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Music hi welcome to another Rs forms video today we're covering tips for filling out IRS form 941 employers quarterly federal tax return if you're doing payroll taxes for your clients you'll be filling out the 941 regularly and even if your business clients use some other service for payroll such as ATP or gussto it's good to be aware of their payroll situation so you can help them avoid costly penalties let's jump in so tip number one what is form 941 federal law requires employers to withhold certain taxes from their employees pay typically income Medicare and Social Security taxes in addition employers are responsible for paying an additional employer share of Social Security and Medicare taxes collectively these withholdings are generally referred to as payroll taxes form 941 is used to report those payroll taxes as well as wages paid by an employer however that doesn't mean that all income should be reported on form 941 don't use this form to report back up withholding or income tax withholding on non payroll payments such as pensions annuities or gambling winnings withholdings from these forms of income are reported on Form 945 an annual return of withheld federal income tax tip number two deposit dates versus form filing dates tax deposit dates and form filing dates are different and you shouldn't confuse the two payroll taxes are typically paid either monthly or semi-weekly depending on the amount of employment taxes paid by the employer for the previous year form 941 filing dates however are the same for everyone and not the same as deposit dates form 941 is a summary of what you've already paid in payroll taxes and must be submitted quarterly filing dates are April 30th July 31st October 31st and January 31st tip number three businesses with zero to report must still file form 941 most of the time once businesses started filing their quarterly nine forty ones they must continue to file every quarter thereafter this is true even for small businesses that have no taxes to report for that quarter the IRS will hit the business with failure to file penalty if you don't file form 941 every quarter even if they have no wages to report however the IRS does make a few exceptions to these rules seasonal employers such as lawn care companies can check the box online 18 of the 941 to indicate that they will only be filing a 941 for quarters when they paid wages this box must be checked every time a 941 is filed by an unseasonal employer additionally employers of farm or household employees don't usually file a form 941 for more information on household employee tax refer to publication 926 for more information on agriculture employee tax refer to publication 51 tip number four when and how to close out a 941 closing out a 941 is fairly simple just check the box on line 17 and enter the final date the employer