Tax Dictionary – Employment Tax Returns

IRS Definition

Generally, employers must report wages, tips and other compensation paid to an employee by filing the required forms to the IRS. You must also report taxes you deposit by filing Forms 940, 941 and 944 on paper or through e-file.

More from H&R Block

Employers are required to report the amounts they withhold from an employee’s pay check and the employer portion of Social Security/Medicare on the quarterly Form 941 or the annual Form 944. The quarterly Form 940 shows the Federal Unemployment taxes which are the sole responsibility of the employer. These returns reflect the total amount of taxes owed and then reconcile the taxes owed with the business’ federal tax deposits.

Do you have unfiled employment tax returns? Learn how to get back in good standing with the IRS.

Related Topics

Related Resources

Tax Dictionary – IRS Account Information

Learn about your IRS account information. Read the IRS definition and get more insight from the tax experts at H&R Block.

IRS Letter 916C – Claim Incomplete for Processing; No Consideration

Receive an IRS 916C letter? Learn more about letter 916C, why you received it, and how to handle it with help from the tax experts at H&R Block

IRS Letter 545 – We Recalculated Your Tax – You Filed More Than One Return

Learn more about letter 545, why you received it, and how to handle an IRS 545 letter with help from the tax experts at H&R Block.

IRS Notice CP297 – Intent to Seize Your Assets and Notice of Your Right to a Hearing

Learn more about notice CP297, your appeal rights, and how to handle an IRS tax bill with help from the tax experts at H&R Block.