Filing Form 941

Quarterly tax returns in iSolved are automatically generated once the final payroll of the quarter has been processed. Because these forms populate prior to the corresponding tax payments being remitted, the system will initially reflect an outstanding balance and produce a Form 941-V payment voucher.

To ensure accuracy and compliance, Form 941 must be regenerated after all applicable tax payments have been completed and before filing with the IRS. This process updates the return to reflect the correct payment status and eliminates any balance due shown on the initial version.

• Pay 941 taxes as normal using the below reference 

Reference: IRS Semi-Weekly Deposit Schedule (Summary)
Payroll Vault's best practice is to set each client to a semi-weekly filer.|
Semi-weekly deposit schedule must remit payroll taxes:

• • Wednesday due date for wages paid Wednesday–Friday

• • Friday due date for wages paid Monday–Tuesday
• Navigate to Tax Filing Management > Tax Utilities > Regenerate Tax Output
  • Filter for year and quarter we are currently filing 
  • Filter Tax form: F941 - Federal Quarterly Tax Return (Form 941)
  • Select Filer 
  • Check mark all forms 
  • Select Regenerate on black bar 
• Approve 941 forms as normal and transmit to IRS