When Is the 941 Due? Filing and Deposit Deadlines
Navigate IRS Form 941 requirements. Learn key dates for quarterly filings and payroll tax deposits to ensure employer compliance.
Form 941, Employer’s Quarterly Federal Tax Return, is a crucial document for businesses to report federal employment taxes. This includes income tax, Social Security tax, and Medicare tax withheld from employee wages. It also accounts for the employer’s share of Social Security and Medicare taxes, ensuring accurate reporting of these liabilities to the Internal Revenue Service (IRS).
Quarterly Filing Deadlines
Employers must file Form 941 on a quarterly basis, with specific deadlines for each period:
First quarter (January 1 – March 31): April 30
Second quarter (April 1 – June 30): July 31
Third quarter (July 1 – September 30): October 31
Fourth quarter (October 1 – December 31): January 31 of the following year
If a due date falls on a Saturday, Sunday, or legal holiday, the deadline shifts to the next business day. An extended deadline is available for employers who have made all their tax deposits on time, granting them an additional 10 calendar days to file.
Payroll Tax Deposit Due Dates
Employers are responsible for depositing payroll tax funds with the IRS, following a distinct schedule separate from filing Form 941. The deposit frequency, either monthly or semi-weekly, depends on the employer’s total tax liability during a “lookback period.” This lookback period typically covers the four quarters from July 1 two years prior to June 30 of the preceding year.
Employers are monthly depositors if their total tax liability during the lookback period was $50,000 or less. Monthly depositors must remit taxes by the 15th day of the following month for wages paid in the previous month. For example, taxes on wages paid in January are due by February 15.
Employers with a tax liability exceeding $50,000 during the lookback period, or those who trigger a $100,000 next-day deposit obligation, become semi-weekly depositors. Under the semi-weekly schedule, taxes for payments made on Wednesday, Thursday, or Friday are due by the following Wednesday. Taxes for payments made on Saturday, Sunday, Monday, or Tuesday are due by the following Friday.
If an employer accumulates $100,000 or more in taxes on any single day, those funds must be deposited by the next business day. This $100,000 next-day deposit rule automatically shifts a monthly depositor to a semi-weekly schedule for the remainder of the current calendar year and the entire following year.
Penalties for Missing Deadlines
Failing to meet these filing and deposit deadlines can result in significant penalties from the IRS. A failure-to-file penalty applies if Form 941 is not submitted by its due date. This penalty is calculated at 5% of the unpaid tax for each month or part of a month the return is late, with a maximum penalty of 25% of the unpaid taxes.
Separate failure-to-deposit penalties are assessed when payroll taxes are not remitted by their due dates. These penalties are tiered based on the delay: 2% for deposits 1 to 5 days late, 5% for deposits 6 to 15 days late, and 10% for deposits more than 15 days late. A 15% penalty can apply if taxes remain unpaid more than 10 days after the IRS issues a notice demanding payment. Additionally, interest may be charged on any underpayments, accruing from the original due date until the tax is fully paid.