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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