What is the Penalty for Failing to File Form 941?
A failure to file and pay required taxes by quarterly deadline results in a hefty penalty by the IRS. Late filing result in a 5% penalty each month the return is late but not exceeding 25%,
If your payment is late or the full amount is unpaid, you will be charged 2 to 15% of the unpaid tax determined by the number of days it remains unpaid.
Last modified 18 Jul 2017 15:07 EST