Businesses must comply with government policies and file Form 941 to pay employment taxes. It is quite a task requiring concentration to report taxes precisely. QuickBooks helps users with payroll services that simplify tax filing and save time. You file QuickBooks Form 941 based on the taxes you pay to the U.S. federal government and your business type. If you are looking for an easy way out of this hefty task, this blog is for you. It provides a detailed and systematic approach to filing and printing in the QBDT and online. Let’s get started and understand each aspect of the process to achieve the highest efficiency rate.
Are you hesitant to file the QuickBooks Form 941 on your desktop or online? Refer to this blog post for help, or call our QuickBooks ProAdvisors at +1(844) 580-0110 and receive guided assistance throughout. You may also ask them to do the task on your behalf.
Do you know what Form 941 is?
IRS Form 941 is the Employer’s Quarterly Federal Tax Return. Employers use this form to pay the income taxes, Social Security, and Medicare taxes they take from their employees’ paychecks. Form 941 is required for non-agriculture businesses that owe more than $1,000 in taxes, including Social Security and Medicare taxes. Most corporations use this form to send to the IRS quarterly.
As a business owner using QB services, you need to file QuickBooks Form 941 to report any federal withholdings. It is an essential tool for small and mid-sized businesses to report and remit payroll taxes to the federation. It offers a detailed analysis of employee salary and compensation, helping businesses calculate the exact tax amount owed and comply with taxes at the same time.
Frequency of your Federal Tax payments:
According to the IRS (Internal Revenue Service), you have two options on the frequency of your ability to make the deposit: semiweekly and monthly.
▪ Semiweekly
If you are a Semiweekly Depositor and get your paycheck on Wednesday, Thursday, or Friday, pay your taxes the next Wednesday. If you get your paycheck on Saturday, Sunday, or Monday, pay your taxes the next Friday.
▪ Monthly
Monthly Depositors must remit their federal taxes by the 15th day of the subsequent month. If the 15th falls on a weekend or a federal holiday, the taxes are due on the next business day. Check the table to know if you are a semiweekly or monthly depositor:
| Deposit Schedule | Threshold for Each Deposit Schedule |
Monthly | Businesses who reported less than $50,000 in taxes during the look-back period |
Semi-Weekly | Businesses who reported more than $50,000 in taxes during the look-back period |
QuickBooks Payroll 941 Assistance
With QuickBooks, you experience a smooth process to file form 941 in QuickBooks Desktop and Online. With the application, you can perform all the tasks perfectly. You can set up or change your federal tax form and your tax payment frequency.
How to set up your Federal Tax Form (941, 943, 944)?
This blog section highlights how to map access and the QuickBooks Form 941. You can set the frequency of your payments and the type of form you need to fill out.
QBO users refer below:
• First, enter your QBO account and click the Settings tab.
• Now click on the Payroll Settings and select Edit beside the Federal tax.
• Hit the Edit option under the How often do you pay your taxes?
• You can select the form you want to file, the frequency of tax payments, and the effective date here.
QBDT users may refer here:
• If you use QuickBooks Desktop Payroll Assisted, you can email taxnoticeresolution@intuit about your change notice, which will be sent to you.
• QuickBooks Desktop Payroll Enhanced users can choose the correct form required to file when the date is due.
◦ Move to the Employees section on the desktop and click Payroll Center.
◦ Tap on File Forms, and you can select the form to file.
Guide to File form 941 in QuickBooks Desktop & Online How to File Form 941 in QuickBooks Online to IRS?
The QBO users can choose how to handle their payroll taxes and filings. Below is an explained procedure on how to complete this task using the online method:
First Step: Set up your Payroll Taxes Fully
It is the most important step to completely set up your payroll tax table. Only then can you jump to the next step: e-pay or e-file the taxes in QuickBooks Form 941.
Second Step: E-pay the Taxes
Ensure that you have enough funds when paying the payroll taxes. Now follow the steps given below promptly:
• Head to the Taxes option in QB and choose Payroll Tax.
• Now click on Payments, and a list of current due taxes will appear in the Action Needed window.
• The taxes due soon will show up in the Coming Up section.
• Apply a filter to view the particular tax to be paid.
• Next, hit Pay on the tax to make the payment.
• You are supposed to select the correct payroll bank account from the Chart of Accounts.
• Check the payment date. You may also select an alternative payment date.
• Finally, tap on the E-pay option and review the transaction in the Payment History.
Third Step: E-file the Federal Tax Form 941
QuickBooks reminds you of your form’s due dates. You only have to ensure that you have paid all the taxes related to Form 941 and then file.
• Visit the Taxes section in QuickBooks and select Payroll Tax.
• Choose the Filings option.
• Here also, the forms now due will be under Action Needed, while the ones due later can be found in Coming Up.
• Go to the form you want to file (941) and tap on File.
• Next, select the box File Electronically and hit Submit.
• Once the task is completed, you may preview your filed form under Done.
• Also, print as per requirement.
How can you File form 941 in QuickBooks Desktop to remit taxes?
You can file the Employment Form 941in Quickbooks Desktop easily with the help of the simplified steps given below:
First Step: E-pay and E-File Setup in QBDT
Before launching into the payment and filings, you must first complete the setup of Federal E-pay and E-file in the QB Desktop Payroll Enhanced. Once you have finished updating and completing this task, move to pay in the next step.
Second Step: Make E-payments for Federal Taxes
Important Note:
• If you owe the IRS more than $100,000 during a tax period, you must pay the IRS on the EFTPS website by the next business day.
• You can pay your bills 2 days before their due dates via online method. However, if it’s past 5:00 PM on the due date, you must navigate to the IRS EFTPS site to make payments.
Undertake the following steps to E-pay your taxes in QuickBooks Desktop:
• On the desktop, navigate to the Employees tab and the Payroll Center.
• Now, hit the Pay Liabilities button and select Pay Taxes & Other Liabilities.
• Herein, choose the Liabilities you need to pay.
• Next, View/Play. • Further, tap on E-Pay.
• You will be taken to the login window to enter the 4-digit EFPTS PIN and other login details.
• Click on the Submit button.
• You can take a print of the confirmation notice signed by Intuit.
Third Step: Federal Form 941 E-filing
Now jump on to E-File the form in QBDT:
• Toggle to the Employees menu in QB.
• Now, click on the Payroll Tax Forms and W-2s > Process Payroll Forms.
• Select the form you need to file from the federal forms list.
• Then, tap on Create Form.
• You are now supposed to select the period for which the form will be filled out.
• Review the entire form and Check for Errors.
• Hit on the Submit Form.
• Later, type in your PIN of the 10-digit IRS and follow the desktop screen instructions.
• Remember, you don’t require a PIN when filing a W-2 form.
• You will get the confirmation of your filed form within 1-2 business days.
• After that, you may review the status by clicking on Check E-File or E-Pay Status.
Guide to Print Form 941 in QBDT & Online accurately. Print 941 Form in QuickBooks Online
After paying, filing or reporting the QuickBooks Form 941, you can take a print of it and document it.
Take E-File Form Print
The clear steps for electronically filed form are given below:
• First, log in to your QBO profile.
• Head on to the Taxes button and hit the Payroll Tax option.
• Select the Forms tab and then choose Form 941.
• In the end, click on the print icon or option on the screen to get a hard copy as proof.
Take Manually Filed Form Print For the form filled manually,
• Move to Taxes > Payroll Tax > Filings.
• Now, in the File menu, select the period of the form filed.
• Next, tap on Archive to move the File to the Archive folder or save it.
• Again, move back to Payroll tax and then to Filings.
• Here, hit the Resources button to access the Archived Forms and Fillings folder.
• Locate the form you want to preview by filtering the list.
• When found, click on the form to view it.
Print your federal form 941 in QuickBooks Desktop
You can conveniently access or take a print of the previously filed form 941, irrespective of the method of filling, manually or electronically. You can view the saved or paid forms with the help of these prompts:
• Navigate to your QB application and click on the Employees tab in the top menu.
• Select the following tabs: Payroll Center > File Forms > Filing History.
• Now, choose either Save Filings or E-Filings option.
• Lastly, take a printout of the federal document form.
Revise QuickBooks Form 941
Non-agricultural Businesses working with Employees are required to file federal payroll form 941. The amount of tax you accrue each year is determined by the IRS, and you can choose your federal form filing frequency, whether semiweekly or monthly. QuickBooks Form 941 is an excellent feature that helps Employers handily file these forms and ensure tax compliance. In this blog, you gained insights on how to effectively pay, file, print and manage your federal forms and taxes. However, if you face any issues in complying with the procedure, you should instantly call the QuickBooks experts at +1(844) 580-0110 before your paychecks are due.