The Internal Revenue Service has unveiled the redesign of the employment tax
return Form 941, Employer's Quarterly Federal Tax Return.
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payroll companies avoid common errors as well as reduce the burden associated
with completing and filing it.
The redesigned form features a new layout, revised instructions, simplified
deposit reporting and paid preparer identification, according to the agency.
The form is also scannable, which the IRS expects will reduce transcription
errors.
More than 23 million of these forms are filed annually by 6.6 million employers.
The Form 941 is used to report wages, tips and other compensation paid, as well
as Social Security, Medicare and income taxes collected.
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