@OxanaD wrote:
We included unemployment taxes, Ss and medicare tax for last years return since we didn’t know we were exempt. So we owed money and now have to file quarterly. Also owed penalties for not filing quarterly. So even though we owed money last year it’s still ok not to file quarter 941 this year?And can we get a refund for last year’s money paid due to
us not knowing that we didn’t have to pay Ss, medicare and unemployment. Thank you so much for
these answers.
If you filed form 941 in 2023, you should still also have filed a schedule H with your tax return. Because you withheld tax on form 941 (even by mistake), you were required to file schedule H even though you would normally be required to include it.
I believe you need to file amended form 941s, a corrected W-2, and an amended tax return to remove schedule H. If you can't do this yourself, you might find that the cost to have a tax professional help you might be more than the taxes you paid. You would have to think about this carefully.
Going forward, it's fine if you stop filing form 941, the form is only required when you withhold taxes from qualifying employees or you have employees who will receive a W-2, and if you don't have any employees who will receive a W-2, you don't need to file the form.
