Form 941-V IRS

What Is 941V Form

The 941V form, also known as the Payment Voucher for Form 941, serves a specific function. It is utilized when employers pay with a check or money order for their quarterly federal tax return. This form acts as an accompanying document to Form 941, ensuring that the payment is correctly applied to the employer's account. It is important to note that Form 941V is not used for electronic payments, which have a separate process.

Difference between form 941 and 941V

While they might seem similar at first glance, there is a clear difference between Form 941 and 941V. Form 941 is a quarterly tax return that employers fill out to report income taxes, Social Security taxes, or Medicare taxes withheld from their employees' paychecks. On the other hand, Form 941V is strictly a payment voucher used when submitting a payment by mail. It does not replace the need for filing Form 941; it simply accompanies the payment if not made electronically.

How to Fill Out the 941V Form

Filling out the 941-V form is a straightforward process:

1. Locate the field designated for your Employer Identification Number (EIN) and enter it accurately as it appears on your official IRS documents.
2. Determine the precise amount you intend to pay and write this in the space provided for your payment amount. You’ll be entering both the dollar and cent amounts. Remember, when you make your payment via check or money order, it should be made payable to the “United States Treasury.”
3. Choose the appropriate tax period that your payment corresponds to by marking the checkbox next to the relevant quarter, which could either be the 1st, 2nd, 3rd, or 4th Quarter.
4. Provide the name of your business exactly as it’s recognized legally. If you’re a sole proprietor, write your individual name in place of the business name.
5. Fill in the address section with the current address of your business operations.
6. In the next field, write your city, followed by the state and the ZIP code that are applicable to your business. 
7. If your business is located outside of the United States, enter the city, the name of the foreign country, the foreign province or county, and the foreign postal code instead.
8. Ensure all entered information on your 941V form printable template is accurate and correct.
9. Take the completed voucher along with your check or money order and mail it to the IRS.
10. Please remember to make sure not to attach the voucher or your form of payment to Form 941 when you’re ready to submit.

Address to mail form 941V

The IRS provides several addresses for mailing your tax forms, which vary based on the state your business resides in and whether you include a payment. To find the current address to mail completed form 941V, consult the IRS's latest instructions for Form 941 or visit the official IRS website. Make certain you're using the most current address information to avoid any delays in processing.