ROCK HILL, SC / ACCESSWIRE / July 23, 2020 / This July 31, 2020 is the second quarter deadline for which every business with employees must complete and file their Form 941, Employer's Quarterly Federal Tax Return with the IRS. This form is crucial to maintaining IRS compliance and avoiding pricey fines and penalties. Business owners may find filing this form more difficult this quarter, as the Form 941 has been completely revised to meet the reporting requirements associated with COVID-19 tax relief. TaxBandits offers clients an easy option for completing and filing the Form 941 electronically.
The New Form 941 is now a much longer form, 4 pages as compared to the original 2 page length. The refundable tax credits offered under the CARES Act account for the additional 23 new data fields on the form.TaxBandits walks users through the Form 941, thus streamlining the filing process and leading to instant IRS approval.
The Benefits of E-filing Form 941 with TaxBandits:
TaxBandits' clients take advantage of a wide array of beneficial features. For example, business owners wishing to claim the Form 8974, Small Business Tax Credit for Increasing Research can easily opt to do so during the e-filing process.
CPEOs, PEOs, and 3504 Agents are required to submit Form 941 Schedule R with the IRS. When using the TaxBandits bulk upload feature, these users can easily upload large amounts of information for their clients at once. This makes the process of generating this attachment form much faster and more convenient.
TaxBandits also supports Schedule B, a requirement for semi weekly depositors.
Form 941 Worksheet 1 was created by the IRS to assist filers in calculating their refundable and nonrefundable tax credits due to COVID-19. When filing the Form 941 with TaxBandits, users are still able to use this worksheet as an additional resource.
When it comes to e-signatures and tax payments to the IRS, TaxBandits ensures the utmost ease and security. Business owners with an existing Online Signature PIN are accommodated by TaxBandits software. Business owners who have not yet acquired an Online Signature PIN from the IRS can apply through TaxBandits for free. In the meantime the Form 8453-EMP is a simple alternative. TaxBandits offers multiple secure payment options.
When asked about the upcoming second quarter deadline, Naga Palanisamy, President and Co-founder of SPAN Enterprises stated, " Regardless of your business' filing needs or your level of familiarity with IRS tax forms, TaxBandits provides all clients with an easy and complete solution for their Form 941 filing that is unrivaled by any other provider on the market."
About TaxBandits
TaxBandits is an IRS Authorized E-file Provider that is dedicated to helping businesses across the country complete a variety of payroll and employment tax filings with the IRS. TaxBandits supports the W-2 and 1099 as well as the 94x series of payroll forms and ACA Forms 1094-B/C and 1095-B/C to name a few. Security is at the core of our company. We take a multi-layered approach to data protection to ensure the safety of our clients' sensitive data. Start e-filing today at www.taxbandits.com.
About SPAN Enterprises
SPAN Enterprises, the creator of TaxBandits, is an industry leader in software solutions for IRS payroll and employment tax filings. Located in the heart of downtown Rock Hill, South Carolina, SPAN proves that even big ideas thrive in a small town. SPAN Enterprises offers a wide variety of software solutions including the Business Management Software, TruckLogics and Unitwise; ExpressTaxExempt for nonprofit organizations; the ACA reporting software, ACAwise; and the recent addition, 123PayStubs, an Online PayStub Generator. Learn more at www.spanenterprises.com.
CONTACT
Stephanie Glanville
704.684.4751
support@taxbandits.com
SOURCE: TaxBandits
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