941 V 2014-2025 Form

What is the 941 V?

The 941 V, also known as the Form 941 payment voucher, is a crucial document used by employers in the United States to report and pay federal payroll taxes. This form is specifically designed for making payments associated with the quarterly Form 941, which reports income taxes, Social Security tax, and Medicare tax withheld from employee wages. The 941 V serves as a voucher to accompany payments made to the IRS, ensuring that the payments are properly credited to the employer's account.

How to use the 941 V

Using the 941 V is straightforward. Employers should complete the form by entering their business information, including the employer identification number (EIN), the quarter for which the payment is being made, and the payment amount. The completed voucher should be submitted along with the payment to the appropriate IRS address. It is important to ensure that the payment is made by the due date to avoid penalties and interest. Employers can use the 941 V for both electronic and paper payments.

Steps to complete the 941 V

To complete the 941 V, follow these steps:

• Download the 941 V form from the IRS website or obtain a physical copy.
• Fill in your business name, address, and employer identification number (EIN).
• Indicate the quarter for which you are making the payment.
• Enter the total amount of payment being submitted.
• Review the information for accuracy before submitting.

Legal use of the 941 V

The 941 V is legally recognized as a valid method for employers to report and pay payroll taxes. Compliance with IRS regulations is essential to ensure that the form is accepted. Employers must adhere to the guidelines set forth by the IRS regarding the completion and submission of the 941 V. This includes ensuring that payments are made on time and that the information provided is accurate to avoid any legal repercussions.

Filing Deadlines / Important Dates

Employers must be aware of the filing deadlines for the 941 V to avoid penalties. The payment voucher is typically due on the same day as the quarterly Form 941, which is due one month after the end of each quarter. For example, the due dates for the 941 V are as follows:

• First quarter (January to March): Due by April 30
• Second quarter (April to June): Due by July 31
• Third quarter (July to September): Due by October 31
• Fourth quarter (October to December): Due by January 31 of the following year

Form Submission Methods (Online / Mail / In-Person)

The 941 V can be submitted through various methods. Employers have the option to make payments electronically via the IRS Electronic Federal Tax Payment System (EFTPS) or by mailing a check along with the completed voucher. When submitting by mail, it is important to send the voucher to the correct IRS address based on the state of the business. In-person submissions are generally not available for the 941 V, as payments are typically processed through electronic or mail methods.