To file Form 941 Employer Quarterly Federal Tax Return when you have no employee or paid $0 wages for quarter 3 you do the following:
Download Form 941 and its instructions from the IRS website.
Enter your business information.
Check quarter 3 in the box on the right side of the form.
For any line that is 0-dollar amount, leave is blank except Line 1, 2, and 12.
Print the form out.
Review and sign if you are one of the owners of the business.
Make a copy to keep for your business record.
Mail the Form 941 for quarter 3 via USPS certified mail to the address found in the IRS instructions for Form 941 in the column “Without Payment” that corresponds to the row your state is located on.
If you are required to file IRS Form 941 Employer Quarterly Federal Tax Return and you have no employee in 2024, or you are an employee of your own LLC taxed as an S corporation and you didn’t collect any salary, you still need to file form 941. It is a quarterly return filed at the end of every quarter.
In general, if you are required to file Form 941, you are expected to file it every quarter even if you don’t have payroll tax to report. However, IRS has some exceptions. One exception is for seasonal employers.
If you are a seasonal employer and hire employees some part of the year only, you could check box 18 on Form 941 every quarter you file Form 941 to let the IRS know you are not going to file that form for quarters you don’t have employees. You still check the type of quarter the form you filed was for, on page 1 of form 941. IRS Instructions for 2024 Form 941 page 4 for more detail.
Where to find Form 941?
On the IRS website, search Form 941 from their search bar.
www.irs.gov
Download Form 941 and IRS Instructions for Form 941.
On the IRS website, search Form 941 from their search bar.
You can also access the links to both form from our website “Federal Tax Forms and Instructions Links” or here:
How do I fill out 941 if no wages were paid in 2024 Q3?
For any line that is 0, leave is blank except Line 1, 2, and 12. IRS Instructions for Form 941 page 7.
Form 941 Business information.
EIN: Enter your business EIN number.
Name: Enter your business legal name as entered on your EIN application form or on Form SS-4 Application for Employer Identification Number.
Trade name: If you have a DBA (Doing Business As) name enter if here otherwise, leave it blank.
Address: Enter your business address.
Which quarter of 2024 are you filling for?
In the right table next to your business information, check the quarter your Form 941 is for. In this example that will be Q3. You check the box next to 3: July, August, and September.
If you are a seasonal employer, you need to check the quarter you are filling for and you check box 18 as well to let IRS know you will not file form 941 every quarter.
Form 941 Part 1
Line 1 Number of employees who received wages: enter 0 as you have no employees, or your business paid $0 in salary for that quarter.
Line 2: Total Wages paid: It is the total gross payroll for the quarter. Enter 0.
Line 3 Federal income tax withheld: leave it blank.
Line 4 If no wages are subject to social security tax and Medicaid tax: check box 4 and go to line 6. You check that box and skip line 5s to go to line 6.
Line 6 total taxes before adjustments: leave it blank.
Line 7 quarterly adjustments for fractions of cents: leave it blank.
Line 8 quarterly adjustment for sick pay: leave it blank.
Line 9 quarterly adjustments for tips and insurance: leave it blank.
Line 10 Total taxes after adjustments: leave it blank.
Line 11: leave it blank if $0.
Line 12 Total taxes after adjustments and nonrefundable credits: if it is $0, enter 0.
Line 13: Total deposits for this quarter or any overpayment you want to use: If you didn’t make any payroll tax deposit for that quarter, leave it blank.
Line 14: Leave it blank as that will be $0 since your line 12 payroll tax is $0 and your line 13 is blank.
Line 15 overpayment: Leave it blank if your line 13 is blank and your line 12 is $0.
Having Line 14 blank and line 15 Blank means you didn’t owe tax and you didn’t overpay either.
Form 941 Part 2 Page 2 Your deposit schedule.
Name and EIN: enter your business legal name and EIN on the top of Form 941 page 2.
Line 16: Line 12 total tax is $0 therefore, it is less than $2,500, check the 1st box and go to Line 17.
Form 941 Part 3
Line 17: If your business is not closed, leave that line blank.
Line 18: If your business is not a seasonal employer, leave it blank.
Form 941 Part 4
You can check “No” if you want IRS to contact you in case they have a question.
Form 941 Part 5
Who must sign Form 941?
If you are the sole proprietor, you the owner of the business will sign.
If the business is LLC taxed as an S corporation, the president, vice president, or any officer can sign.
If your business is an LLC that files Form 1065 partnership tax return, any member of the business that is acknowledgeable of the business activities can sign.
You read more in the IRS instructions form 941 for 2024 page 15.
Type your name and your title.
After you print Form 941, you sign and date. Then you make a copy of the return for your business record.
Paid preparers use only.
Leave the paid preparer use only section blank if you are filling form 941 for your own business.
Form 941-V Payment voucher.
If you have no employee or didn’t pay any wages, and your Form 941 line 12 is $0, do not complete form 941-V.
Review your return and print it out. Sign and date.
Make a copy of the tax return for your business record.
Where to mail Form 941 for 2024?
On the IRS instructions for form 941 for 2024 page 7, locate your state in the address table.
The address in the column “without payment” that corresponds to the row your state is, is the address to mail your Form 941 for 2024.
Mail your return via USPS certified mail and keep the receipt and tracking number receipt with your business copy of the tax return.
When is Form 941 due?
The 1st quarter Form 941 is due by April 30 and includes January, February, and March payroll tax reports.
The 2nd quarter Form 941 is due by July 31 and includes April, May, and June payroll tax reports.
The 3rd quarter Form 941 is due by October 31 and includes July, August, and September payroll tax reports.
The 4th quarter Form 941 is due by January 31 and includes October, November, and December payroll tax reports.
Track your payroll.
Conclusion: How do I fill out 941 if no wages were paid in 2024 Q3?
The video explains step by step how to fill out Form 941 for the 3rd quarter of 2024.
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