Business owners and tax professionals should prepare for the Q1 2025 Form 941 filing deadline on April 30 with TaxBandits' streamlined filing solution.
ROCK HILL, SC / ACCESS Newswire / April 7, 2025 / March 31st marks the end of the first quarter. It's time for business owners and tax professionals to prepare the necessary information for Form 941 and file taxes ahead of the deadline on April 30.
Form 941 is used to report federal income, Social Security, and Medicare taxes withheld from employees' paychecks. Filing Form 941 early is critical for employers to ensure accurate submission and avoid costly penalties.
E-filing with TaxBandits provides a streamlined, compliant solution, making the process even simpler.
Must Know Updates Before Filing Form 941 Q1,2025
For the 2025 tax year, the IRS has released several updates that business owners and tax professionals should keep in mind before filing Form 941. Here are the key changes in Form 941 for 2025:
Wage Base Limit: The Social Security wage base limit has been increased from $168,600 to $176,100.
Threshold for household and election workers: Social Security and Medicare taxes now apply to any household workers paid $2,800 or more in 2025. Similarly, election workers who earn $2,400 or more in 2025 are also subject to these taxes.
TaxBandits: A Perfect Solution for Seamless 941 Filing
TaxBandits provides a range of time-saving features designed to streamline the 941 filing process for employers and tax professionals this tax season.
Copy Return: Filers can effortlessly transfer data from previously filed 941 returns to the current tax return, saving time and minimizing the risk of errors.
Zero Reporting: In cases where no taxes are to be filed or there are no employees to withhold taxes from, zero taxes can be reported with just a single click.
Supporting Forms: Additional forms such as 941 Schedule B, 8974, and 8453-EMP are available for 941 filing at no extra cost.
Instant Status Updates: Real-time updates on the status of 941 return filings are available through TaxBandits, ensuring constant awareness of filing progress.
Rejection Troubleshooting: If the IRS rejects any 941 due to errors, TaxBandits will assist filers in correcting errors and resubmitting the return at no extra charge.
941-X E-Filing: Errors on previously filed 941 forms can be corrected quickly and easily by e-filing Form 941-X through TaxBandits.
Integrated EFTPS Solution: Businesses with employees who file Form 941 must ensure taxes are deposited on or before the deadline to avoid substantial penalties. To remain compliant, TaxBandits provides an integrated EFTPS solution that ensures timely 941 tax payments.
Those required to file Form 941 are encouraged to e-file 941 with TaxBandits today.
About TaxBandits
The 1099 and W-2 experts! TaxBandits is a SOC 2 Certified, IRS-authorized e-file provider for 1099 Form, Form W2, Form 940, Form 941, 1095-B, 1095-C, and W-9, serving businesses, service providers, and tax professionals of every shape and size.
TaxBandits provides another advantage for high-volume filers and software providers. The TaxBandits API enables seamless preparation and e-filing for 1099, W-2, 941, 940, and ACA 1095 forms.
About SPAN Enterprises
Headquartered in Rock Hill, South Carolina, SPAN has been developing industry-leading software tools for e-filing and business management tools for over a decade.
The SPAN Enterprises Portfolio of products includes TaxBandits, ACAwise, ExpressExtension, 123PayStubs, TruckLogics, and WealthRabbit.
Please direct all media inquiries to Caleb Flachman, Marketing Manager, at caleb@spanenterprises.com.
SOURCE: TaxBandits
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