How to E-File 944 Online for the 2023 Tax Year with TaxBandits?
What Information is Required to File Form 944 Online?
IRS Form 944 must be filed if your annual tax liabilities are $1000 or less.
- 1. Employer Details: Name, EIN, and Address
- 2. Wages paid
- 3. Tips reported to your employees
- 4. Federal income tax withheld
- 5. Social Security and Medicare taxes
- 6. Deposits made to the IRS
- 7. Tax liability (monthly/semiweekly depositor)
- 8. Signing authority information
- 9. Online Signature PIN or Form 8453-EMP
Start to file 944 online with TaxBandits and Get Instant Approval from the IRS.
Benefits of Filing Form 944 Online with TaxBandits
Form 945 A
TaxBandits support Form 945 A to report your federal tax liability if it is more than $2500, in Form 944.
94x Online Signature PIN
The IRS requires you to sign your form with an Online Signature PIN when filing your Form 944. Simply apply a FREE Online Signature PIN with TaxBandits.
Form 8453-EMP
If you don't have an Online Signature PIN, don't worry! You can always use Form 8453-EMP to e-sign your Form 944 through TaxBandits.
Prior-Year Tax Filing
TaxBandits support Form 944 filing for both the current and previous tax years. You can file for the prior years (2022 & 2021) without any additional pricing.
Exclusive PRO Features for Form 944 Filing with TaxBandits
Client Management
TaxBandits offers you a Client Portal for seamless, real-time communication with your clients. Eliminate the need for third-party channels, saving time and enhancing client security.
Staff Management
This feature makes it easy to manage your staff members, promoting efficient task assignments with an advanced system. This ensures seamless communication throughout the process.
Record Keeping
Our HIPAA-compliant server securely stores your Form copies for up to 7 years. You can always log in to your TaxBandits account and download or print copies of the form anytime.
Customized Reports
Create in-depth insights into your client filings and staff members through our automated reporting feature. Easily access valuable data and efficiently track the status of your filings.
Enjoy our Pro Features at no extra cost
Success Starts with TaxBandits!
Frequently Asked Questions about 944 Filing
What is IRS Form 944?
IRS Form 944 is an annual tax return statement used by certain small employers to report their federal employment taxes. It is designed for employers with relatively low annual tax liabilities, specifically those whose annual liability for Social Security, Medicare, and federal income taxes is $1,000 or less. Unlike Form 941, which is filed quarterly, Form 944 is filed annually.
Visit https://www.taxbandits.com/payroll-forms/what-is-form-944/ to learn more about Form 944.
Who should file 944?
Businesses that have an annual tax liability of less than $1,000 are the ones who should file Form 944. Instead of filing Form 941 annually with the IRS.
Employers looking to file Form 944 instead of Form 941, must be notified of the eligibility by the IRS with a written notice. The IRS will notify you that your business is required to File 944. In such cases, employers are required to File Form 944, instead of Filing Form 941.
What are the changes to Form 944 for the 2024 Tax year?
Social Security and Medicare Tax Rates:
The social security tax rate remains 6.2% each for the employer and employee, with a wage base limit of $168,600. The Medicare tax rate stays at 1.45% each for the employee and employer, with no wage base limit. These taxes apply to the wages of household workers paid $2,700 or more in cash wages and election workers paid $2,300 or more in cash or an equivalent form of compensation in 2024.
Increased Payroll Tax Credit for Small Businesses:
The Inflation Reduction Act of 2022 increases the election amount for qualified small businesses to claim up to $500,000 of the credit for increasing research activities as a payroll tax credit for tax years beginning after December 31, 2022.
COBRA Premium Assistance Credit:
The COBRA premium assistance credit lines have been reserved for future use on Form 944 due to the expiration of eligibility for most employers to claim the credit after the first quarter of 2022.
Discontinuation of Forms 941-SS and 941-PR:
Form 941-SS and Form 941-PR will no longer be available after the fourth quarter of 2023. Employers in U.S. territories not mandated to file Form 944 will file Form 941 or the new Form 941 (sp) if they prefer Spanish versions.
How to E-File 944 with TaxBandits?
E-filing Form 944 with TaxBandits is a straightforward and efficient process, ensuring a quick and hassle-free experience for users. TaxBandits offers an intuitive interface that allows you to complete your Form 944 filing in just a few minutes. What sets TaxBandits apart is its competitive pricing, with the lowest industry rate at $5.95 per form.
To further enhance your filing experience, TaxBandits provides various features. If you have multiple returns to submit, take advantage of the bulk upload feature for increased efficiency. This feature streamlines the process, saving you time and effort.
For users without an online signature PIN, TaxBandits accommodates electronic signatures using Form 8453-EMP. This flexibility ensures that users can meet signature requirements seamlessly, making the e-filing process accessible to a wider range of users.
Moreover, TaxBandits goes beyond just Form 944. The platform supports other related forms, including Form 8974 and 945-A. This comprehensive coverage allows users to address various tax filing needs within the same platform, providing a one-stop solution for all related forms.
When is the deadline to File 944 for the 2023 Tax Year?
The deadline to File Form 944 is January 31, 2024. However, if you made deposits on time in full payment of the taxes due for the year, you may file the return by February 10, 2024.
What are the penalties for not filing Form 944 on time?
Failure to file IRS Form 944 by the deadline will result in a 5% penalty on the tax owed for each month the return is late (this penalty caps at 25%). When you pay late or do not pay the full amount owed, you will be charged 2-15% of the unpaid tax determined by the number of days the amount remains unpaid. Learn More about Form 944 penalty.