How QuickBooks Populates the Tax Form 941?


Tax form 941 is used by the employer to report income tax, Medicare tax, and social security tax withheld from employees’ wages. In this article, we will look into how QuickBooks populates tax form 941. Some of the information that is required to be filled in Form 941 is as follows, the list is not exhaustive:

  • Company information, trade name.
  • The number of employees paid.
  • Wage tips and other compensation
  • Federal income tax withheld from wages, tips, and other compensation.
  • Taxable social security wages including Qualified sick leave and family leave wages, taxable social security tips, Medicare wages and tips, and Medicare wages and tips subject to Additional Medicare tax withholding.
  • Current Quarter adjustments for sick pay, tips, and group life insurance, fraction of cents.
  • Non-refundable credits, etc.

Tax Form 941 Populated by QuickBooks

  1. You need to select Employees > Payroll forms & W-2 > Process payroll forms.
  2. Now you need to choose from 941/ schedule B and select create form.
  3. Now choose the Quarter or year from the drop-down and choose the Quarter end date and click on OK.
  4. Now you need to complete the interview form and click on Next, review the information displayed on the form. Add or change something if required.
  5. Click on ‘check for errors to identify and fix any form errors’ and click on Save and Close. After that, you can click on Print for your records to print the form anytime.

Hopefully, the article will be able to help you out in understanding how Form 941 is created and populated in QuickBooks, what main fields are there in form 941. However, in case you are not satisfied or have any additional questions, do reach out to our helpdesk via LIVE CHAT.

Also, learn to Enter Outsourced Payroll in QuickBooks


How can I edit form 941 in QuickBooks Online?

Click on the Pay liabilities tab > change the payment method under other activities > choose the tax liability you want to edit under schedule payment > click on edit > enter the appropriate information, choose finish after completing the things.

Can I file form 941 through QuickBooks?

Yes, you can e-file form 941 through QuickBooks using QuickBooks online payroll enhanced account activated for federal e-services.

What is the frequency of filing tax form 941 by the employer?

The employer needs to file a separate Form 941 in each quarter of the reporting year.

I am late in filing form 941, is there any penalty by the IRS?

The IRS imposes a penalty of 5% per month or partial month for which you are late. The penalty is up to a maximum of 25%.

Is there any new form 941 for 2020?

Yes, it is covid19 related tax relief form, it will be used by the employers to report employment taxes from Q3 2020.

Are Qualified sick leaves wages subject to any exemption from social security tax?

No, Qualified sick wages are subject to withholding of federal income tax and employee’s share of social security and Medicare taxes.


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Steve Hale is a Content expert and Executive Editor with over 15 years of experience who writes original blogs on Bookkeeping. Hale writes optimized content for a range of clients about SEO, Bookkeeping, Quickbooks & Accounting. He was formerly the managing editor who used to oversee all aspects of the publication.

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