The 941 form is a quarterly tax return that is completed by certain employers to report wages paid to employees and to calculate and pay employment taxes. Here's the content relevant for who should complete the 941 form in 2021:
1. Employers with Employees: Any employer who has employees working for them during the year is required to complete and file the 941 form. This includes businesses, organizations, and government entities that pay wages to employees.
2. Small Business Owners: Small business owners who have hired employees, even if it's just one employee, are generally required to file the 941 form for each quarter of the year. This helps in reporting relevant employment tax information.
3. Household Employers: If you employ household workers such as nannies, caretakers, or housekeepers and pay them over a certain threshold amount, you may be considered an employer and required to file the 941 form.
4. Non-Profit Organizations: Non-profit organizations that have employees are also required to file the 941 form. However, some non-profit organizations may be exempt from certain employment taxes.
5. Temporary Employers: Temporary employers who hire and pay temporary staff are responsible for completing and filing the 941 form for the wages paid to those employees during the respective quarter.
6. Agricultural Employers: Agricultural employers, which include farm operators, must file the 941 form if they pay wages to their employees that exceed a certain threshold or meet other criteria outlined by the IRS.
7. Seasonal Employers: Even if you are a seasonal employer, such as a business that hires employees only during specific seasons or periods, you may still need to file the 941 form if you meet the employment tax requirements.
It's important to note that there may be certain exceptions and nuances depending on the specific circumstances of your business or employment situation. Consulting with a tax professional or visiting the official IRS website can provide a more comprehensive understanding of the requirements for completing the 941 form in 2021.