When you own a business, the work never stops. The buck starts and stops with you, and you’re the one responsible for making sure every i is dotted and every t crossed. You’re also the one who’s responsible for filing your business’s quarterly tax return with the IRS (or, at least, responsible for delegating that task to someone).
And, wouldn’t you know it, with the ending of 2017’s first fiscal quarter in March, we’re coming up on the deadline to file your First Quarter 941 Form! This year, it’s May 1, 2017, since April 30 falls on a Sunday. That means you have just over a week left to get that paperwork filed!
But what if you decided not to file paperwork?
As we pointed out a couple of weeks ago, it’s possible to e-file your quarterly tax forms with the IRS, which would save you time and save the Earth a few trees. So that’s something to think about after Earth Day weekend.
Now, with your 1099s, you’ve got a different deadline for e-filing than for paper filing. Unfortunately, that’s not the case with the 941 Forms. Since these forms report quarterly information and those quarters – like time – keep marching on there isn’t much space in the calendar to have a paper filing and e-filing deadline for the 941 Forms.
Still, there are other benefits to e-filing Form 941 that paper filing just can’t offer. For one thing, e-filing is exponentially faster than paper filing. For another example, most programs that are IRS-authorized to file Form 941 also offer the option to pay your taxes for the quarter right there through an electronic funds transfer (EFT) or send a check later. And when you e-file with someone like our sister product, TaxBandits, your 941 Form will be sent through a series of error checks before you transmit to ensure everything was filled out correctly.
Time’s running out to get those 941 Forms filed for the first quarter of 2017 so if you haven’t decided how you’re going to be filing, might we suggest TaxBandits? Like ACAwise, it’s a faster, easier alternative to traditional IRS e-filing and, also like ACAwise, has some of the best online security in the business. If you’d like more information on getting started, give us a call and we’ll get you in touch with an TaxBandits team member right away. You can also call them directly at (704) 684-4751.