What is the Penalty for Failing to File Form 941?
147 views | Last modified 9/24/2020 1:34:10 PM EST

Applicable To
Form 941 Form 1099 / W-2 Form 2290

If you fail to file Form 941 by the deadline, the IRS will impose a penalty of 5% of the total tax amount for each month and it will increase up to 25%.

In addition to failing to file Form 941, if you did not pay the taxes you owe to the IRS, you will initially be charged 0.5% of the unpaid tax amount, and this fee keeps increasing each month the payment remains unpaid. The penalty will increase to 1% ten days following the IRS notice of intent to levy.
 

 

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