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    Purpose of Form 941

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    What is the purpose of Form 941? Why the IRS is stringent on the timely filing of Form 941? Please explain .

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    Employers who withhold income tax, social security tax, or Medicare tax on wages must file Form 941 quarterly. Seasonal employers are not required to file for quarters when they regularly have no tax liability because no wages were paid.

    If you sell or transfer your business, both you and ...

    Solution Summary

    The purpose of Form 941 in the IRS is given. The importance of the IRS stringent timely filing of form 941 is given.