Forms 941 & 940 — Employer Payroll Taxes (2025)

Employers use Form 941 to report quarterly federal income tax withholding and Social Security/Medicare taxes. Form 940 is used to report annual Federal Unemployment Tax Act (FUTA) liability.

Form 941 (Quarterly)

Due quarterly; reports wages, tips, federal income tax withheld, and both employer and employee portions of Social Security/Medicare.

Form 940 (Annual FUTA)

Reports employer FUTA tax — check wage base and creditable state unemployment contributions for 2025 when computing liability.

Employers should maintain payroll records, deposit schedules, and verify thresholds for 2025 on IRS.gov or with payroll providers.