subject: 2010 Form 941- Payroll Software [print this page] Form 941 is due by the last day of the month that follows the end of the quarter. First quarter 2010 Form 941, which includes payroll periods from January, February and March, is due on April 30, 2010. Second quarter 2010 Form 941, which includes payroll periods from April, May and June, is due on July 31, 2010. Third quarter 2010 Form 941, which includes payroll periods from July, August and September, is due October 31, 2009. Fourth quarter 2010 Form 941, which includes payroll periods from October, September and December, is due on January 31, 2011.
2010 Form 941 is one payroll form that a business owner or an employer may need to prepare to be in compliance with government regulations. This payroll form is used by employers to report wages paid, tips employees have received, federal income tax withheld, both the employer and employee share of social security and Medicare taxes, the current quarter"s adjustments to social security and Medicare tax for fraction of cents, sick pay, tips group-term life insurance, advanced earned income tax credit (EIC) payments and credit for COBRA premium assistance payments.
Form 941 for 2009 included a new line for COBRA premium assistance payments. The credit for COBRA premium assistance payments has been extended. It now applies to premiums paid for employees terminated before March 1, 2010, and to premiums paid for 15 months. Also new for 2010 employers that would normally file Form 944 can notify the IRS if they want to file quarterly Form 941 instead of annual Form 944.
Payroll software automatically populates 2010 Form 941 with data accumulated from payroll information that has been entered. Employers print the completed 941 form and mail it with or without a payment to their assigned address. The correct mailing address can be found on the IRS website.
