Most employers must report employees' wages paid and taxes withheld plus their own share of certain payroll taxes quarterly to the IRS. Additionally, employers must report each employee's wages and taxes annually, on Form W-2, to the Social Security Administration. Employers use Form 941, Employer's Quarterly Federal Tax Return, to report income taxes, Social Security tax or Medicare tax withheld from employees' paychecks and to pay their portion of Social Security or Medicare tax.
As an employer, you normally have to file a quarterly Form 941 to report your employees' wages and withholding. Each quarter, if you pay wages subject to income tax withholding (including withholding on sick pay and supplemental unemployment benefits) or Social Security and Medicare taxes, you must file a Form 941, although there are some exceptions.
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