ROCK HILL, SC / ACCESSWIRE / June 20, 2023 / marks the end of the second quarter of the 2023 tax year. For the majority of businesses with paid employees, this means their quarterly deadline to file payroll Form 941 is right around the corner. The deadline to file Form 941 for the second quarter is July 31, 2023.
As a quick recap, Form 941 is a required form for employers to report the wages, tips, and compensation paid to their employees and the taxes withheld. This includes social security, Medicare, and federal income tax withholding.
Now Available with TaxBandits: Form 941, Q2
While the summer months are the off-season when it comes to IRS deadlines, business owners, tax professionals, and payroll providers can benefit from getting their filing out of the way. With TaxBandits, a leading IRS-authorized e-file provider of payroll and employment forms, filing Form 941 is a simple and streamlined process. The Form 941 2023 for the second quarter of 2023 is now available for e-filing with TaxBandits.
What’s New on Form 941 for Q2 2023
The good news is that there are no updates to Form 941 for the second quarter compared to Form 941 for the first quarter. There were a few updates to the 941 last quarter, here is a quick overview of them:
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The wage base limit for social security is $160,200 for the 2023 tax year.
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Employers that complete Form 8974, Qualified Small Business Payroll Tax Credit for Increasing Research Activities, can claim up to $500,000 due to the Inflation Reduction Act of 2022.
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Employers have the ability to claim the Employee Retention Tax Credit (ERC) for past quarters if they are eligible.
TaxBandits Streamlines 941 E-filing
TaxBandits offers advanced features to promote accurate and efficient 941 e-filing:
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Bulk Upload Templates for 941 data
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Form 941 Schedule B for semi-weekly depositors
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Schedule R for PEOs, CPEOs, and other 3504 agents
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Volume-based prepaid credits
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Built-in 941 Worksheets
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Automatic Tax Calculations
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Error checks using the IRS Business Rules
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Easy e-signature options (Online Signature PIN or Form 8453-EMP)
Create a free account at TaxBandits to e-file Form 941 for 2023.
When asked about these upcoming quarterly filings, Agie Sundaram, the CEO and Co-founder of SPAN Enterprises, the parent company of TaxBandits, responded by stating, “TaxBandits offers excellent features and customer support that streamline the e-filing process. With TaxBandits filing Form 941 is efficient and affordable whether you are filing for a single business or a high volume of clients.”
Create a free account with TaxBandits to e-file Form 941 for the second quarter of 2023.
About TaxBandits
The 1099 and W-2 experts! TaxBandits is a SOC 2 Certified, IRS-authorized e-file provider of 1099 Form, Form W2, 1095-B, 1095-C, 940, 941, and W-9, serving businesses, service providers, and tax professionals of every shape and size.
The TaxBandits API provides a comprehensive electronic filing solution to all service providers, enabling seamless processing of Forms 1099, W-2, 941, 940, and W-9. Visit https://developer.taxbandits.com/ to know more.
About SPAN Enterprises
Based in Rock Hill, South Carolina, SPAN Enterprises has been developing industry-leading software solutions for IRS e-filing and business management tools for over a decade.
The SPAN Enterprises portfolio of products includes TaxBandits, Tax990, ACAwise, ExpressExtension, 123PayStubs, and TruckLogics.
For any media inquiries, please reach out to Stephanie Glanville, Content Writer at [email protected].
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SOURCE: TaxBandits
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