A late Form 941 or Form 940

A late return has its own penalty, separate from a late deposit.

What happens if Form 941 or Form 940 is filed late?

A late return carries its own penalty, even when the deposits were on time (26 U.S.C. § 6651). Form 941 is due each quarter and Form 940 once a year.

The problem

Form 941 is due each quarter and Form 940 once a year. A return filed late carries a penalty of its own, even if the deposits were on time.

How StartEase manages it

• The compliance calendar lists the return due dates next to the deposits.
• Reports & forms gives the quarterly and yearly totals you need for each return.
• Each filing has a history, so you can see what was filed and when.
• Where a Managed payroll company signed IRS Form 8655 and chose it, StartEase files for it as its authorized agent. Otherwise the company files, using the totals from the reports.