IRS Form 941-X (Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund) is used by employers to correct errors or claim refunds for the previously filed Form 941. You must file a separate 941-X for each tax period for which there was an error.

Get detailed information about Form 941-X.

There is no specific deadline for filing Form 941-X. However, a time frame is applicable to report overreported and unreported taxes.

• Overreported taxes: Generally, overreported taxes are filed within 3 years of filing Form 941 or 2 years from the date you paid the tax reported on Form 941, whichever is later.
• Underreported taxes: It must be filed within 3 years of filing the original Form 941.

The IRS calls each of these time frames a “period of limitations.” For the period of limitations, Form 941 for a calendar year is considered filed on April 15 of the succeeding year, even if they were filed before that date.

According to the latest revisions from the IRS, Form 941-X can be electronically filed for the 2024 tax year.

TaxBandits helps you to file your Form 941-X electronically, making the correction process easier and more convenient.

Generally, correction of an underreported tax amount will not subject you to an FTP penalty, an FTD penalty, or interest if you follow these guidelines:

• File on time (by the due date of Form 941 for the quarter in which you discover the error),
• Pay the amount shown on line 27 at the time you file Form 941-X
• Enter the date you discovered the error, and
• If you have explained your corrections in detail

However, you will be penalized if any of the following apply.

• If the underreported amounts were related to an issue that was raised in an examination of a prior period.
• If You knowingly underreported your employment tax liability.
• If You received a notice and demand for payment.
• If You received a notice of determination under section 7436.