow these guidelines, we will generally consider immediately if you change your business name, business
Form 941 filed when it is actually received. For more address, or responsible party.
information about PDSs, see Where Should You File, later. • Write to the IRS office where you file your returns (using
the Without a payment address under Where Should You
If any due date for filing falls on a Saturday, Sunday, or File, later) to notify the IRS of any business name change.
legal holiday, you may file your return on the next business See Pub.1635 to see if you need to apply for a new EIN.
day. • Complete and mail Form 8822-B to notify the IRS of a
business address or responsible party change. Don't mail
How Should You Complete Form 941?
Form 8822-B with your Form 941. For a definition of
Type or print your EIN, name, and address in the spaces “responsible party,” see the Instructions for Form SS-4.
provided. Also enter your name and EIN on the top of
page 2. Don't use your social security number (SSN) or Check the Box for the Quarter
individual taxpayer identification number (ITIN). Generally, Under “Report for this Quarter of 2024” at the top of Form
enter the business (legal) name you used when you 941, check the appropriate box of the quarter for which
applied for your EIN. For example, if you’re a sole you’re filing. Make sure the quarter checked is the same
proprietor, enter “Haleigh Smith” on the “Name” line and as shown on any attached Schedule B (Form 941), Report
“Haleigh's Cycles” on the “Trade name” line. Leave the of Tax Liability for Semiweekly Schedule Depositors, and,
“Trade name” line blank if it is the same as your “Name.” if applicable, Schedule R (Form 941).

If you use a tax preparer to fill out Form 941, make sure Completing and Filing Form 941
the preparer shows your business name exactly as it
Make entries on Form 941 as follows to enable accurate
appeared when you applied for your EIN.
scanning and processing.
Employer identification number (EIN). To make sure • Use 10-point Courier font (if possible) for all entries if
businesses comply with federal tax laws, the IRS monitors you’re typing or using a computer to complete your form.
tax filings and payments by using a numerical system to Portable Document Format (PDF) forms on IRS.gov have
identify taxpayers. A unique nine-digit EIN is assigned to fillable fields with acceptable font specifications.
all corporations, partnerships, and some sole proprietors. • Don't enter dollar signs and decimal points. Commas
Businesses needing an EIN must apply for a number and are optional. Enter dollars to the left of the preprinted
use it throughout the life of the business on all tax returns, decimal point and cents to the right of it. Don’t round
payments, and reports. entries to whole dollars. Always show an amount for cents,
Your business should have only one EIN. If you have even if it is zero.
more than one and aren't sure which one to use, write to • Leave blank any data field (except lines 1, 2, and 12)
the IRS office where you file your returns (using the with a value of zero.
Without a payment address under Where Should You File, • Enter negative amounts using a minus sign (if possible).
later) or call the IRS at 800-829-4933. Otherwise, use parentheses.
If you don't have an EIN, you may apply for one online • Enter your name and EIN on all pages.
by going to IRS.gov/EIN. You may also apply for an EIN by • Enter your name, EIN, “Form 941,” and the tax year and
quarter on all attachments.
faxing or mailing Form SS-4 to the IRS. If the principal

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• Staple multiple sheets in the upper left corner when
filing. Connecticut, Delaware, District of Department of Internal
Columbia, Georgia, Illinois, the Treasury Revenue
Complete both pages. You must complete both pages Indiana, Kentucky, Maine, Internal Service
of Form 941 and sign on page 2. Failure to do so may Maryland, Massachusetts, Revenue P.O. Box 806532
delay processing of your return. Michigan, New Hampshire, New Service Cincinnati, OH
Jersey, New York, North Carolina, Kansas City, 45280-6532
Required Notice to Employees About the Earned Ohio, Pennsylvania, Rhode MO 64999-0005
Island, South Carolina,
Income Credit (EIC) Tennessee, Vermont, Virginia,
To notify employees about the EIC, you must give the West Virginia, Wisconsin
employees, except for employees in American Samoa,
Guam, Puerto Rico, the CNMI, and the USVI, one of the Alabama, Alaska, Arizona, Department of Internal
following items. Arkansas, California, Colorado, the Treasury Revenue
Florida, Hawaii, Idaho, Iowa, Internal Service
• Form W-2 which has the required information about the Kansas, Louisiana, Minnesota, Revenue P.O. Box 932100
EIC on the back of Copy B. Mississippi, Missouri, Montana, Service Louisville, KY
• A substitute Form W-2 with the same EIC information Nebraska, Nevada, New Mexico, Ogden, UT 40293-2100
on the back of the employee's copy that is on Copy B of North Dakota, Oklahoma, 84201-0005
the IRS Form W-2. Oregon, South Dakota, Texas,
• Notice 797, Possible Federal Tax Refund Due to the Utah, Washington, Wyoming
Earned Income Credit (EIC).
No legal residence or principal Internal Internal
• Your written statement with the same wording as place of business in any state, Revenue Revenue
Notice 797. including employers in American Service Service
For more information, see section 10 of Pub. 15, Pub. Samoa, Guam, the CNMI, the P.O. Box P.O. Box 932100
596, and IRS.gov/EIC. USVI, and Puerto Rico 409101 Louisville, KY
Ogden, UT 40293-2100
84409
Reconciling Forms 941 With Form W-3
The IRS matches amounts reported on your four quarterly Special filing address for Department of Internal
Forms 941 with Form W-2 amounts totaled on your yearly exempt organizations; federal, the Treasury Revenue
Form W-3, Transmittal of Wage and Tax Statements. If the state, and local governmental Internal Service
amounts don't agree, you may be contacted by the IRS or entities; and Indian tribal Revenue P.O. Box 932100
the Social Security Administration (SSA). The following governmental entities, regardless Service Louisville, KY
of location Ogden, UT 40293-2100
amounts are reconciled. 84201-0005
• Federal income tax withholding.
• Social security wages. Your filing address may have changed from that
• Social security tips. ! used to file your employment tax return in prior
• Medicare wages and tips. CAUTION years. Don't send Form 941 or any payments to
For more information, see section 12 of Pub. 15 and the the SSA.
Instructions for Schedule D (Form 941).
Depositing Your Taxes
Where Should You File?
You must deposit all depository taxes
You’re encouraged to file Form 941 electronically. Go to ! electronically by EFT. For more information, see
IRS.gov/EmploymentEfile for more information on CAUTION Federal tax deposits must be made by electronic
electronic filing. If you file a paper return, where you file funds transfer (EFT) under Reminders, earlier.
depends on whether you include a payment with Form
941. Mail your return to the address listed for your location Must You Deposit Your Taxes?
in the table that follows.
You may have to deposit the federal income taxes you
PDSs can't deliver to P.O. boxes. You must use the U.S. withheld and both the employer and employee social
Postal Service to mail an item to a P.O. box address. Go to security taxes and Medicare taxes.
IRS.gov/PDS for the current list of PDSs. For the IRS • If your total taxes after adjustments and
mailing address to use if you’re using a PDS, go to nonrefundable credits (line 12) are less than $2,500
IRS.gov/PDSstreetAddresses. Select the mailing address for the current quarter or the prior quarter, and you
listed on the webpage that is in the same state as the didn't incur a $100,000 next-day deposit obligation
address to which you would mail returns filed without a during the current quarter. You don't have to make a
payment, as shown next. deposit. To avoid a penalty, you must pay any amount due
Mailing Addresses for Form 941 in full with a timely filed return or you must deposit any
amount you owe by the due date of the return. For more
If you’re in . . . Without a With a information on paying with a timely filed return, see the
payment . . . payment . . . instructions for line 14, later. If you’re 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

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rules so you won't be subject to failure-to-deposit (FTD) Use Form 843 to request abatement of assessed
penalties. penalties or interest. Don't request abatement of assessed
• If your total taxes after adjustments and penalties or interest on Form 941 or Form 941-X.
nonrefundable credits (line 12) are $2,500 or more
If you receive a notice about a penalty after you file this
for the current quarter and the prior quarter. You must
return, reply to the notice with an explanation and we will
make deposits according to your deposit schedule. See
determine if you meet reasonable-cause criteria. Don't
section 11 of Pub. 15 for information about payments
attach an explanation when you file your return.
made under the accuracy of deposits rule and for rules
about federal tax deposits. If federal income, social security, and Medicare
taxes that must be withheld (that is, trust fund
When Must You Deposit Your Taxes? CAUTION! taxes) aren't withheld or aren't deposited or paid
Determine if You’re a Monthly or Semiweekly to the United States Treasury, the trust fund recovery
Schedule Depositor for the Quarter penalty may apply. The penalty is 100% of the unpaid trust
fund tax. If these unpaid taxes can't be immediately
The IRS uses two different sets of deposit rules to collected from the employer or business, the trust fund
determine when businesses must deposit their social recovery penalty may be imposed on all persons who are
security, Medicare, and withheld federal income taxes. determined by the IRS to be responsible for collecting,
These schedules tell you when a deposit is due after you accounting for, or paying over these taxes, and who acted
have a payday. willfully in not doing so. For more information, see section
11 of Pub. 15. The trust fund recovery penalty won't apply
Your deposit schedule isn't determined by how often to any amount of trust fund taxes an employer holds back
you pay your employees. Your deposit schedule depends in anticipation of any credits they are entitled to.
on the total tax liability you reported on Form 941 during
the previous 4-quarter lookback period (July 1 of the Adjustment of Tax on Tips
second preceding calendar year through June 30 of the
If, by the 10th of the month after the month you received
preceding calendar year). See section 11 of Pub. 15 for
an employee's report on tips, you don't have enough
details. If you filed Form 944 in either 2022 or 2023, your
employee funds available to withhold the employee share
lookback period is the 2022 calendar year.
of social security and Medicare taxes, you no longer have
Before the beginning of each calendar year, determine to collect it. Report the entire amount of these tips on
which type of deposit schedule you must use. line 5b (Taxable social security tips), line 5c (Taxable
• If you reported $50,000 or less in taxes during the Medicare wages and tips), and, if the withholding
lookback period, you’re a monthly schedule depositor. threshold is met, line 5d (Taxable wages and tips subject
• If you reported more than $50,000 of taxes during the to Additional Medicare Tax withholding). Include as a
lookback period, you’re a semiweekly schedule negative adjustment on line 9 the total uncollected
depositor. employee share of the social security and Medicare taxes.

If you’re a monthly schedule depositor and
Specific Instructions:
! accumulate a $100,000 tax liability on any day
CAUTION during the deposit period, you become a
semiweekly schedule depositor on the next day and Part 1: Answer These Questions for
remain so for at least the rest of the calendar year and for This Quarter
the following calendar year. See $100,000 Next-Day
Deposit Rule in section 11 of Pub. 15 for more information. 1. Number of Employees Who Received Wages,
The $100,000 tax liability threshold requiring a next-day Tips, or Other Compensation
deposit is determined before you consider any reduction
of your liability for nonrefundable credits. Enter the number of employees on your payroll for the pay
period including March 12, June 12, September 12, or
December 12, for the quarter indicated at the top of Form
What About Penalties and Interest? 941. Don't include:
• Household employees,
Avoiding Penalties and Interest • Employees in nonpay status for the pay period,
You can avoid paying penalties and interest if you do all of • Farm employees,
the following. • Pensioners, or
• Deposit or pay your taxes when they are due. • Active members of the U.S. Armed Forces.
• File your fully completed Form 941 on time.
• Report your tax liability accurately. Employers in American Samoa, Guam, the CNMI,
• Submit valid checks for tax payments. TIP the USVI, and Puerto Rico can skip lines 2 and 3,
• Furnish accurate Forms W-2 to employees. unless you have employees who are subject to
• File Form W-3 and Copy A of Forms W-2 with the SSA U.S. income tax withholding.
on time and accurately.
2. Wages, Tips, and Other Compensation
Penalties and interest are charged on taxes paid late Enter amounts on line 2 that would also be included in
and returns filed late at a rate set by law. See sections 11 box 1 of your employees' Forms W-2. See Box 1—Wages,
and 12 of Pub. 15 for details.

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tips, other compensation in the General Instructions for an adjustment that you may need to make on Form 941 for
Forms W-2 and W-3 for details. Include sick pay paid by sick pay.
your agent. Also include sick pay paid by a third party that Enter the amount before payroll deductions. Don't
isn't your agent (for example, an insurance company) if include tips on this line. For information on types of wages
you were given timely notice of the payments and the third subject to social security taxes, see section 5 of Pub. 15.
party transferred liability for the employer's taxes to you.
For 2024, the rate of social security tax on taxable
If you’re a third-party payer of sick pay and not an agent wages is 6.2% (0.062) each for the employer and
of the employer, don't include sick pay that you paid to employee. Stop paying social security tax on and entering
policyholders' employees here if you gave the an employee's wages on line 5a when the employee's
policyholders timely notice of the payments. See section 6 taxable wages and tips reach $168,600 for the year.
of Pub. 15-A for more information about sick pay reporting However, continue to withhold income and Medicare taxes
and the procedures for transferring the liability to the for the whole year on all wages and tips, even when the
employer. social security wage base of $168,600 has been reached.
3. Federal Income Tax Withheld From Wages, line 5a (column 1)
x 0.124
Tips, and Other Compensation
line 5a (column 2)
Enter the federal income tax you withheld (or were
required to withhold) from your employees on this
quarter's wages, tips, taxable fringe benefits, and 5b. Taxable social security tips. Enter all tips your
supplemental unemployment compensation benefits. employees reported to you during the quarter until the
Don't include any income tax withheld by a third-party total of the tips and taxable wages, including wages
payer of sick pay even if you reported it on Forms W-2. reported on line 5a, for an employee reaches $168,600 for
You will reconcile this difference on Form W-3. Also the year. Include all tips your employee reported to you
include here any excise taxes you were required to even if you were unable to withhold the employee tax of
withhold on golden parachute payments (section 4999). 6.2%. You will reduce your total taxes by the amount of
For information on the employment tax treatment of fringe any uncollected employee share of social security and
benefits, see Pub. 15-B, Employer's Tax Guide to Fringe Medicare taxes on tips later on line 9; see Current
Benefits. For information about supplemental quarter's adjustments for tips and group-term life
unemployment compensation benefits and golden insurance, later. Don’t include service charges on line 5b.
parachute payments, see section 5 of Pub. 15-A. For details about the difference between tips and service
If you’re a third-party payer of sick pay, enter the federal charges, see Rev. Rul. 2012-18, 2012-26 I.R.B. 1032,
income tax you withheld (or were required to withhold) on available at IRS.gov/irb/2012-26_IRB#RR-2012-18.
third-party sick pay here. Your employee must report cash tips to you by the 10th
day of the month after the month the tips are received.
4. If No Wages, Tips, and Other Compensation Cash tips include tips paid by cash, check, debit card, and
Are Subject to Social Security or Medicare credit card. The report should include charged tips (for
Tax . . . example, credit and debit card charges) you paid over to
the employee for charge customers, tips the employee
If no wages, tips, and other compensation on line 2 are
received directly from customers, and tips received from
subject to social security or Medicare tax, check the box
other employees under any tip-sharing arrangement. Both
on line 4. If this question doesn't apply to you, leave the
directly and indirectly tipped employees must report tips to
box blank. For more information about exempt wages, see
you. No report is required for months when tips are less
section 15 of Pub. 15. For religious exemptions, see
than $20. Employees may submit a written statement or
section 4 of Pub. 15-A.
electronic tip record.
If you’re a governmental employer, wages you pay Don't include allocated tips (described in section 6 of
! aren't automatically exempt from social security Pub. 15) on this line. Instead, report them on Form 8027.
CAUTION and Medicare taxes. Your employees may be
Allocated tips aren't reportable on Form 941 and aren't
covered by law or by a voluntary Section 218 Agreement subject to withholding of federal income, social security, or
with the SSA. For more information, see Pub. 963, Medicare tax.
Federal-State Reference Guide.
line 5b (column 1)
5a–5e. Taxable Social Security and Medicare x 0.124
Wages and Tips line 5b (column 2)

5a. Taxable social security wages. Enter the total
wages, sick pay, and taxable fringe benefits subject to 5c. Taxable Medicare wages & tips. Enter all wages,
social security taxes you paid to your employees during tips, sick pay, and taxable fringe benefits that are subject
the quarter. For this purpose, sick pay includes payments to Medicare tax. Unlike social security wages, there is no
made by an insurance company to your employees for limit on the amount of wages subject to Medicare tax.
which you received timely notice from the insurance
company. See section 6 of Pub. 15-A for more information The rate of Medicare tax is 1.45% (0.0145) each for the
about sick pay reporting. See the instructions for line 8 for employer and employee. Include all tips your employees

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reported during the quarter, even if you were unable to Deposit the tax within the time period required under
withhold the employee tax of 1.45%. your deposit schedule to avoid any possible deposit
penalty. The tax is treated as accumulated by the
line 5c (column 1) employer on the “Date of Notice and Demand” as printed
x 0.029 on the Section 3121(q) Notice and Demand. The
line 5c (column 2) 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 more information on tips, see section 6 of Pub. 15. for a semiweekly schedule depositor).
See the instructions for line 8 for an adjustment that you
may need to make on Form 941 for sick pay. 6. Total Taxes Before Adjustments
5d. Taxable wages & tips subject to Additional Medi- Add the total federal income tax withheld from wages, tips,
care Tax withholding. Enter all wages, tips, sick pay, and other compensation (line 3); the total social security
and taxable fringe benefits that are subject to Additional and Medicare taxes before adjustments (line 5e); and any
Medicare Tax withholding. You’re required to begin tax due under a Section 3121(q) Notice and Demand
withholding Additional Medicare Tax in the pay period in (line 5f). Enter the result on line 6.
which you pay wages in excess of $200,000 to an
employee and continue to withhold it each pay period until 7–9. Tax Adjustments
the end of the calendar year. Additional Medicare Tax is Enter tax amounts on lines 7–9 that result from current
only imposed on the employee. There is no employer quarter adjustments. Use a minus sign (if possible) to
share of Additional Medicare Tax. All wages that are show an adjustment that decreases the total taxes shown
subject to Medicare tax are subject to Additional Medicare on line 6 instead of parentheses. Doing so enhances the
Tax withholding if paid in excess of the $200,000 accuracy of our scanning software. For example, enter
withholding threshold. “-10.59” instead of “(10.59).” However, if your software
For more information on what wages are subject to only allows for parentheses in entering negative amounts,
Medicare tax, see section 15 of Pub. 15. For more you may use them.
information on Additional Medicare Tax, go to IRS.gov/ Current quarter's adjustments. In certain cases, you
ADMTfaqs. See the instructions for line 8 for an must adjust the amounts you entered as social security
adjustment that you may need to make on Form 941 for and Medicare taxes in column 2 of lines 5a–5d to figure
sick pay. your correct tax liability for this quarter's Form 941. See
Once wages and tips exceed the $200,000 withholding section 13 of Pub. 15.
threshold, include all tips your employees reported during 7. Current quarter's adjustment for fractions of
the quarter, even if you were unable to withhold the cents. Enter adjustments for fractions of cents (due to
employee tax of 0.9%. rounding) relating to the employee share of social security
and Medicare taxes withheld. The employee share of
line 5d (column 1) amounts shown in column 2 of lines 5a–5d may differ
x 0.009 slightly from amounts actually withheld from employees'
line 5d (column 2) pay due to the rounding of social security and Medicare
taxes based on statutory rates. This adjustment may be a
positive or a negative adjustment.
5e. Total social security and Medicare taxes. Add the 8. Current quarter's adjustment for sick pay. If your
column 2 amounts on lines 5a–5d. Enter the result on third-party payer of sick pay that isn't your agent (for
line 5e. example, an insurance company) transfers the liability for
the employer share of the social security and Medicare
5f. Section 3121(q) Notice and Demand—Tax taxes to you, enter a negative adjustment on line 8 for the
Due on Unreported Tips employee share of social security and Medicare taxes that
Enter the tax due from your Section 3121(q) Notice and were withheld and deposited by your third-party sick pay
Demand on line 5f. The IRS issues a Section 3121(q) payer on the sick pay. If you’re the third-party sick pay
Notice and Demand to advise an employer of the amount payer and you transferred the liability for the employer
of tips received by employees who failed to report or share of the social security and Medicare taxes to the
underreported tips to the employer. An employer isn't employer, enter a negative adjustment on line 8 for any
liable for the employer share of the social security and employer share of these taxes required to be paid by the
Medicare taxes on unreported tips until notice and employer. The sick pay should be included on line 5a,
demand for the taxes is made to the employer by the IRS line 5c, and, if the withholding threshold is met, line 5d.
in a Section 3121(q) Notice and Demand. The tax due No adjustment is reported on line 8 for sick pay that is
may have been determined from tips reported to the IRS paid through a third party as an employer’s agent. An
on employees' Forms 4137, Social Security and Medicare employer’s agent bears no insurance risk and is
Tax on Unreported Tip Income, or other tips that weren't reimbursed on a cost-plus-fee basis for payment of sick
reported to their employer as determined by the IRS pay and similar amounts. If an employer uses an agent to
during an examination. For additional information, see pay sick pay, the employer reports the wages on line 5a,
Rev. Rul. 2012-18. line 5c, and, if the withholding threshold is met, line 5d,
unless the employer has an agency agreement with the

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third-party payer that requires the third-party payer to do shown on Schedule B (Form 941). For more information,
the collecting, reporting, and/or paying or depositing see the line 16 instructions, later.
employment taxes on the sick pay. See section 6 of Pub.
For more information and rules about federal tax
15-A for more information about sick pay reporting.
deposits, see Depositing Your Taxes, earlier, and section
9. Current quarter's adjustments for tips and
11 of Pub. 15.
group-term life insurance. Enter a negative adjustment
for: If you’re a semiweekly schedule depositor, you
• Any uncollected employee share of social security and ! must complete Schedule B (Form 941). If you fail
Medicare taxes on tips, and CAUTION to complete and submit Schedule B (Form 941),
• The uncollected employee share of social security and the IRS may assess deposit penalties based on available
Medicare taxes on group-term life insurance premiums information.
paid for former employees.
See the General Instructions for Forms W-2 and W-3 13. Total Deposits for This Quarter
for information on how to report the uncollected employee Enter your deposits for this quarter, including any
share of social security and Medicare taxes on tips and overpayment from a prior quarter that you applied to this
group-term life insurance on Form W-2. return. Also include in the amount shown any
Prior quarter's adjustments. If you need to correct any overpayment that you applied from filing Form 941-X,
adjustment reported on a previously filed Form 941, 941-X (PR), or 944-X in the current quarter.
complete and file Form 941-X. Form 941-X is an adjusted
14. Balance Due
return or claim for refund and is filed separately from Form
941. See section 13 of Pub. 15. If line 12 is more than line 13, enter the difference on
line 14. Otherwise, see the instructions for line 15, later.
10. Total Taxes After Adjustments
Never make an entry on both lines 14 and 15.
Combine the amounts shown on lines 6–9 and enter the
result on line 10. You don't have to pay if line 14 is under $1. Generally,
you should have a balance due only if your total taxes after
11. Qualified Small Business Payroll Tax Credit adjustments and nonrefundable credits (line 12) for the
for Increasing Research Activities current quarter or prior quarter are less than $2,500, and
Enter the amount of the credit from Form 8974, line 12 or, you didn't incur a $100,000 next-day deposit obligation
if applicable, line 17. during the current quarter. However, see section 11 of
Pub. 15 for information about payments made under the
If you enter an amount on line 11, you must attach accuracy of deposits rule.
! Form 8974. The December 2023 revision of Form If you were required to make federal tax deposits, pay
CAUTION 8974 instructs you to enter the amount from Form
8974, line 12 or, if applicable, line 17, on Form 941, the amount shown on line 14 by EFT. If you weren't
line 11a. Instead, the amount from Form 8974, line 12 or, if required to make federal tax deposits (see Must You
applicable, line 17, should be entered on Form 941, Deposit Your Taxes, earlier) or you're a monthly schedule
line 11. depositor making a payment under the accuracy of
deposits rule, you may pay the amount shown on line 14
by EFT, credit card, debit card, check, money order, or
12. Total Taxes After Adjustments and EFW. For more information on electronic payment options,
Nonrefundable Credits go to IRS.gov/Payments.
Subtract line 11 from line 10 and enter the result on
line 12. The amount entered on line 12 can’t be less than If you pay by EFT, credit card, or debit card, file your
zero. return using the Without a payment address under Where
Should You File, earlier, and don't file Form 941-V,
• If line 12 is less than $2,500 or line 12 on the prior Payment Voucher.
quarterly return was less than $2,500, and you didn't
incur a $100,000 next-day deposit obligation during If you pay by check or money order, make it payable to
the current quarter. You may pay the amount with Form “United States Treasury.” Enter your EIN, “Form 941,” and
941 or you may deposit the amount. To avoid a penalty, the tax period (“1st Quarter 2024,” “2nd Quarter 2024,”
you must pay any amount you owe in full with a timely filed “3rd Quarter 2024,” or “4th Quarter 2024”) on your check
return or you must deposit any amount you owe before the or money order. Complete Form 941-V and enclose it with
due date of the return. For more information on paying Form 941.
with a timely filed return, see the instructions for line 14, If line 12 is $2,500 or more on both your prior and
later. current quarter Forms 941, and you’ve deposited all taxes
• If line 12 is $2,500 or more and line 12 on the prior when due, the balance due on line 14 should be zero.
quarterly return was $2,500 or more, or if you
incurred a $100,000 next-day deposit obligation If you’re required to make deposits and instead
during the current quarter. You must make required ! pay the taxes with Form 941, you may be subject
deposits according to your deposit schedule. The amount CAUTION to a penalty. See Must You Deposit Your Taxes,
shown on line 12 must equal the “Total liability for quarter” earlier.
shown on line 16 or the “Total liability for the quarter” What if you can't pay in full? If you can't pay the full
amount of tax you owe, you can apply for an installment

Instructions for Form 941 (Rev. 3-2024) 11

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agreement online. You can apply for an installment Check the second box on line 16 and enter your tax
agreement online if: liability for each month in the quarter. Enter your tax
• You can't pay the full amount shown on line 14, liabilities in the month that corresponds to the dates you
• The total amount you owe is $25,000 or less, and paid wages to your employees, not the date payroll
• You can pay the liability in full in 24 months. liabilities were accrued or deposits were made. Add the
To apply using the Online Payment Agreement amounts for each month. Enter the result in the “Total
Application, go to IRS.gov/OPA. liability for quarter” box.
Under an installment agreement, you can pay what you Note that your total tax liability for the quarter must
owe in monthly installments. There are certain conditions equal your total taxes shown on line 12. If it doesn't, your
you must meet to enter into and maintain an installment tax deposits and payments may not be counted as timely.
agreement, such as paying the liability within 24 months, Don't change your tax liability on line 16 by adjustments
and making all required deposits and timely filing tax reported on any Forms 941-X.
returns during the length of the agreement. You’re a monthly schedule depositor for the calendar
If your installment agreement is accepted, you will be year if the amount of your Form 941 taxes reported for the
charged a fee and you will be subject to penalties and lookback period is $50,000 or less. The lookback period is
interest on the amount of tax not paid by the due date of the 4 consecutive quarters ending on June 30 of the prior
the return. year. For 2024, the lookback period begins July 1, 2022,
and ends June 30, 2023. For details on the deposit rules,
15. Overpayment see section 11 of Pub. 15. If you filed Form 944 in either
If line 13 is more than line 12, enter the difference on 2022 or 2023, your lookback period is the 2022 calendar
line 15. year.
Never make an entry on both lines 14 and 15. The amounts entered on line 16 are a summary of
your monthly tax liability, not a summary of
If you deposited more than the correct amount for the CAUTION! deposits you made. If you don't properly report
quarter, you can choose to have the IRS either refund the your liabilities when required or if you’re a semiweekly
overpayment or apply it to your next return. Check only schedule depositor and enter your liabilities on line 16
one box on line 15. If you don't check either box or if you instead of on Schedule B (Form 941), you may be
check both boxes, we will generally apply the assessed an “averaged” FTD penalty. See Deposit
overpayment to your next return. Regardless of any boxes Penalties in section 11 of Pub. 15 for more information.
you check or don't check on line 15, we may apply your
overpayment to any past due tax account that is shown in Reporting adjustments from lines 7–9 on line 16. If
our records under your EIN. your net adjustment during a month is negative and it
exceeds your total tax liability for the month, don't enter a
If line 15 is under $1, we will send a refund or apply it to
negative amount for the month. Instead, enter "-0-" for the
your next return only if you ask us in writing to do so.
month and carry over the unused portion of the
Part 2: Tell Us About Your Deposit adjustment to the next month.
Schedule and Tax Liability for This Semiweekly schedule depositor. If you reported more
than $50,000 of taxes for the lookback period, you’re a
Quarter semiweekly schedule depositor. Check the third box on
line 16.
16. Tax Liability for the Quarter You must complete Schedule B (Form 941) and submit
Check one of the boxes on line 16. Follow the instructions it with your Form 941. Don't file Schedule B (Form 941)
for each box to determine if you need to enter your with your Form 941 if you’re a monthly schedule depositor.
monthly tax liability on Form 941 or your daily tax liability Don't change your tax liability on Schedule B (Form
on Schedule B (Form 941). 941) by adjustments reported on any Forms 941-X.
De minimis exception. If line 12 is less than $2,500 or Adjusting tax liability for the qualified small business
line 12 on the prior quarterly return was less than $2,500, payroll tax credit for increasing research activities
and you didn't incur a $100,000 next-day deposit (line 11). Monthly schedule depositors and semiweekly
obligation during the current quarter, check the first box on schedule depositors must account for the qualified small
line 16 and go to Part 3. business payroll tax credit for increasing research
If you meet the de minimis exception based on the activities (line 11) when reporting their tax liabilities on
! prior quarter and line 12 for the current quarter is line 16 or Schedule B (Form 941). The total tax liability for
CAUTION $100,000 or more, you must provide a record of the quarter must equal the amount reported on line 12.
your federal tax liability. If you’re a monthly schedule Failure to account for the qualified small business payroll
depositor, complete the deposit schedule on line 16. If tax credit for increasing research activities on line 16 or
you’re a semiweekly schedule depositor, attach Schedule B (Form 941) may cause line 16 or Schedule B
Schedule B (Form 941). (Form 941) to report more than the total tax liability
reported on line 12. Don't reduce your monthly tax liability
Monthly schedule depositor. If you reported $50,000 or reported on line 16 or your daily tax liability reported on
less in taxes during the lookback period, you’re a monthly Schedule B (Form 941) below zero.
schedule depositor unless the $100,000 Next-Day
Deposit Rule discussed in section 11 of Pub. 15 applies.

12 Instructions for Form 941 (Rev. 3-2024)

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Beginning with the first quarter of 2023, the qualified remaining after reducing its share of social security tax (up
small business payroll tax credit for increasing research to $250,000) and Medicare tax for the third quarter, the
activities is first used to reduce the employer share of remainder would be treated as a payroll tax credit against
social security tax (up to $250,000) for the quarter and any its share of social security tax (up to $250,000) and
remaining credit is then used to reduce the employer Medicare tax on wages paid in the fourth quarter. If the
share of Medicare tax for the quarter until it reaches zero. amount of the payroll tax credit remaining exceeded Rose
In completing line 16 or Schedule B (Form 941), you take Co.'s share of social security tax (up to $250,000) and
into account the payroll tax credit against the liability for Medicare tax on wages paid in the fourth quarter, it could
the employer share of social security tax starting with the be carried forward and treated as a payroll tax credit for
first payroll payment of the quarter that includes payments the first quarter of 2025.
of wages subject to social security tax to your employees
until you use up to $250,000 of credit against the Part 3: Tell Us About Your Business
employer share of social security tax and you then take
In Part 3, answer only those questions that apply to your
into account any remaining payroll tax credit against the
business. If the questions don't apply, leave them blank
liability for the employer share of Medicare tax starting
and go to Part 4.
with the first payroll payment of the quarter that includes
payments of wages subject to Medicare tax to employees. 17. If Your Business Has Closed . . .
Consistent with the entries on line 16 or Schedule B (Form
If you go out of business or stop paying wages, you must
941), the payroll tax credit should be taken into account in
file a final return. To tell the IRS that a particular Form 941
making deposits of employment tax. If any payroll tax
is your final return, check the box on line 17 and enter the
credit is remaining at the end of the quarter that hasn’t
final date you paid wages in the space provided. For
been used completely because it exceeds $250,000 of
additional filing requirements, including information about
the employer share of social security tax and the employer
attaching a statement to your final return, see If Your
share of Medicare tax for the quarter, the excess credit
Business Has Closed, earlier.
may be carried forward to the succeeding quarter and
allowed as a payroll tax credit for the succeeding quarter. 18. If You’re a Seasonal Employer . . .
The payroll tax credit may not be taken as a credit against
income tax withholding, the employee share of social If you hire employees seasonally—such as for summer or
security tax, or the employee share of Medicare tax. Also, winter only—check the box on line 18. Checking the box
the remaining payroll tax credit may not be carried back tells the IRS not to expect four Forms 941 from you
and taken as a credit against wages paid from preceding throughout the year because you haven't paid wages
quarters. regularly.
Example. Rose Co. is an employer with a calendar tax Generally, we won't ask about unfiled returns if at least
year that filed its timely 2023 income tax return on April one taxable return is filed each year. However, you must
15, 2024. Rose Co. elected to take the qualified small check the box on line 18 on every Form 941 you file.
business payroll tax credit for increasing research Otherwise, the IRS will expect a return to be filed for each
activities on Form 6765. The third quarter of 2024 is the quarter.
first quarter that begins after Rose Co. filed the income tax Also, when you complete Form 941, be sure to check
return making the payroll tax credit election. Therefore, the the box on the top of the form that corresponds to the
payroll tax credit applies against Rose Co.'s share of quarter reported.
social security tax (up to $250,000) and Medicare tax on
wages paid to employees in the third quarter of 2024. Part 4: May We Speak With Your
Rose Co. is a semiweekly schedule depositor. Rose Co.
completes Schedule B (Form 941) by reducing the Third-Party Designee?
amount of liability entered for the first payroll payment in If you want to allow an employee, a paid tax preparer, or
the third quarter of 2024 that includes wages subject to another person to discuss your Form 941 with the IRS,
social security tax by the lesser of (1) its share of social check the “Yes” box in Part 4. Enter the name, phone
security tax (up to $250,000) on the wages, or (2) the number, and five-digit personal identification number
available payroll tax credit. If the payroll tax credit elected (PIN) of the specific person to speak with—not the name
is more than Rose Co.'s share of social security tax on the of the firm that prepared your tax return. The designee
first payroll payment of the quarter, the excess payroll tax may choose any five numbers as their PIN.
credit would be carried forward to succeeding payroll
payments in the third quarter until it is used against up to By checking “Yes,” you authorize the IRS to talk to the
$250,000 of Rose Co.'s share of social security tax for the person you named (your designee) about any questions
quarter. If the amount of the payroll tax credit exceeds we may have while we process your return. You also
Rose Co.'s share of social security tax (up to $250,000) on authorize your designee to do all of the following.
wages paid to its employees in the third quarter, any • Give us any information that is missing from your return.
remaining credit is used against Rose Co.'s share of • Call us for information about processing your return.
Medicare tax on the first payroll payment of the quarter • Respond to certain IRS notices that you’ve shared with
and then the excess payroll tax credit would be carried your designee about math errors and return preparation.
forward to succeeding payroll payments in the third The IRS won't send notices to your designee.
quarter until it is used against Rose Co.'s share of
You’re not authorizing your designee to bind you to
Medicare tax for the quarter. If Rose Co. still has credit
anything (including additional tax liability) or to otherwise

Instructions for Form 941 (Rev. 3-2024) 13

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represent you before the IRS. If you want to expand your if the preparer was paid to prepare Form 941 and isn't an
designee's authorization, see Pub. 947. employee of the filing entity. Paid preparers must sign
The authorization will automatically expire 1 year from paper returns with a manual signature. The preparer must
the due date (without regard to extensions) for filing your give you a copy of the return in addition to the copy to be
Form 941. If you or your designee wants to terminate the filed with the IRS.
authorization, write to the IRS office for your location using If you’re a paid preparer, enter your Preparer Tax
the Without a payment address under Where Should You Identification Number (PTIN) in the space provided.
File, earlier. Include your complete address. If you work for a firm,
enter the firm's name and the EIN of the firm. You can
Part 5: Sign Here (Approved Roles)
apply for a PTIN online or by filing Form W-12. For more
Complete all information and sign Form 941. The following information about applying for a PTIN online, go to
persons are authorized to sign the return for each type of IRS.gov/PTIN. You can't use your PTIN in place of the EIN
business entity. of the tax preparation firm.
• Sole proprietorship—The individual who owns the Generally, don't complete this section if you’re filing the
business. return as a reporting agent and have a valid Form 8655 on
• Corporation (including a limited liability company file with the IRS. However, a reporting agent must
(LLC) treated as a corporation)—The president, vice complete this section if the reporting agent offered legal
president, or other principal officer duly authorized to sign. advice, for example, advising the client on determining
• Partnership (including an LLC treated as a whether its workers are employees or independent
partnership) or unincorporated organization—A contractors for federal tax purposes.
responsible and duly authorized partner, member, or
officer having knowledge of its affairs.
• Single-member LLC treated as a disregarded entity How To Get Forms, Instructions, and
for federal income tax purposes—The owner of the Publications
LLC or a principal officer duly authorized to sign.
• Trust or estate—The fiduciary. You can view, download, or print most of the
Form 941 may be signed by a duly authorized agent of forms, instructions, and publications you may
the taxpayer if a valid power of attorney has been filed. need at IRS.gov/Forms. Otherwise, you can go to
IRS.gov/OrderForms to place an order and have them
Alternative signature method. Corporate officers or mailed to you. The IRS will process your order for forms
duly authorized agents may sign Form 941 by rubber and publications as soon as possible. Don't resubmit
stamp, mechanical device, or computer software program. requests you've already sent us. You can get forms and
For details and required documentation, see Rev. Proc. publications faster online.
2005-39, 2005-28 I.R.B. 82, available at IRS.gov/irb/
2005-28_IRB#RP-2005-39.

Paid Preparer Use Only
A paid preparer must sign Form 941 and provide the
information in the Paid Preparer Use Only section of Part 5

14 Instructions for Form 941 (Rev. 3-2024)

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Privacy Act and Paperwork Reduction Act Notice. We ask for the information on these forms to carry out the
Internal Revenue laws of the United States. You’re required to give us the information. We need it to ensure that you’re
complying with these laws and to allow us to figure and collect the right amount of tax. Section 6011 requires you to
provide the requested information if the tax is applicable to you. Section 6109 requires you to provide your identification
number. You’re not required to provide the information requested on a form that is subject to the Paperwork Reduction
Act unless the form displays a valid OMB control number. Books or records relating to a form or its instructions must be
retained as long as their contents may become material in the administration of any Internal Revenue law. Generally, tax
returns and return information are confidential, as required by section 6103. However, section 6103 allows or requires the
IRS to disclose or give the information shown on your tax return to others as described in the Code. For example, we may
disclose your tax information to the Department of Justice for civil and criminal litigation, and to cities, states, the District
of Columbia, and U.S. commonwealths and territories for use in administering their tax laws. We may also disclose this
information to other countries under a tax treaty, to federal and state agencies to enforce federal nontax criminal laws, or
to federal law enforcement and intelligence agencies to combat terrorism.
Estimates of taxpayer burden. These estimates include forms in the Form 941 series, including attachments; Forms
CT-1, CT-2, SS-8, W-2, W-3, 940, 945, 2032, 2678, 8027, 8027-T, 8453-EMP, 8850, 8879-EMP, 8922, 8952, and 8974,
and their schedules; and all the forms employers attach to employment-related tax returns and related wage statements
to employees.
The following table shows burden estimates based on current statutory requirements as of April 15, 2023, for
employers filing employment tax reporting forms and wage statement forms. Time spent and out-of-pocket costs are
presented separately. Time burden is the time spent to comply with employer reporting responsibilities, including
recordkeeping, preparing and submitting forms, and preparing and providing wage statements to employees.
Out-of-pocket costs (“money”) include any expenses incurred to comply with employer reporting responsibilities. The
amount of taxes paid isn’t included in reporting burden.
The time and money burden reported below includes all associated forms and schedules, across all tax return
preparation methods and employer reporting. They are national averages and don’t necessarily reflect a ““typical”
employer’s reporting burden. Most employers experience lower than average burden, with burden varying considerably
by the number of Forms W-2 that an employer files. For instance, the estimated average burden for an employer who
issues four Forms W-2 is 63 hours (15.8 hours x 4) and $2,304 ($576 x 4). The estimated average burden for a large
employer who issues 2,000 Forms W-2 is 800 hours (2,000 x 0.4) and $28,000 (2,000 x $14).

Annual Average Burden
Total Time (hours) Recordkeeping Time Time Spent on W-2 All Other Time Out-of-Pocket Total Monetized
(hours) Activities (hours) (hours) Costs Burden*
Filers with Form 941 65 19 4 42 $2,710 $4,799
Filers with Form 943 57 16 6 35 $935 $1,955
Filers with Form 944 24 4 3 18 $368 $619
*Total monetized burden = Monetized hours + Out-of-pocket costs.

Annual Average Burden per Employee by Number of Employees (Form W-2 Count)
Number of Employees Total Time (hours) Out-of-Pocket Costs Total Monetized Burden*
All 10.7 $404 $700
1 to 5 15.8 $576 $998
6 to 10 5.9 $264 $444
11 to 25 4.4 $190 $327
26 to 50 3.5 $126 $237
51 to 100 2.7 $97 $185
101 to 250 1.8 $90 $159
251 to 500 1.3 $70 $119
501 to 1,000 0.8 $48 $79
Over 1,000 0.4 $14 $28
Filers with Form 941 10.5 $408 $705
Filers with Form 943 19.2 $269 $562
Filers with Form 944 12 $198 $334
*Total monetized burden = Monetized hours + Out-of-pocket costs.

Comments. If you have comments concerning the accuracy of these time estimates or suggestions for making Form
941 simpler, we would be happy to hear from you. You can send us comments from IRS.gov/FormComments. Or you can
send your comments to Internal Revenue Service, Tax Forms and Publications Division, 1111 Constitution Ave. NW,
IR-6526, Washington, DC 20224. Don’t send Form 941 to this address. Instead, see Where Should You File, earlier.

Instructions for Form 941 (Rev. 3-2024) 15

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