What You Need to Know about Tax Form 941 For 2018

Business owners reviewing their tax form 941 for 2018

There is always something to be learned from the first quarter to help you transition to the next quarter. April marks two important milestones for human resources and business owners: taxes and the start of the second quarter. Here is what you need to know about tax form 941 for 2018.

What You Need to Know about Tax Form 941 For 2018

What Is A Form 941?

Form 941 tax return, or the Employer’s Quarterly Federal Tax Return, is used to report employment taxes. If you own and operate a business with employees, you will likely need to file IRS Form 941 four times a year. You, the employer, are responsible for withholding federal income tax, social security tax, and Medicare tax from each employee’s paycheck. This form is also used to calculate the employer’s portion of social security and Medicare tax.

Who Needs To File Form 941?

Typically, all businesses that pay wages for employers are required to submit quarterly payroll tax forms and continue to do so even if the business has no employees during select quarters. 

Quarterly Tax Form Exceptions:

Seasonal employers, agricultural employees, and household staff are exempt from filing quarterly payroll tax forms.

What Will You Need To File Tax Form 941 For 2018?
To e-file, you will need business details such as your EIN (Employer Identification Number) and preferably an Online Signature PIN. You don’t necessarily need a PIN to file, however, it will make the process simpler. If you do not possess a PIN, you will need to complete and e-sign Form 8453-EMP.

You will also need the following information to file tax Form 941 for 2018:

  • Number of Employees
  • Total Paid Wages
  • IRS Tax Amount Withheld

Apply For a Form 94x Online Signature PIN

Business owners preparing to file their tax form 941 for 2018 following the first quarterYou are in luck! Our sister product, TaxBandits, cannot only file your 2018 Form 941, but you can also apply for your Form 94x Online Signature PIN for FREE.

Simply create or log in to your TaxBandits account and select the “Create New Form” option. Select the 94x Online Signature PIN Request option, and you will then be prompted to enter your employer details. If you are a previous user, you can conveniently select your current details from your address book. You will then arrive at the Request PIN screen where you will need to provide all the required information on your signing authority.


It can take up to 45 days to receive your PIN. If you have not already applied you will most likely need to file Form 8453-EMP with your quarterly tax forms. But no worries, TaxBandits has you covered, making your filing experience quick, easy, and secure.

Form 941 Late Filing Penalty

A failure to file on time results in a 5% penalty on the tax return for each month the return is late. This penalty will cap at 25%.

The IRS will also heavily penalize you for late payment or not paying the full amount owed. You will be charged 2 to 15% of the unpaid tax determined by the number of days it remains unpaid.

File First Quarter 941 Form For 2018 With Confidence

We understand that all of the payroll tax information can be confusing, especially under pressure. Our sister product, TaxBandits takes pride in being IRS-authorized to provide you with a safe, secure, and accurate e-filing process that will save you time and money.

While the deadline might seem far away it is always smart to be prepared. Start your filing process today!

File 2018 Form 941

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