What IRS Form 941 (2017) Is For

Form 941 is the Employer's Quarterly Federal Tax Return that businesses use to report federal income tax withheld from employees' paychecks, plus both the employer's and employee's portions of Social Security and Medicare taxes (IRS Instructions for Form 941, Rev. January 2017). Any employer who pays wages subject to federal income tax withholding or Social Security and Medicare taxes must file Form 941 quarterly, even if no wages were paid during a particular quarter, unless they qualify for specific exceptions like seasonal employers or have filed a final return.

When You'd Use Form 941 for 2017 (Late or Amended Filing)

You would file a late 2017 Form 941 if you failed to meet the original quarterly deadlines, which were April 30, July 31, October 31, and January 31 (for quarters ending March 31, June 30, September 30, and December 31, respectively). Common scenarios include receiving IRS notices for unfiled returns, discovering you owe additional employment taxes, or needing to establish a compliance history before requesting payment arrangements. For amended 2017 returns, you would use Form 941-X if you discovered errors after filing the original return, as corrections can be made within three years of the filing date or two years from when you paid the tax, whichever is later (Instructions for Form 941-X, Rev. April 2017).

Key Rules Specific to 2017

For tax year 2017, the Social Security tax rate remained 6.2% each for employer and employee (12.4% total) with a wage base limit of $127,200, while Medicare tax stayed at 1.45% each (2.9% total) with no wage base limit (IRS Publication 15, 2017). The Additional Medicare Tax of 0.9% applied to employee wages exceeding $200,000 annually, with no employer match required. Employers with total quarterly tax liability under $2,500 could pay with the return instead of making deposits, but those with $2,500 or more had to follow monthly or semi-weekly deposit schedules based on their lookback period tax liability.

Step-by-Step (High Level)

• Gather your records: Obtain wage transcripts and previous filings using Form 4506-T or the IRS online transcript system to verify what was previously reported
  
  
• Complete the correct form: Use the 2017 version of Form 941 and any required Schedule B if you were a semi-weekly depositor
  
  
• Attach supporting schedules: Include Schedule R if filing as an aggregate filer, or corrected schedules if amending previous returns
  
  
• Choose filing method: Mail to the appropriate IRS processing center based on your location, or use authorized e-file providers (electronic filing was available for 2017)
  
  
• Keep copies: Maintain copies of all filed returns and supporting documentation for at least four years after the due date or date filed, whichever is later
  
  

Common Mistakes and How to Avoid Them

• Using wrong tax rates or wage bases: Always verify you're using 2017-specific rates and the $127,200 Social Security wage base limit for that year
  
  
• Incorrect deposit timing: Remember that deposits were due according to your monthly or semi-weekly schedule, not when you filed the return—late deposits incur penalties of 2% to 15% depending on how late
  
  
• Missing Schedule B: Semi-weekly depositors must file Schedule B showing daily tax liabilities, and failure to include this can result in penalties
  
  
• Wrong employer identification number: Ensure your EIN exactly matches IRS records, as mismatches can delay processing and trigger penalty notices
  
  
• Inadequate record-keeping: Maintain detailed payroll records including employee tip reports, sick pay notifications, and third-party payer arrangements
  
  
• Overlooking adjustments: Include required adjustments for uncollected employee Social Security and Medicare taxes on tips when employees don't have sufficient wages to cover withholding
  
  

What Happens After You File

The IRS typically processes quarterly employment tax returns within 6-8 weeks, though late or amended returns may take longer due to additional review requirements. You'll receive notices if there are discrepancies between your filed returns and deposit records, or if penalties and interest are assessed for late filing or payment. If you owe additional taxes, you can request an installment agreement using Form 9465, with streamlined agreements available for balances under $50,000 (Form 9465, Rev. February 2017). If you disagree with IRS determinations, you have appeal rights and can request penalty abatement for reasonable cause using Form 843, though you cannot request penalty relief directly on Form 941 or 941-X.

FAQs

Can I still file my 2017 Form 941 returns now?

Yes, you can file late returns, but you'll face failure-to-file penalties of 5% per month (up to 25%) plus interest on any unpaid taxes from the original due dates.

How do I get copies of what I previously filed for 2017?

Request account transcripts using Form 4506-T, calling 1-800-908-9946, or accessing transcripts online through your IRS account—these show what the IRS has on file for your quarterly returns.

What's the penalty for late 2017 deposits if I file now?

Deposit penalties range from 2% (1-5 days late) to 15% (more than 15 days late), calculated on the unpaid deposit amount, separate from filing penalties (IRS Instructions for Form 941, Rev. January 2017).

Can I get refunds for overpaid 2017 employment taxes?

Generally no—the refund statute of limitations for 2017 employment taxes expired three years after the return due date (around April 2021 for most quarterly returns).

Should I also amend my state employment tax returns?

Check with your state tax agency, as most states have their own filing requirements and deadlines that may differ from federal rules, though many states accept federal corrections as starting points.

Do I need to file all four quarters if I missed multiple 2017 returns?

Yes, you must file separate Form 941 returns for each quarter you had tax liability, even if you paid no wages in some quarters.

How long will the IRS take to process my late 2017 returns?

Expect 8-12 weeks for paper returns, with possible delays if the returns require manual review or if there are discrepancies with previously filed information returns like Forms W-2.

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