Last Minute IRS Form 941 Filing For Nonprofits

The big IRS Form 941 2018 1st Quarter filing deadline is officially here! If your tax-exempt organizations employ individuals to help carry out the mission of your group, you need to file Form 941 for 2018 by midnight TONIGHT or face major IRS penalties.

If you do not file Form 941 by April 30, 2018, your organization could find itself responsible for paying Form 941 Penalties to the IRS. Avoid IRS penalties by e-filing Form 941 with ExpressTaxExempt’s sister product, TaxBandits.

If you are not ready to file your 941 Form 2018, try not to panic... yet. TaxBandits has a tax filing solution that will not require an all-nighter leaving you looking crazy in the morning.

Time is winding up so let’s tackle last-minute IRS Form 941 filing for nonprofits together!

Last Minute IRS Form 941 Filing For Nonprofits

The 411 on IRS Form 941

Kind of rhymes, right? Well before we start creating a 941 Form 2018 jingle or talk about how to handle filing Form 941 for 2018, let’s review who is required to file and what it entails.

IRS Form 941, Employer’s Quarterly Tax Return, is used to report employment taxes quarterly and assists with calculating the employer’s portion of Social Security and Medicare tax.

The first quarter deadline for this year is April 30 and covers the months of January, February, and March.

E-Filing Checklist

When preparing to file, be sure to go over the Form 941 for 2018 checklist, as the following information is required to complete it:

• Total Employee Count
• Medicare Tax and Social Security
• Deposit Made to the IRS
• Tax Liability (Monthly/Semiweekly)
• Signing Authority Information
• Online Signature PIN or Form 8453-EMP

Steps To E-File Form 941 for 2018

Filing IRS Form 941 2018 with TaxBandits is simple! Just follow these steps to complete your quarterly filing:

1. Sign in or Create your TaxBandits account
2. Select “Form 941”
3. Add employer details
4. Choose tax year/quarter
5. Follow Interview-Style Process
6. Enter the deposit made to the IRS
7. Enter your deposit schedule and tax liability
8. Add your online signature PIN or complete Form 8453-EMP
9. Review, pay and transmit your form directly to the IRS

Signing Form 941 Online

When you file Form 941 online you are required to electronically sign your form before transmitting to the IRS. There are two ways you can do this with TaxBandits. You can use your IRS online signature PIN or use Form 8453-EMP. 

To use Form 8453-EMP simply download it, fill it out, and re-upload it to the system. The entire process only takes about a minute.

Failure-To-File Penalties

Failing to file Form 941 by its deadline can affect an organization negatively. For example, if you fail to file your 941 Form by midnight, your organization will incur a penalty of 5% of the total tax amount due. An additional charge of 5% per month will also be charged for each month that the return is not submitted to the IRS. This fee can accumulate for up to 5 months.

Furthermore, if you failed to pay an owed tax bill, you will initially be charged an additional 5% of the unpaid tax amount. This fee will also increase each month that the payment remains unpaid.

ExpressTaxExempt understands what it takes to run a nonprofit organization and wants to help make handling tax filings one component that you don’t have to be stressed over.

Filing Form 941 with our sister product TaxBandits is easy! Plus, if you need any assistance, our US-based support team is standing by ready to help you.

File IRS Form 941 2018 Before Midnight!

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What Nonprofits Need To Know About the Form 941 Deadline

Does your tax-exempt organization employ certain individuals to help carry out the mission of your group? If so, as an employer you are required to file Form 941 with the IRS quarterly.

ExpressTaxExempt is here to help your organization grow and flourish so we have gathered some important information regarding what nonprofit organizations need to know about the Form 941 deadline:

What is Form 941 & When is it Due? 

Also known as the Employer’s Quarterly Tax Return, Form 941 is used to report employment taxes quarterly and assists with calculating the employer’s portion of Social Security and Medicare tax.

The first quarter deadline for this year is April 30 and covers the months of January, February, and March.

If you do not file Form 941 by April 30, 2018, your organization could find itself responsible for paying Form 941 Penalties to the IRS. Avoid IRS penalties by e-filing Form 941 with ExpressTaxExempt’s sister product, TaxBandits.

E-File Form 941 Before The Deadline

While most people believe that filing taxes is a headache and takes all day and night to complete, our sister product TaxBandits eliminates that. Filing Form 941 with TaxBandits only requires two major pieces of information: Employer and Employment Details.

Employer Details

• Name of Employer
• Employer Identification Number (EIN)
• Address

Employment Details

• Employee Count
• Medicare Tax & Social Security
• Deposit Made to the IRS
• Tax Liability (Monthly/Semiweekly)
• Signing Authority Information
• Online Signature PIN or Form 8453-EMP

Once you have submitted this information, all that is left to do is review the completed form, pay a small, affordable price per form, and transmit directly to the IRS. Just like that, you have avoided IRS penalties form 941 and compliance issues! 

File With TaxBandits and Stay Tax Compliant with the IRS

There are many components to running your organization and we want to help make handling tax filings one component that you don’t have to be stressed over. 

TaxBandits, a sister product to ExpressTaxExempt, is an industry leader for online tax preparation and tax filings which offers accurate and efficient e-filing at prices that can’t be beaten! Visit their website today to find out more information about Form 941 and the other services that TaxBandits offer.

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New Product Perfect for Exempt Organizations Officially Launches

There’s a new product on the block that your organization can benefit from greatly!

Today our parent company SPAN Enterprises officially launched its latest product, TaxBandits. 

TaxBandits is the ultimate e-filing solution for small businesses and nonprofit organizations. Offering the most simplified and streamlined, interview-style e-filing process, TaxBandits helps to keep you moving in the right direction. 

Helping you and your organization achieve greatness, TaxBandits provides necessary IRS forms at your fingertips. 

The following tax forms can be filed on one website to accommodate the needs of all of our clients:

Form 990 Series: Form 990-N, Form 990-EZ, Form 990, Form 990-PF, Form 1120-POL, and Form 8868.

Form 94x Series: Form 941, Form 941-PR, Form 941-SS, and Form 941 Schedule R

Form 1099 Series: Form 1099-MISC, Form 1099-INT, Form 1099-DIV, Form 1099-R, Form 1099-S, Form 1099-B, Form 8809, and Form 1099-Correction

W-2 Forms: Form W-2 and Form W-2c

ACA Forms: Form 1095-B, 1095-C, 1094-B, and 1094-C

Extensions: Form 8809 and Form 8868

Exempt Organizations & TaxBandits

Tax exempt organizations will benefit greatly from the convenience of TaxBandits. Whether you have to handle annual Form 990 filing for your organization or need to submit Form 1099 or Form W-2 information for its employees, the comprehensive TaxBandits software covers it all! 

The TaxBandits Experience

TaxBandits believes that while taxes can be complicated, solid research paired with great customer service, along with accurate and efficient software, your tax filing experience will be much easier.

Our U.S.-based customer support team assures that we will answer your call faster than the IRS. TaxBandits constantly strives to lead its clients as a compassionate resource, guiding you through complicated tax matters and making the e-filing experience as accurate and efficient as possible.

E-file My 2018 Employment Tax Forms

TaxBandits For You! Quick & Easy Online Tax Preparation

Contact Us

Feel free to contact us with any questions that you may have. Phone support is available Monday through Friday, 9:00 a.m. to 6:00 p.m. EST at (704) 684-4751. Reach us 24/7 via email support at support@TaxBandits.com or by Live Chat and we will give a speedy response.

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Mystery Solved: Exempt Organization Employment & Form 941

When you first think of a nonprofit organization or charity, you initially think that everyone participating is volunteering their time and not on payroll. However, in order to effectively carry out of the work of your organization, it is necessary (at times) to employ individuals to serve as yearly staff. 

Although these employed individuals work for a tax exempt organization, they are not excluded from having taxes withheld from their earnings. Employment taxes are reported to the IRS through Form 941, Employer’s Quarterly Federal Tax Return.

Organizations, charities, and small business owners who prepare payroll checks for the employment of staff are expected to file this form quarterly (four times a year); even if the business does not have employees during select quarters. 

The next quarterly deadline for filing this form is Tuesday, October 31. 

However, exceptions are made for seasonal employees, whose taxes are not required to be filed each quarter.

NOTE: If you have decided to close your business/organization or stop paying wages that would subject you to payroll taxes, your obligation to file quarterly returns can end. This can be done by designating the return for the last quarter that you pay taxable wages as a “final” return at the top of the return.

Information Needed to File

In order to file Form 941, you must report three major things:

1. Number of Employees
2. Total Wages Paid
3. Amount Withheld [to calculate the tax payments owed] 

Payroll records along with any documents supplied by employees with taxable tips will be needed as well. For more information on Social security and Medicare tax, click here.

Filing Form 941

To complete the Form 941 filing process, you must have details about your business readily available, such as your company’s EIN and online signature PIN (preferred). 

To obtain a PIN for your business or organization for FREE, click here. Once you have received your PIN, you can easily complete the simplified filing process. 

HINT: Form 941 can be e-signed through Form 8453-EMP.

We're Here To Help

Calculating and filing your payroll tax information can be stressful and confusing. For that reason, our sister product, ExpressTaxFilings, was created to assist small business owners and exempt organizations with an easy-to-use filing process for annual and quarterly payroll tax needs. ExpressTaxFilings takes pride in providing an accurate, efficient, and secure e-filing process that will save you both time and money. 

If you need any assistance during this straightforward and easy filing process, have no fear! We’re here to help. If you need any assistance give the dedicated, US-based ExpressTaxFilings support team a call anytime, just like you would with ExpressTaxExempt. Both teams are available Monday - Friday from 9 AM to 6 PM EST at 704.684.4751. They’re also available via live chat and offer 24/7 email support at support@ExpressTaxfilings.com.

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Upcoming Filing Deadline for Exempt Organization Employers

Has your organization employed individuals to help carry out the mission of the group?

Do you or someone you know own and operate a business with employees?

If so, as an employer, it is required that you file Form 941 with the IRS quarterly.

Employers are responsible for withholding federal income tax, social security tax, and Medicare tax from each of their employee’s salary. Form 941, also known as the Employer’s Quarterly Tax Return, is used to report these employment taxes quarterly and assists with calculating the employer’s portion of Social Security and Medicare tax.

Quarterly Filing Deadlines:

Form 941 has a total of four filing deadlines each year. These deadlines are split into first, second, third, and fourth quarters with the following due dates:

With only two days left in the month of September, the Third Quarter deadline is right around the corner. Be sure to file your Form 941 no later than October 31 with TaxBandits.

Filing Process:

Most people think that filing taxes can be a headache and an extremely time consuming process...not with our sister product, TaxBandits! You will only need two major pieces of information to get started--Employer and Employment Details.

GIF via GIPHY

Employer details include the employer’s name, EIN, and address; while employment details include the following:

• Employee Count
• Medicare Tax & Social Security
• Deposit Made to the IRS
• Tax Liability (Monthly/Semiweekly)
• Signing Authority Information
• Online Signature PIN or Form 8453-EMP

Once that is entered all you will need to do is review the completed form, pay a small, affordable price per form, and transmit directly to the IRS. And just like that, you’ve avoided IRS penalties and compliance issues.

Well, since we said the word ‘penalties’ let’s just go ahead and discuss it briefly so you know what you’re avoiding when filing with us.

Form 941 IRS Penalties:

Failure to file by the Form 941 deadline will result in a 5% penalty on the tax return for each month that the return is late. Although this penalty cpas at 25%, the IRS will penalize you heavily for late payment or not paying the full amount owed. Your organization will be charged 2-15% of the unpaid tax determined by the number of days it remains unpaid.

NOTE: Late deposit penalty amounts are determined using calendar days, starting from the due date of the liability.

Next Steps:

Out of the many components to running your organization, one of the most important is staying in compliance with the IRS. TaxBandits, sister product to ExpressTaxExempt, is an industry leader for online tax preparation and tax filings which offers accurate and efficient e-filing at prices that can’t be beaten! Visit their website today to find out more information about Form 941 and the other services that TaxBandits offer.

As always, we at ExpressTaxExempt aim to help all exempt organizations and hope that your organization can benefit from both of our services. If you need any assistance with filing, just know that we’re available to assist you via phone at 704.839.2321 on Monday through Friday from 9 a.m. to 6 p.m. EST or reach out to us 24/7 via email at support@ExpressTaxExempt.com.

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