Form 941 V PDF Details

Understanding the Form 941-V, Payment Voucher, is essential for employers who are handling their payroll taxes. This specific form serves a critical role—it ensures that payments made with Form 941 are accurately and promptly credited, thus enhancing the service provided to taxpayers. The necessity to use Form 941-V arises in two main contexts: firstly, when the total taxes for the current or preceding quarter are less than $2,500, without having triggered a $100,000 next-day deposit obligation, and the payment is made in full with a timely filed return; secondly, it applies to monthly schedule depositors adhering to the Accuracy of Deposits Rule, potentially involving payments of $2,500 or more. Importantly, Form 941-V should not be employed for making federal tax deposits, as its purpose is streamlined to accompany payments made specifically with Form 941. It's also critical for employers to accurately fill in their Employer Identification Number (EIN), payment amount, tax period, and their name and address as stipulated on Form 941, ensuring the payment is directed correctly to the “United States Treasury.” This system underlines a commitment to detail and precision in tax administration, emphasizing the avoidance of penalties associated with incorrect deposits, and underscoring the significance of timely and accurately submitting payroll taxes—a foundational aspect of compliance for employers.

QuestionAnswer
Form NameForm 941 V
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other names941 v, 941 v 2021, 941 voucher 2021, 941 v payment voucher form

Form Preview Example

Form 941-V, Payment Voucher

Purpose of Form

Complete Form 941-V if you're making a payment with Form 941. We will use the completed voucher to credit your payment more promptly and accurately, and to improve our service to you.

Making Payments With Form 941

To avoid a penalty, make your payment with Form 941

only if:

Your total taxes for either the current quarter (Form 941, line 12) or the preceding quarter (Form 941, line 12 (line 10 if the preceding quarter was the fourth quarter of 2016)) are less than $2,500, you didn't incur a $100,000 next-day deposit obligation during the current quarter, and you're paying in full with a timely filed return; or

You are a monthly schedule depositor making a payment in accordance with the Accuracy of Deposits Rule. See section 11 of Pub. 15 for details. In this case, the amount of your payment may be $2,500 or more.

Otherwise, you must make deposits by electronic funds transfer. See section 11 of Pub. 15 for deposit instructions. Don't use Form 941-V to make federal tax deposits.

Use Form 941-V when making any payment with ! Form 941. However, if you pay an amount with

CAUTION Form 941 that should've been deposited, you may be subject to a penalty. See Deposit Penalties in section 11 of Pub. 15.

Specific Instructions

Box 1—Employer identification number (EIN). If you don't have an EIN, you may apply for one online by visiting the IRS website at www.irs.gov/ein. You may also apply for an EIN by faxing or mailing Form SS-4 to the IRS. If you haven't received your EIN by the due date of Form 941, write “Applied For” and the date you applied in this entry space.

Box 2—Amount paid. Enter the amount paid with Form 941.

Box 3—Tax period. Darken the circle identifying the quarter for which the payment is made. Darken only one circle.

Box 4—Name and address. Enter your name and address as shown on Form 941.

Enclose your check or money order made payable to “United States Treasury.” Be sure to enter your

EIN, “Form 941,” and the tax period (“1st Quarter 2017,” “2nd Quarter 2017,” “3rd Quarter 2017,” or “4th Quarter 2017”) on your check or money order. Don't send cash.

Don't staple Form 941-V or your payment to Form 941 (or to each other).

Detach Form 941-V and send it with your payment

and Form 941 to the address in the Instructions for Form 941.

Note: You must also complete the entity information above Part 1 on Form 941.

Detach Here and Mail With Your Payment and Form 941.

 

 

 

 

 

 

 

 

 

 

Form

941-V

 

 

 

 

 

Payment Voucher

 

 

OMB No. 1545-0029

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Department of the Treasury

 

 

 

Don't staple this voucher or your payment to Form 941.

 

 

2017

Internal Revenue Service

 

 

 

 

 

 

 

 

 

 

 

1 Enter your employer identification

 

2

 

 

Dollars

 

Cents

 

number (EIN).

 

 

 

 

 

Enter the amount of your payment.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Make your check or money order payable to “United States Treasury”

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3

Tax Period

 

 

 

 

4 Enter your business name (individual name if sole proprietor).

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1st

 

 

3rd

 

 

 

 

 

 

 

 

 

Quarter

 

 

 

 

Enter your address.

 

 

 

 

 

 

 

Quarter

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2nd

 

 

4th

 

 

 

 

 

 

 

 

Enter your city, state, and ZIP code or your city, foreign country name, foreign province/county, and foreign postal code.

 

Quarter

 

 

Quarter

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Form 941 (Rev. 1-2017)

Privacy Act and Paperwork Reduction Act Notice. We ask for the information on Form 941 to carry out the Internal Revenue laws of the United States. We need it to figure and collect the right amount of tax. Subtitle C, Employment Taxes, of the Internal Revenue Code imposes employment taxes on wages and provides for income tax withholding. Form 941 is used to determine the amount of taxes that you owe. Section 6011 requires you to provide the requested information if the tax is applicable to you. Section 6109 requires you to provide your identification number. If you fail to provide this information in a timely manner, or provide false or fraudulent information, you may be subject to penalties.

You're not required to provide the information requested on a form that is subject to the Paperwork Reduction Act unless the form displays a valid OMB control number. Books and records relating to a form or its instructions must be retained as long as their contents may become material in the administration of any Internal Revenue law.

Generally, tax returns and return information are confidential, as required by section 6103. However, section 6103 allows or requires the IRS to disclose or give the information shown on your tax return to others as described in the Code. For example, we may disclose your tax information to the Department of

Justice for civil and criminal litigation, and to cities, states, the District of Columbia, and U.S. commonwealths and possessions for use in administering their tax laws. We may also disclose this information to other countries under a tax treaty, to federal and state agencies to enforce federal nontax criminal laws, or to federal law enforcement and intelligence agencies to combat terrorism.

The time needed to complete and file Form 941 will vary depending on individual circumstances. The estimated average time is:

Recordkeeping . . . . . . . . . . 13 hr., 52 min.

Learning about the law or the form . . . . 47 min.

Preparing, copying, assembling, and

sending the form to the IRS . . . . . 1 hr., 3 min. If you have comments concerning the accuracy of

these time estimates or suggestions for making Form 941 simpler, we would be happy to hear from you. You can send us comments from www.irs.gov/formcomment. Or you can send your comments to Internal Revenue Service, Tax Forms and Publications Division, 1111 Constitution Ave. NW, IR-6526, Washington, DC 20224. Don't send Form 941 to this address. Instead, see Where Should You File? in the Instructions for Form 941.

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