Form 941
A)is filed each quarter to reconcile monthly tax payments with total tax liability for the quarter.
B)is used in preparing labor-related reports for government agencies.
C)is used for employee information and annual payroll reports.
D)is used to document compliance with applicable regulations.

Question

Quizplus · Accepted Answer

Form 941 is filed each quarter to reconcile monthly tax payments with the total tax liability for the quarter. It is used by employers to report income taxes, social security tax, and Medicare tax withheld from employee paychecks, as well as the employer's portion of social security and Medicare taxes.