What IRS Form 941 (2015) Is For

Form 941 (2015) is the Employer's Quarterly Federal Tax Return used to report federal income taxes withheld from employees' paychecks, plus both the employer and employee portions of Social Security and Medicare taxes. All employers who pay wages subject to federal income tax withholding or Social Security and Medicare taxes must file Form 941 quarterly, covering three-month periods ending March 31, June 30, September 30, and December 31 (IRS Instructions for Form 941, Rev. January 2015).

When You'd Use Form 941 for 2015 (Late or Amended Filing)

Late filing typically occurs when employers receive IRS notices like CP218 demanding unfiled quarterly returns, discover missing quarters during business transitions, or realize filing obligations years later. You may need to file late 2015 returns if you received balance due notices, are preparing for business sale or closure, or discovered employment tax obligations that weren't previously addressed. For refund claims, note that you generally have three years from the original due date or two years from when tax was paid to file Form 941-X for overpayments, whichever is later (IRS Instructions for Form 941-X, April 2015). Given that 2015 returns were due in 2015-2016, any refund statute of limitations has likely expired unless specific exceptions apply.

Key Rules Specific to 2015

The 2015 tax year maintained the Social Security tax rate at 6.2% each for employer and employee (12.4% total) with a wage base limit of $118,500. Medicare tax remained at 1.45% each for employer and employee with no wage base limit. Importantly, 2015 continued the Additional Medicare Tax withholding requirement of 0.9% on wages exceeding $200,000 annually, with no employer match required. The $2,500 de minimis deposit rule applied for quarterly tax liabilities under that threshold. Social Security and Medicare taxes applied to household workers paid $1,900 or more and election workers paid $1,600 or more in cash compensation during 2015 (IRS Instructions for Form 941, Rev. January 2015).

Step-by-Step (High Level)

• Gather tax records: Obtain wage and income transcripts from IRS.gov or Form 4506-T, collect payroll records, and review any prior deposits made for 2015 quarters
  
  
• Complete the correct-year form: Use the official 2015 version of Form 941 (Rev. January 2015) available from IRS prior-year forms section, not current-year versions
  
  
• Calculate and report accurately: Enter total wages, federal income tax withheld, and Social Security/Medicare wages using 2015 rates and wage base limits
  
  
• Attach required schedules: Include Schedule B (Form 941) if you were a semiweekly depositor, and any supporting documentation for adjustments or corrections
  
  
• File and pay properly: Mail to correct IRS processing center based on your state, include payment if balance due, and keep copies of all submissions for your records
  
  

Common Mistakes and How to Avoid Them

• Using wrong tax year forms: Always use the 2015 version of Form 941 (Rev. January 2015), not current year forms, as tax rates and wage base limits differ
  
  
• Incorrect Social Security wage base: Stop Social Security tax calculations at $118,500 per employee for 2015, not current year limits
  
  
• Mismatching deposits to quarters: Ensure any deposits made are properly allocated to the correct quarter and don't double-count payments across periods
  
  
• Incomplete employee information: Report accurate employee counts for the specific pay periods (March 12, June 12, September 12, December 12) and verify all calculations
  
  
• Missing Additional Medicare Tax: Include 0.9% Additional Medicare Tax withholding on wages over $200,000 per employee, which has no employer match
  
  
• Filing without required schedules: Attach Schedule B for semiweekly depositors and ensure all supporting documentation accompanies your return
  
  

What Happens After You File

The IRS typically processes employment tax returns within 6-8 weeks of receipt, though older year returns may require additional review time. You'll receive acknowledgment of filing and any balance due or overpayment determination. If you owe money, payment options include full payment with the return, installment agreements using Form 9465, or online payment arrangements through IRS.gov if you qualify. The IRS may send correspondence requesting additional information or clarification, especially for returns filed significantly after the due date. For disputed assessments or penalties, you have appeal rights through the IRS Office of Appeals, and can request penalty abatement using Form 843 if you have reasonable cause for late filing (IRS Instructions for Form 941, Rev. January 2015).

FAQs

Can I still get a refund for overpaid 2015 employment taxes?

Generally no, as the three-year refund statute of limitations has expired. Refund claims must typically be filed within three years of the original return due date or two years from when tax was paid, whichever is later (IRS Statute of Limitations guidance).

What penalties apply to late 2015 Form 941 filing?

Failure-to-file penalties are typically 5% per month up to 25% of unpaid taxes, plus failure-to-pay penalties of 0.5% per month. Interest also accrues on both taxes and penalties from the original due date (IRS penalty guidelines).

Do I need transcripts before filing late 2015 returns?

Yes, obtain wage and income transcripts to verify what the IRS has on record for your business, including any prior deposits or filings. This helps ensure accurate reporting and prevents duplicate submissions (IRS transcript services).

Should I file Form 941 or 941-X for corrections?

File original Form 941 for unfiled quarters. Use Form 941-X only to correct errors on previously filed Form 941 returns. Never file both for the same quarter simultaneously (IRS Instructions for Form 941-X).

What if I discover I should have filed quarterly but filed annually?

You must file separate Form 941 returns for each quarter, even if you previously filed annual returns. Contact the IRS to clarify your filing obligations and avoid duplicate reporting (IRS employment tax guidance).

Do I need to amend state returns too?

State requirements vary independently of federal obligations. Contact your state tax agency to determine if amended state employment tax returns are needed based on your Form 941 corrections.

Can I e-file late 2015 Form 941 returns?

Electronic filing may not be available for returns this old. Check IRS.gov for current e-file availability or file paper returns using the IRS mailing addresses specified in the 2015 instructions (IRS e-file information).

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