Who needs Form 941-SS?
The USA has some unincorporated territories overseas that still follow U.S. law. These territories include American Samoa, Guam, the Commonwealth of the Northern Mariana Islands and the U.S. Virgin Islands. Therefore all tax documentation that is used on the mainland is valid for these territories as well. Form 941 - SS applies in this case. It is the Employer’s Quarterly Federal Tax Return created for employers who work and reside in the above territories.
What is Form 941-SS for?
The form is an analogue of Form 941 that serves to report social security and Medicare taxes for people employed in the USA. Form 941-SS serves the same purpose in unincorporated US territories. So the form tells the IRS the amount of money withheld in federal income tax and medicare taxes.
Is Form 941-SS accompanied by other forms?
Form 941-SS isn’t accompanied by other documents, but there are some forms that might be useful when completing it. Take a look at the list of these forms on the IRS website.
When is Form 941-SS due?
As the name implies, the form is due every quarter. The deadline falls on the last day of the month that follows the end of the quarter. Start filing the form in the quarter when the first wages were paid.
How do I fill out Form 941-SS?
Just as its analogue Form 941 -SS is broken into five parts and a payment voucher. There are many calculations on the form but not all the lines must be completed. It depends on the employer’s financial situation. The minimum information that must be provided is the business and trade name as well as the business’ contact information. Read the IRS’s instructions for the form to ensure that you enter the correct information.
Where do I send Form 941-SS?
Once you’re ready, check the address you must send the form to as it depends on whether you attach a payment voucher to the form. The IRS website has a complete list of addresses to submit forms to.