What Tax Forms Do I Need to File for Quarterly Estimated Payments?
If you are an employer or small business and required to file quarterly returns, you do so using IRS form 941, Employer's Quarterly Federal Tax Return. This form accounts for the quarterly payments you make for taxes withheld from your employee's paychecks, to include federal income tax, Social Security and Medicare taxes. You must forward your employee's contributions as well as your own matching contributions. When you make your deposit, include a copy of IRS Form 8109--a nonprintable copy of which is available at the IRS website.
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Information Required
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You must file a Form 941 to report wages you've paid, tips your employees have received and federal income tax you have withheld. You must also report both your share and your employee's share of the Old-Age, Survivors and Disability Insurance (OASDI) and Medicare, or Hospital Insurance contributions and any adjustments to them for sick pay, tips and group term life. You must account for any advance earned income credit payments, and you must claim credit of paying premium assistance for COBRA health insurance continuation coverage.
Deadlines
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You must file Form 941s for the preceding calender quarters on April 30, July 31, October 31 and January 31. You must have the envelope postmarked by the due date and include your tax payment. If it arrives late because you sent it late or because you failed to include sufficient postage, the IRS considers it filed only when the IRS receives it.
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Form 8109
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When you applied for an Employer Identification Number (EIN) from the IRS, you should have received a stack of IRS Form 8109-B forms. When you are ready to pay your quarterly estimated taxes, fill out your Form 941 and Form 8109-B using a black or blue pen for the information section and a No. 2 pencil for the remainder of the form. You must include this form when you make a deposit into an authorized financial institution.
File Electronically
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You may find it easier and more convenient to file and pay your taxes electronically. You can do so by using the Electronic Federal Tax Payment System (EFTPS). To enroll in EFTPS, call the IRS at 800-555-4477, or visit the EFTPS website.
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