Form 941 Definition

Form 941, Employer’s Quarterly Federal Tax Return, is a payroll form reporting the total federal taxes that employers have withheld from employee compensation during the quarter.

Form 941 Extended Definition
Employers are required to withhold federal income tax, Medicare tax, and Social Security tax from employees’ compensation and remit them to the IRS. Employers report the total withheld payroll tax during the quarter on Form 941.

The form is due four times per year:

January – March (Quarter 1): April 30
April – June (Quarter 2): July 31
July – September (Quarter 3): October 31
October – December (Quarter 4): January 31

A calculation of the total taxes and deposits for the period is required. The difference is the amount owed and due for payment. Employers can submit the form electronically.

There are payroll services, like Patriot’s Full Service Payroll, that handle payroll tax filing and deposits.

Last Updated By

Rachel Blakely-Gray | Apr 27, 2023

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