Federal quarterly reporting

You can specify, extract, and report data for federal quarterly tax reporting.

Some employers must complete Form 941, the employer’s federal quarterly tax return.

• Employers who withhold income taxes, social security tax, or Medicare tax from employee’s paychecks must file this form on a quarterly basis to report tax liability. Employers who must pay the employer’s portion of social security or Medicare tax must also file this form on a quarterly basis.
• The employer must file this form by the last day of the month that follows the end of the quarter. The employer must ensure that deposits cover the tax liability.
• Many employers deposit on a quarterly basis.
• Employers that are required to make monthly deposits must report monthly tax liability on Form 941.
• Employers that are required to make semiweekly deposits must report daily tax liability. These employers must file a Schedule B Form 941 in addition to Form 941.

The template for automatically generating the federal quarterly tax return form 941 might need to be updated. If you receive an error message that the template does not match the current year or quarter, follow the steps in KB2179174 to update your system with the correct form.