Form 941 is used to report income taxes, payroll taxes, Social Security, and Medicare taxes withheld from employee wages. Most employers who pay wages file Form 941.

Anyone who overpays must wait until after the following year's April deadline for annual tax returns to get their money back through a tax refund. Payroll taxes are generally defined as the ...

Many people who don't pay federal income tax do work and owe payroll taxes. A tax return lets the IRS know ... status Every taxpayer is entitled to an annual standard deduction — a portion ...

What the employee enters on the form will affect the amount of federal taxes withheld from their pay and ultimately, the amount of federal tax refund received or tax to be paid when filing their ...