FED 941 overpayment for current quarter

I am ready to file 941 for the 4th quarter of 2016, and realized I made overpayment on the October and November, can I ask for a refund? and Do I need to file 941X? I haven't file 941 for Q4 2016 yet.

Carl
Level 15

Get your taxes done using TurboTax

That's actually a good thing. I ALWAYS overpay my quarterly taxes. That way, I am one hundred percent guaranteed that I will get a refund when I file my tax return. So nothing to worry about. Your overpayment will be refunded to you when you file your 2016 tax return.

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Do I need to file 941X to correct this error?
Carl
Level 15

Get your taxes done using TurboTax

What error? It's not an error. Just an overpayment. You'll get it back when you file your 2016 return, which you're probably getting started on now. You asked "can I ask for a refund", and the answer is yes. You will get that refund when you file your 2016 tax return, AUTOMATICALLY. No special action required on your part.

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I am a monthly depositor, since I am overpaid on Oct and Nov, do I still need to make payment for Dec online? My Dec balance is 0, but the online system won't allow to put into 0 as payment.
Carl
Level 15

Get your taxes done using TurboTax

So make a $1 payment then.
ssanders4
New Member

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I received a check back from my overpayment. What process do I follow?

HopeS
Expert Alumni

Get your taxes done using TurboTax

It appears you made a mistake with your computation which could be the reason you were issued a refund. 

Go ahead and deposit the check. Typically, you should receive a notice explaining the reason. 

You will need to amend your 941 and correct the Forms W-2 /W-3 respectively to match the IRS record.

 

See additional information in the IRS link below:

 

Correcting Employment Taxes

 

@ssanders4 

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