941

We Can Help with Overdue Payroll Taxes

Employers are required to withhold payroll taxes from their employees' paychecks and pay this tax to the IRS on their employees' behalf. The most common types of Payroll taxes are 941 taxes and 940 taxes. When business owners are unable to or avoid paying these taxes, a payroll tax liability is created.

Two important types of returns taxed to the employers are the Employer's Quarterly federal tax return and employer's annual federal tax returns. These two taxes are also termed as 941 taxes and 944 taxes respectively. For the return filed under the form 941 if your tax liability of employer's tax is lesser than or equal to $2,500 then these taxes can be filed along with your returns. However if the amount is above $2,500 then you must file these taxes along with the 941 form periodically according to your deposit schedule which can be monthly or semi-weekly or other such terms.