E-File Form 941-X Online
for 2024
Easily correct errors made on previously filed Form 941 &
Schedule B with TaxBandits
Can 941-X be filed electronically
Beginning in 2024, the IRS allows electronic filing of Form 941-X as part of Modernized e-File (MeF).
However, only corrections for the 2024 tax year could be e-filed.
How to Efile 941-X
Follow the simple steps below to File 941 Electronically
- Step 1: Complete the required fields which include (EIN, the quarter you are filing for, and company name).
- Step 2: Enter the corrections for this quarter. If any line doesn’t apply, leave it blank.
- Step 3: Explain your corrections for the quarter on Line 43.
- Step 4: Review the information on 941-X.
-
Step 5: Submit your completed Form 941-X
to the IRS.
Why Choose TaxBandits to File 941-X Electronically
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from the IRS
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Authorize / Sign your
941-X Return
You can either authorize your return by E-Signing Form 8453-EMP or use an Online Signature PIN. You can request a FREE Online Signature PIN through TaxBandits.
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Frequently Asked Questions on Form 941-X Filing
What is Form 941-X?
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.
Criteria for Filing Form 941-X
Form 941-x can be filed for underreported and overreported taxes:
- Underreported taxes - reporting less income or revenue than was actually received. If you file 941-X for underreported taxes you must make tax payment when you file the form.
- Overreported taxes - reporting more income or revenue than was actually received. When reporting overreported taxes, you can claim either a refund or an abatement for your next return.
What information could be corrected on Form 941-X?
File 941-X to correct errors on previously filed Form 941. Use Form 941-X to correct the following information:
- Wages, tips, and other compensation
- Federal income tax withheld from wages, tips, and other compensation
- Taxable Social Security wages
- Taxable Social Security tips
- Taxable Medicare wages and tips
- Taxable wages and tips subject to Additional Medicare Tax withholding
- Deferred amount of the employer's share of Social Security tax
- Deferred amount of the employee share of Social Security tax
- Qualified small business payroll tax Credit for Increasing Research Activities
When is the deadline to File 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.
Example:
Let’s consider that you filed your 2023 fourth quarter Form 941 on January 27, 2024, and payments were timely made. The IRS treats the return as if it were filed on April 15, 2024. On January 27, 2027, you discovered that you overreported social security and Medicare wages on that form by $250. To correct the error, you must file Form 941-X by April 15, 2027, which is the end of the period of limitations for Form 941, and use the claim process."
- If filing Form 941-X to correct overreported taxes in the last 90 days of the period of limitations for overreported taxes, you must use the claim process. You can’t use the adjustment process.
- If you are correcting the underreported taxes, you must file another 941-X to correct them using the adjustment process.
Can 941-x be filed electronically?
According to the latest revisions from the IRS, Form 941-X can be electronically filed for the 2024 Tax year.
Are there any penalties and interest related to 941-X e-filing?
Generally, correction of an underreported tax amount will not be 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 was 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.
Helpful Resources to File 941-X Online
