You must report FICA and withheld income tax ( Form 941 ) every:

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Multiple Choice

You must report FICA and withheld income tax ( Form 941 ) every:

Explanation:
Form 941 is the employer’s quarterly federal tax return, used to report FICA (Social Security and Medicare) and the federal income tax withheld from employees, along with the employer’s share of FICA. Because these payroll taxes accumulate over a three-month period, the IRS requires the report four times a year. Typical due dates are at the end of the month following each calendar quarter: April 30 for the first quarter, July 31 for the second, October 31 for the third, and January 31 for the fourth (moving to the next business day if the date falls on a weekend or holiday). An exception exists for very small employers who may file annually using Form 944, but for most employers the reporting is quarterly.

Form 941 is the employer’s quarterly federal tax return, used to report FICA (Social Security and Medicare) and the federal income tax withheld from employees, along with the employer’s share of FICA. Because these payroll taxes accumulate over a three-month period, the IRS requires the report four times a year. Typical due dates are at the end of the month following each calendar quarter: April 30 for the first quarter, July 31 for the second, October 31 for the third, and January 31 for the fourth (moving to the next business day if the date falls on a weekend or holiday). An exception exists for very small employers who may file annually using Form 944, but for most employers the reporting is quarterly.

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