Should You File Form 941 or Form 944?

If you are an employer, then you must file Form 941 or Form 944 during the tax year. However, you cannot randomly pick between these forms and file them. Depending on your circumstances, you will have to file just one of them unless otherwise requested by you.

If you are unsure about filing IRS forms and if you have a business, whether you have employees right now or not, this guide can be quite practical for you. Well, while both forms are used to report taxes, why are there two different forms? Keep reading to learn more about them!

What Are Form 941 and Form 944?

Form 941 and Form 944 are IRS forms that employers use to report their employees’ wages and payroll taxes

Form 941 is the Employer’s Quarterly Federal Tax Return, and you need to file this form four times a year to report the wages and taxes of your employees. On the other hand, Form 944 is Employer’s Annual Federal Tax Return, and you need to file it only once a year.

As you can see, the main difference between these forms is the frequency of filing them. While you need to file one of them four times, you only need to file the other one once a year. Besides these, you will be providing the exact same information on both forms.

Should You File Form 941 or Form 944?
Should You File Form 941 or Form 944? 1

What Are the Due Dates of Form 941 and Form 944?

Since you file these forms at different times, their due dates also vary depending on when you need to file them. The due dates for filing Form 941 are:

  • First Quarter – April 30
  • Second Quarter – July 31
  • Third Quarter – October 31
  • Fourth Quarter – January 31

On the other hand, Form 944 has just one due date, and it is January 31. These were the basics of Form 941 and Form 944, and we hope everything is clear in your mind now. For more information, you can always contact the IRS or hire tax professionals to let them handle all the processes on your behalf.

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