ROCK HILL, SC / ACCESSWIRE / October 9, 2024 / The deadline for filing Form 941 for Q3 2024 is approaching quickly-business owners must submit their forms by October 31, 2024. TaxBandits, an IRS-authorized e-file provider, is a trusted partner to help ensure last-minute filings are completed on time.
With TaxBandits, employers can enhance the accuracy of their 941 e-filing and submit Form 941 with ease. It's important for employers to meet all four quarterly filing deadlines
Essential Requirements for Form 941 Filing
Form 941 reports federal income tax, Social Security, and Medicare tax withheld from employee's paychecks. It also reports the employer's share of FICA taxes to the IRS.
Before filing Form 941, gathering all the necessary information helps ensure a seamless tax filing process. The information required to file Form 941 includes:
Number of employees
Quarter Details
Total wages paid
Wages, tips, and other compensation
Federal income tax withheld from each employee
Employer and employee share of FICA taxes.
Additional Requirement for Semi-Weekly Depositors
Semi-weekly depositors must attach Form 941 Schedule B along with Form 941. Employers must attach this form if they fall under the following categories.
Reported $50,000 or more of employment taxes in the lookback period
Accumulated tax liability of $100,000 or more on any given day in the current or prior calendar year, deposit the taxes by the next business day.
TaxBandits simplifies e-filing for semi-weekly depositors with its built-in 941 Schedule B, which can be easily attached to Form 941.
Q3, 2024 Deadline for Form 941
Failing to file Form 941 by the deadline can result in unwanted penalties. Meeting the deadline helps business owners file taxes on time and avoid IRS penalties for late 941 filing. Here are the 941 due dates for the 2024 tax year:
First Quarter (Jan, Feb, Mar) - April 30, 2024
Second Quarter (Apr, May, Jun) - July 31, 2024
Third Quarter ( Jul, Aug, Sep) - October 31, 2024
Fourth Quarter (Oct, Nov, Dec) - January 31, 2025
Streamlined 941 Filing Features from TaxBandits
TaxBandits offers exclusive features to enhance the efficiency and accuracy of filing Form 941, saving time and simplifying the process:
Bulk e-sign: Send multiple e-sign requests and sign multiple forms all at once.
Bulk upload: File for multiple clients using our 941 Excel template to reduce manual effort and minimize errors.
Balance due: Easily pay the balance due with multiple payment options.
Copy return: If you've filed 941 returns before, copy specific details from the previous quarter to the current form, reducing errors and simplifying filings.
Zero reporting: If you have no taxes to report for the current quarter, report zero wages with a single click.
Instant status updates: Receive real-time updates from TaxBandits on the status of your 941 return filing.
Seamless Tax Payment Solutions
TaxBandits supports EFTPS Online Payments, enabling businesses to make secure federal tax payments directly through the platform, adding convenience and streamlining the tax filing process.
Businesses, tax professionals, and aggregate filers can begin their 941 filing journey today by creating a free account at taxbandits.com.
About TaxBandits
TaxBandits is a SOC 2 Certified, IRS-authorized e-file provider specializing in various tax forms such as Form 941, Form 940, Form 1099, Form W-2, Form 1095-C, Form 1095-B, and Form W-9. Serving businesses, service providers, or tax professionals of every shape and size, TaxBandits offers a complete solution that fulfills all filing needs.
BOI Reporting Solution
In addition to tax filing services, TaxBandits offers a comprehensive solution for business and tax professionals to meet their FinCEN Beneficial Ownership Information (BOI) reporting requirements.
Through TaxBandits, clients can easily prepare and submit various BOI reports, including Initial, Corrected, Updated, and Newly Exempt Entity reports. Additionally, clients who file their BOI reports through TaxBandits can make free corrections or updates within one week of the original submission date.
API Solution
TaxBandits provides another advantage for high-volume filers and software providers. TaxBandits API enables seamless preparation and e-filing of 1099, W-2, 941, 940, and ACA 1095 forms and BOI reporting. Use the developer filing 1099 API to request W-9 and automate the filing efficiently.
About SPAN Enterprises
Headquartered in Rock Hill, South Carolina, SPAN Enterprises has created cutting-edge software solutions for e-filing and business management for over ten years.
SPAN Enterprises' suite of products includes TaxBandits, Tax990, ACAwise, ExpressExtension, 123PayStubs, and TruckLogics.
For media inquiries, please contact:
Stephanie Glanville
Marketing Manager
SPAN Enterprises
[email protected]
SOURCE: TaxBandits