Hi my name is Miranda Chuck a CPA IRS form 941 employers quarterly federal tax return is for reporting and depositing amounts that employers are withholding from their employees wages these withholdings represent federal taxes Medicare and Social Security as well as the employers share of Medicare and Social Security the form asks for certain information such as the amount of wages paid amount of tips as well as any adjustments to those numbers and it also requires that you report the amount of wages that were used for the different calculations there's of course the total wages paid but there's also a separate amount for wages used to calculate the Social Security and Medicare taxes for more information consult the instructions for form 941.
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