Using Form 941, the Employer’s Quarterly Tax Form, businesses with employees can report federal withholdings, giving them a better picture of their employees’ total income.
Form 941 is used to report federal withholdings on employees and pay the employer’s quarterly taxes. The form consists of two sections: Schedule A is used to calculate how much you owe in payroll taxes and other information about your company. Employers use schedule B to determine if they need a deposit of taxes or receive a refund.
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