What IRS Form 941 (2015) Is For
IRS Form 941 (2015) is the Employer’s Quarterly Federal Tax Return. It reports wages paid, taxes withheld, and both the employer's and employee's shares of Social Security and Medicare taxes. Employers are responsible for withholding and paying these taxes on behalf of their employees.
Form 941 applies to most businesses that pay wages subject to federal income tax, Social Security, and Medicare withholding. It’s used to calculate the correct amount of federal employment taxes each quarter and verify that deposits match reported liability.
Employers who file Form 941 must report:
- The total wages and tips paid to employees for each quarter covered by the return
- Federal income taxes that were withheld from employee paychecks during the reporting period
- Both the employee and employer portions of Social Security and Medicare taxes were withheld and owed
- Any adjustments, sick pay, or previously unreported tips that affect total taxable wages
Household employers, agricultural employers, or those who file annual Form 944 must review IRS instructions to determine which form applies to their specific employment situation.
For a detailed breakdown of filing requirements, eligibility rules, and step-by-step instructions for IRS Form 941 (2015): Late & Amended Filing Guide, see our comprehensive guide.
When You’d Use IRS Form 941 (2015)
You would use Form 941 (2015) to report quarterly payroll tax information for any quarter ending March 31, June 30, September 30, or December 31 of that year. Employers who failed to file or who need to correct 2015 information should use the 2015 version, not a current-year form.
Late filing is often necessary when:
- You missed filing one or more quarterly returns for 2015 and need to report wages and taxes withheld for those periods.
- You received an IRS CP218 notice informing you that a 2015 quarterly Form 941 return was not filed.
- You discovered an error or omission after the business closed or underwent an ownership change that affected prior filings.
- You made payroll tax deposits during 2015 but failed to report them correctly on the corresponding Form 941.
If a return was never filed, submit Form 941 for that quarter. If you need to correct a filed return, use Form 941-X to amend it. Refunds for 2015 overpayments are generally unavailable because the statute of limitations (three years from the original due date) has expired, unless there are notable exceptions.
Always check the correct due date and confirm that any refund or balance owing is correctly calculated. Failure to file or pay can result in penalties and interest that continue to accrue until payment is made.
Key Rules or Details for 2015
For 2015, employers were required to withhold 6.2% in Social Security tax on employee wages up to $118,500 and match that amount, resulting in a combined 12.4% rate. Medicare tax was 1.45% for both employers and employees, with no wage base limit. An additional 0.9% Medicare tax applied to employee wages exceeding $200,000, which the employer did not match.
Employers could pay their total quarterly liability with the return if it were under $2,500, as per the de minimis rule. Household workers were subject to Social Security and Medicare taxes if paid $1,900 or more, and election workers if paid $1,600 or more. Employers were responsible for calculating the correct amounts, staying within the wage base limit, and submitting all payments by the appropriate due dates.
For complete details on wage reporting, withholdings, and unemployment tax filings, see our guide to Payroll & Employment Tax Forms.
Step-by-Step (High Level)
Follow these general steps to complete and file IRS Form 941 for 2015:
- Gather payroll records, tax deposits, and wage information for each quarter.
- Obtain the 2015 version of Form 941 (Rev. January 2015) from the IRS’s prior-year forms section.
- Calculate total wages, Social Security, and Medicare taxes using 2015 limits.
- Include Schedule B (Form 941) if you were a semiweekly depositor.
- Verify all deposits were credited to the correct quarter.
- Mail the completed form to the correct IRS address for your business location.
- Keep copies and proof of mailing for your records.
Ensure that all figures are accurate, payments are correctly applied, and each employee’s Social Security and Medicare wages match W-2 and wage and tax statement totals.
Common Mistakes and How to Avoid Them
- Using the wrong form year or tax rates: Always use the 2015 version of Form 941 and confirm that all tax rates and wage limits match that year’s IRS requirements — for additional guidance on common business tax problems.
- Failing to withhold Additional Medicare Tax: Withhold the 0.9% Additional Medicare Tax on employee wages exceeding $200,000, regardless of the employee’s filing status.
- Exceeding the Social Security wage base: Stop withholding Social Security tax once an employee’s wages reach the 2015 limit of $118,500.
- Omitting Schedule B when required: Semiweekly depositors must attach Schedule B to report their tax liability accurately by the deposit date.
- Submitting incomplete employee or pay period data: Verify that every employee’s details and all pay periods are correctly reported before filing.
- Applying deposits to the wrong quarter: Double-check that all payroll tax deposits are applied to the correct quarter to avoid mismatched records.
- Ignoring IRS notices: Respond promptly to any IRS correspondence about missing filings or underpayments to prevent penalties and interest.
To avoid penalties, confirm that payments match reported liabilities and that the correct-year version of the form is used. Always calculate the correct amount of Social Security, Medicare, and income tax withheld.
What Happens After You File
The IRS generally processes Form 941 within six to eight weeks, though older returns may take longer. If taxes are owed, payment should accompany the form or be made through the Electronic Federal Tax Payment System to avoid additional interest and penalties. Employers unable to pay in full can request an installment agreement using Form 9465 or seek penalty relief through Form 843. Keep all IRS correspondence and proof of filing for your records in case of future review or appeal.
Frequently Asked Questions
What is IRS Form 941 (2015) used for?
Employers use IRS Form 941 (2015) to report wages, federal income tax withheld, and both the employer and employee portions of Social Security and Medicare taxes. It ensures that the correct amount of employment taxes is paid.
How does the Additional Medicare Tax apply to 2015 wages?
The Additional Medicare Tax applies to wages exceeding the threshold amount of $200,000 for individual employees. Employers were responsible for withholding additional Medicare tax, but were not required to remit the amount withheld.
Can self-employment income replace Form 941 filing?
No. Self-employment income is reported on an individual income tax return using Schedule SE, not Form 941. Only employers with covered wages and employees must file IRS Form 941 for payroll and tax withholding purposes.
What is the difference between Social Security and Medicare taxes?
Social Security tax funds retirement benefits, while Medicare tax supports healthcare coverage for eligible workers. Both taxes are withheld from employee wages, matched by the employer, and subject to annual wage base limits and thresholds.
How do I correct wages or taxes withheld on a 2015 return?
If wages or taxes were misreported, file Form 941-X to correct the information. Always calculate the correct amount based on the 2015 wage base limit and applicable Medicare wages before submission to the IRS.
For more resources on filing or understanding prior-year IRS forms, visit our Form Summaries and Guides Library.
