Federal Employer's Quarterly Federal Tax Return
Extracted from PDF file 2020-federal-form-941.pdf, last modified October 2020
Employer's Quarterly Federal Tax Return941 for 2020: Form (Rev. July 2020) Employer’s QUARTERLY Federal Tax Return 950120 OMB No. 1545-0029 Department of the Treasury — Internal Revenue Service Report for this Quarter of 2020 — Employer identification number (EIN) (Check one.) 1: January, February, March Name (not your trade name) 2: April, May, June Trade name (if any) 3: July, August, September 4: October, November, December Address Number Street Suite or room number City State Foreign country name Go to www.irs.gov/Form941 for instructions and the latest information. ZIP code Foreign postal code Foreign province/county Read the separate instructions before you complete Form 941. Type or print within the boxes. Part 1: Answer these questions for this quarter. Number of employees who received wages, tips, or other compensation for the pay period including: Sept. 12 (Quarter 3) or Dec. 12 (Quarter 4) . . . . . . . . . . 1 2 Wages, tips, and other compensation . . . . . . 2 3 Federal income tax withheld from wages, tips, and other compensation . . . . . . 3 4 If no wages, tips, and other compensation are subject to social security or Medicare tax 1 . . . . . Column 1 . . . . . . Column 2 . . . . . . 5a Taxable social security wages . . 5a (i) Qualified sick leave wages . . 5a (ii) Qualified family leave wages . 5b Taxable social security tips . . . 5c Taxable Medicare wages & tips . . 5d Taxable wages & tips subject to Additional Medicare Tax withholding 5e Total social security and Medicare taxes. Add Column 2 from lines 5a, 5a(i), 5a(ii), 5b, 5c, and 5d 5f Section 3121(q) Notice and Demand—Tax due on unreported tips (see instructions) 6 Total taxes before adjustments. Add lines 3, 5e, and 5f . . . . . . . . . 7 Current quarter’s adjustment for fractions of cents . . . . . . . . . 8 Current quarter’s adjustment for sick pay . . . . . . . . 9 Current quarter’s adjustments for tips and group-term life insurance . 10 Total taxes after adjustments. Combine lines 6 through 9 × 0.124 = × 0.062 = × 0.062 = × 0.124 = × 0.029 = × 0.009 = Check and go to line 6. . . . . . . 5e . . 5f . . . 6 . . . . 7 . . . . . 8 . . . . . . 9 . . . . . . 10 11a Qualified small business payroll tax credit for increasing research activities. Attach Form 8974 11a 11b Nonrefundable portion of credit for qualified sick and family leave wages from Worksheet 1 11b 11c Nonrefundable portion of employee retention credit from Worksheet 1 11c ▶ . . . . . . . . . . . . . . . . Next ■▶ You MUST complete all three pages of Form 941 and SIGN it. For Privacy Act and Paperwork Reduction Act Notice, see the back of the Payment Voucher. . . . . . . . . . . Cat. No. 17001Z Form 941 (Rev. 7-2020) 950220 Name (not your trade name) Part 1: Employer identification number (EIN) Answer these questions for this quarter. (continued) 11d Total nonrefundable credits. Add lines 11a, 11b, and 11c . . 11d 12 Total taxes after adjustments and nonrefundable credits. Subtract line 11d from line 10 . 12 13a Total deposits for this quarter, including overpayment applied from a prior quarter and overpayments applied from Form 941-X, 941-X (PR), 944-X, or 944-X (SP) filed in the current quarter 13a 13b Deferred amount of social security tax . 13c Refundable portion of credit for qualified sick and family leave wages from Worksheet 1 13d Refundable portion of employee retention credit from Worksheet 1 . . . . 13d 13e Total deposits, deferrals, and refundable credits. Add lines 13a, 13b, 13c, and 13d . . . 13e 13f Total advances received from filing Form(s) 7200 for the quarter . . . 13f 13g Total deposits, deferrals, and refundable credits less advances. Subtract line 13f from line 13e . 13g 14 Balance due. If line 12 is more than line 13g, enter the difference and see instructions . 15 Overpayment. If line 13g is more than line 12, enter the difference Part 2: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13b 13c . 14 Check one: Apply to next return. Send a refund. Tell us about your deposit schedule and tax liability for this quarter. If you’re unsure about whether you’re a monthly schedule depositor or a semiweekly schedule depositor, see section 11 of Pub. 15. 16 Check one: Line 12 on this return is less than $2,500 or line 12 on the return for the prior quarter was less than $2,500, and you didn’t incur a $100,000 next-day deposit obligation during the current quarter. If line 12 for the prior quarter was less than $2,500 but line 12 on this return is $100,000 or more, you must provide a record of your federal tax liability. If you’re a monthly schedule depositor, complete the deposit schedule below; if you’re a semiweekly schedule depositor, attach Schedule B (Form 941). Go to Part 3. You were a monthly schedule depositor for the entire quarter. Enter your tax liability for each month and total liability for the quarter, then go to Part 3. Tax liability: Month 1 Month 2 Month 3 Total liability for quarter . . . . Total must equal line 12. You were a semiweekly schedule depositor for any part of this quarter. Complete Schedule B (Form 941), Report of Tax Liability for Semiweekly Schedule Depositors, and attach it to Form 941. Go to Part 3. ▶ You MUST complete all three pages of Form 941 and SIGN it. Page 2 Next ■▶ Form 941 (Rev. 7-2020) 952920 Name (not your trade name) Part 3: 17 Employer identification number (EIN) Tell us about your business. If a question does NOT apply to your business, leave it blank. If your business has closed or you stopped paying wages . / enter the final date you paid wages / . . . . . . . . . . . . . . Check here, and ; also attach a statement to your return. See instructions. 18 If you’re a seasonal employer and you don’t have to file a return for every quarter of the year . 19 Qualified health plan expenses allocable to qualified sick leave wages . . . . . . 19 20 Qualified health plan expenses allocable to qualified family leave wages . . . . . . 20 21 Qualified wages for the employee retention credit . . . . . . . 21 22 Qualified health plan expenses allocable to wages reported on line 21 . . . . . . . 22 23 Credit from Form 5884-C, line 11, for this quarter . . . . . . 23 . . . . . 24 Deferred amount of the employee share of social security tax included on line 13b . . . 24 . 25 Reserved for future use . . . 25 . Part 4: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Check here. May we speak with your third-party designee? Do you want to allow an employee, a paid tax preparer, or another person to discuss this return with the IRS? See the instructions for details. Yes. Designee’s name and phone number Select a 5-digit personal identification number (PIN) to use when talking to the IRS. No. Part 5: Sign here. You MUST complete all three pages of Form 941 and SIGN it. Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. ✗ Print your name here Sign your name here Date Print your title here / / Best daytime phone Paid Preparer Use Only Check if you’re self-employed Preparer’s name PTIN Preparer’s signature Date Firm’s name (or yours if self-employed) EIN Address Phone City Page 3 State / . . . / ZIP code Form 941 (Rev. 7-2020) 951020 This page intentionally left blank Form 941-V, Payment Voucher Purpose of Form Specific Instructions Complete Form 941-V if you’re making a payment with Form 941. We will use the completed voucher to credit your payment more promptly and accurately, and to improve our service to you. Box 1—Employer identification number (EIN). If you don’t have an EIN, you may apply for one online by visiting the IRS website at www.irs.gov/EIN. You may also apply for an EIN by faxing or mailing Form SS-4 to the IRS. If you haven’t received your EIN by the due date of Form 941, write “Applied For” and the date you applied in this entry space. Box 2—Amount paid. Enter the amount paid with Form 941. Box 3—Tax period. Darken the circle identifying the quarter for which the payment is made. Darken only one circle. Box 4—Name and address. Enter your name and address as shown on Form 941. • Enclose your check or money order made payable to “United States Treasury.” Be sure to enter your EIN, “Form 941,” and the tax period (“1st Quarter 2020,” “2nd Quarter 2020,” “3rd Quarter 2020,” or “4th Quarter 2020”) on your check or money order. Don’t send cash. Don’t staple Form 941-V or your payment to Form 941 (or to each other). • Detach Form 941-V and send it with your payment and Form 941 to the address in the Instructions for Form 941. Note: You must also complete the entity information above Part 1 on Form 941. To avoid a penalty, make your payment with Form 941 only if: • Your total taxes after adjustments and nonrefundable credits (Form 941, line 12) for either the current quarter or the preceding quarter are less than $2,500, you didn’t incur a $100,000 next-day deposit obligation during the current quarter, and you’re paying in full with a timely filed return; or • You’re a monthly schedule depositor making a payment in accordance with the Accuracy of Deposits Rule. See section 11 of Pub. 15 for details. In this case, the amount of your payment may be $2,500 or more. Otherwise, you must make deposits by electronic funds transfer. See section 11 of Pub. 15 for deposit instructions. Don’t use Form 941-V to make federal tax deposits. Use Form 941-V when making any payment with ! Form 941. However, if you pay an amount with CAUTION Form 941 that should’ve been deposited, you may be subject to a penalty. See Deposit Penalties in section 11 of Pub. 15. ▲ Form ✁ ▼ Detach Here and Mail With Your Payment and Form 941. 941-V Payment Voucher Department of the Treasury Internal Revenue Service 1 ▼ ▶ Don’t OMB No. 1545-0029 2020 staple this voucher or your payment to Form 941. 2 Enter your employer identification number (EIN). ✃ Making Payments With Form 941 Dollars Cents Enter the amount of your payment. ▶ Make your check or money order payable to “United States Treasury” 4 Enter your business name (individual name if sole proprietor). 3 Tax Period 1st Quarter 3rd Quarter 2nd Quarter 4th Quarter Enter your address. Enter your city, state, and ZIP code; or your city, foreign country name, foreign province/county, and foreign postal code. Form 941 (Rev. 7-2020) Privacy Act and Paperwork Reduction Act Notice. We ask for the information on Form 941 to carry out the Internal Revenue laws of the United States. We need it to figure and collect the right amount of tax. Subtitle C, Employment Taxes, of the Internal Revenue Code imposes employment taxes on wages and provides for income tax withholding. Form 941 is used to determine the amount of taxes that you owe. 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. If you fail to provide this information in a timely manner, or provide false or fraudulent information, you may be subject to penalties. 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 and 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 possessions 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. The time needed to complete and file Form 941 will vary depending on individual circumstances. The estimated average time is: Recordkeeping . . . . . . . . . . 20 hr., 19 min. Learning about the law or the form . . . . 53 min. Preparing, copying, assembling, and sending the form to the IRS . . . . . 1 hr., 16 min. 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 www.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? in the Instructions for Form 941.
Form 941 (Rev. July 2020)
More about the Federal Form 941 Corporate Income Tax TY 2020
Complete Form 941-V if you're making a payment with Form 941. The IRS will use the completed voucher to credit your payment more promptly and accurately.
We last updated the Employer's Quarterly Federal Tax Return in January 2021, so this is the latest version of Form 941, fully updated for tax year 2020. You can download or print current or past-year PDFs of Form 941 directly from TaxFormFinder. You can print other Federal tax forms here.
Related Federal Corporate Income Tax Forms:
The Internal Revenue Service usually releases income tax forms for the current tax year between October and January, although changes to some forms can come even later. We last updated Federal Form 941 from the Internal Revenue Service in January 2021.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Federal Form 941
We have a total of ten past-year versions of Form 941 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
Form 941 (Rev. July 2020)
Form 941 (Rev. January 2019)
Form 941 (Rev. January 2018)
Form 941 (Rev. January 2017)
Form 941 (Rev. January 2016)
Form 941 (Rev. January 2015)
Form 941 (Rev. January 2014)
Form 941 (Rev. January 2013)
Form 941 (Rev. January 2012)
Form 941 (Rev. January 2012)
While we do our best to keep our list of Federal Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.