Form 941-V Payment Voucher

Do you have a balance due to the IRS?

When filing Form 941, if you have a balance due to the IRS you are required to complete Form 941-V, which is your payment voucher. We help simplify this process by automatically generating your Form 941-V for you based on the information you provide while preparing your form.

How to use Form 941-V in TaxBandits?

• Step 1 : When you choose check or money order option in the IRS payment method, download the 941-V from the TaxBandits account.
• Step 2 : Enclose your check or money order made payable to "United States Treasury".
• Step 3 : Mail the 941-V to the IRS along with the Form 941.

Note: While sending Form 941-V make sure that you don’t send cash, Don’t staple Form 941-V or your payment to Form 941 (or to each other).

When should I use Form 941-V?

• You can only use payment voucher Form 941-V if your total taxes for the current or previous quarter are less than $2,500, you didn't incur a $100,000 next-day deposit obligation during the current tax quarter, and you're paying the amount you owe in full by the deadline.
• You can also use payment voucher 941-V if you are a monthly scheduled depositor making a payment following the Accuracy of Deposit Rule.
• Otherwise, in order to avoid 941 penalties, make your deposits via electronic funds transfer. Remember, don't use Form 941-V to make federal tax deposits.

Your autogenerated Form 941 in your TaxBandits account will list the step-by-step instructions, how to complete the Form 941-V and also how to make your payment with the necessary payment address.