Advice on 941 Tax Form

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Q: How do I fill out this 941 tax form if my business never paid wages?
My husband opened an LLC last year in November. He got as far as doing the state paperwork and filling for his EIN. He never went into business because he got a better opportunity with his old company. Several months ago, we got the 941 forms for reporting wages. I checked the box that the business was closed or didn’t pay any wages. I can’t remember what I put for the date the wages were paid. I may have left it blank because it was not applicable since wages were never paid. I got another 941 for the third quater and don’t want to have to keep filling these out with zeros because no wages were paid. What should I use as the date that wages were last paid since again it is not applicable being wages were never paid? Should I use the date of incorporation? Also, my husband doesn’t want to dissolve the LLC because he has it should he need it later on. Can he just keep the LLC but stay inactive as far as operating and paying wages? Does this need to go on his personal return?

A: Here is the site’s your need to answer your question’s. Also contacts to actually speak to a real person if need be.

Good Luck hope this helps.

U.S. Department of Labor
Frances Perkins Building
200 Constitution Avenue, NW
Washington, DC 20210
1-866-4-USA-DOL
TTY: 1-877-889-5627

http://www.irs.gov/businesses/index.html

http://www.irs.gov/individuals/article/0,,id=128614,00.html

CP 139 – You May Not Need to File Forms 940 or 941

Details About This Notice: Sample Content: Page 1
Purpose: We send a CP 139 to inform the recipient that they will no longer need to file Form 941 unless they owe tax.
Reason for Issuance: The recipient filed Form 941 with no tax due for the previous four quarters. We send CP 139 to inform them that we’ll no longer send them Forms 940 or 941, they won’t need to file Form 941 again unless they owe tax for the quarter, and how to request that the forms be sent to them if they need them in the future.

Q: How do you fill out the Employer’s Quarterly Federal Tax return, form 941? especially line 7a.?
I can get up to where you have to do the adjustments and not sure where to go from there.

A: In the majority of cases, line 7 and all its sub-lines doesn’t have anything on them. Unless you have corrections or adjustments from previous quarters or sick pay compensation or penny rounding (fractional cents), you can on the most part ignore this section. You can get a copy of the instructions for filing out Form 941 at www.irs.gov.

Good luck.

Q: When is 3rd quarter payroll tax payment and form 941 due?
I am a little confused about the payroll tax. I need to know when I need to have the payment to the IRS.

A: Read the instructions for Form 941 http://www.irs.gov/pub/irs-pdf/i941.pdf carefully. It’s all clearly explained there. The 3rd quarter return is due no later than Oct 31, 2009.

Normally you are required to make monthly or semi-weekly payroll tax deposits or EFTPS payments, not pay with the return. There’s an exception to that rule if the total tax is LESS than $2,500 in which case you can enclose a check with Form 941-V with the return. Again, this is all explained in the instructions linked above.

Q: Generating tax form 940 and 941 from 1120?
I have 1120 only from Y2006 and my accountant passed away. IRS and some states are asking for quarterly and monthly tax forms that seem to have missed out. Is there any way to create 940/941 from 1120? Also any web forum to discuss such accounting questions is greatly appreciated.

A: I have prepared employment tax returns from other than payroll information in the past if there was no other way to do it, but it is not terribly accurate but may be as good as it is going to get. If you don’t file and IRS files for you, the amount they will compute will probably be excessive so you should do as much as possible to zero in on an accurate amount.
Using wages on an 1120 may produce a close estimate but there are better ways to do it. Some research into other records is in order before putting an employment return together.

Q: How do I pay quarterly taxes (form 941) if my employees are all independent contractors?
I pay them their gross income..NOTHING is withheld. Do I have to do the calculations anyway and include Income tax withheld from wages on the form? What about social security and medicare, what do I do?

A: What do you think you are going to pay ? What taxes have you withheld to pay ?

941 is reconciliation and payment of payroll taxes withheld from the employee’s
paychecks – 1099 Independent Contractors are not reported on the 941 and
you don’t use this form at all.

Q: If I have household employees & have filed Form 941 & paid payroll taxes how do I report this on my tax return
If I file Schedule H with my tax return, it makes me pay the payroll taxes all over again. I don’t exactly have a business, but my previous tax preparer started me filing Form 941 and paying payroll taxes as if I was a business. Then when she filed my tax returns, she filed Schedule H and made me double pay the payroll taxes. I obviously need a new tax preparer, but I want to figure this out so when I talk to new preparers I can understand if they know what they’re doing or not. I plan to amend as far back as possible so that I can get refunds of all of this overpaid tax, but I don’t know how it should have been filed instead of Schedule H. Help!

A: The purpose of filing Schedule H with your tax return is to pay in all federal taxes on your household employees. This would include all federal withholding, social security, medicare, and federal unemployment tax. If you don’t have a business, you should file your payroll info on Schedule H. You would not need to file Form 941 every quarter. If she filed 941s Im assuming she also filed Form 940 for the federal unemployment tax. This could all be filed on your individual tax return in the future.

For 2006, if 941s/940 were filed, do not report anything on your Schedule H.

If you double paid in previous years, you should amend those personal tax returns in order for you to get the taxes refunded. Remove Schedule H from your tax returns for the years that 941s were filed. You would not be able to amend prior to 2003. The amended 2003 tax return is due 4/17/07.

If there are state taxes withheld however, you would have to file state quarterly payroll tax returns.

Q: I have formed a single person LLC. Do I have to file IRS form 941 (Federal Quarterly Tax Return)?

A: If you have no employees including yourself then the answer is no. 941 are used to forward the taxes you withhold from your employees wages to the IRS. If you pay yourself on a W2 then you must file a 941. if you claim all your profit on Schedule C then you will pay your self employment taxes on Schedule SE, if you owe more than $1,000 you will probably have to pay a penalty and be subject to estimated taxes.

Q: Tax Question: Form 941?
This is my first year in business. I started an LLC and am the sole member and only worker. I got a letter from the IRS saying I need to do a Form 941. Is my number of employees 1 (me) or 0 (I haven’t hired anyone).
Yes I did goof. I thought I was going to hire an employee so I took the steps, but then ended up not hiring anyone as my workload decreased and I was able to complete it myself. Should I fill out the 941 with 0’s all the way down?

A: Don’t even file 941s and any other payroll tax returns (ie. state) if your LLC has never done so before; otherwise, you’d have to keep filing zero returns until your business situation changes.

Respond back to the IRS from the notice you’d have no employees and are not required to file. This way, the IRS would know not to expect quarterly/annual payroll tax returns from your LLC until things change.

Members (owners) of LLCs are never employees, you are self-employed.

Q: my former employer went out of business and has not filed her 941 form for tax period ending june 2007?
will this effect me when i file my tax return in a couple of weeks.she has always had problems with the irs since i have worked for her the past 6 years. she went out of business with no notice and when i filed unemployment they had no record for one quarter of 2007 for wages. so i had to dig up an old paystub to prove i worked for her during that quarter. now i find out she has not filed the 941 for june 2007.

A: I am assuming you have your W2, and you agree with the amounts on the W2. In that case, you will have no problems.

The IRS will deal with your employer directly concerning the 941.

Q: corporate Tax forms 941 1120 940 file Online??
I created a small corporation! and now I don’t know what to do! I need to file forms
form 941-(even tho I dont have any employees)
form 1120
and form 940
Can i do all this online? wihtout any paper work?? I really dont have the money for an accountant or maybe does anyone know a online accountant? thats really cheap for now?
Please help!
I am in NJ

A: If you have no employees, you do not need to file Forms 941 & 940. You should have yourself as an employee because IRS insists that officers of corporations be paid a reasonable salary. Do Form 1120 on paper. Have you made or considered a Subchapter S election? Your accountant can explain this to you. If you don’t have an accountant, get one because it looks like you don’t have a handle on your tax obligations.

Q: Where should I mail back for form 941 Employer’s Quarterly Federal Tax Return?

A: See the bottom of page 4 of the instructions:

http://www.irs.gov/pub/irs-pdf/i941.pdf

Q: where do i report the 940 and 941 taxes paid on the 1120-s form?
This is the first year we have a w-2 officers salary. We paid 940,941 and UTC6 taxes for the last quarter of 2009. Now I am finishing the 1120-s form and put in officers salary, but where do I enter the amount the corporation paid in employment taxes? including the UTC6 for florida.

A: Report them as taxes. Except for the withheld taxes, those are part of officers salaries.

Q: If we have an LLC partnership and we paid no employees do we still file form 941?
We only have an ownership interest in the profit of the company but have paid no employees because we don’t have any. Would a form 941 Employer’s QUARTERLY Federal Tax Return be required in our case?

A: you need to file each and every 941 as the come due unless you do not intend to employee people thereby filing a ‘final’ return
that will stop the requirement for filing every quarter but IRS does not know if you are just not employing people or avoiding paying your taxes

Q: Form 941, Employer’s Quarterly Federal Tax Return?
Hi,

I have a started a corporationa and do not have any employees yet. When I try to file my Employers Quarterly Federal Tax Return through eftps.gov, there is nothing like zero dollar return. eftps.gov saying I should enter alteast 0.01. What do I need to do? Please let me know.

Thanks in advance.
eftps.gov doesnt have the support to file zero dollar tax return. I have printed out the form 941 and sent with all zero numbers.

A: If you have no employees you have no obligation to file the return.

Q: The required form that is filed with the Internal Revenue Service?
The required form that is filed with the Internal Revenue Service showing the amount due for income taxes withheld and FICA taxes is the
Employment Withholding Allowance Certificate (Form 941)
Wage and Tax Statement (Form W-2)
Employer’s Quarterly Federal Tax Return (Form 941)
Corporate Income Tax Return (Form 1120)

A: As a private party filing your taxes, the form you would use is W-2.

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