941 Overview for New Employers

Are you paying employees for the very first time? If so, you may have questions about filing your Employers Quarterly Federal Tax Return or Form 941. A form 941 provides the IRS with a report of the taxable wages your company has paid to its employees.

 

They use this form to compare the tax deposits you make and your employee’s year-end W-2 forms. So be careful - the form and all of the information that goes on it has to be exactly right.

 

Most employers, even small ones, are required to file a 941. Watch our video to find out what else you need to know.

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