Form 941-SS is the US Territories Employer’s Quarterly Federal Tax Return filed by wage-paying employers in American Samoa, Guam, the Commonwealth of the Northern Mariana Islands, and the US Virgin Islands. If you own and operate a business with employees in US territories, you will need to file IRS Form 941-SS quarterly. Employers are responsible for withholding federal income tax, social security tax, and Medicare tax from each employee’s salary.
January - March
April - June
July - September
October - December
The IRS requires an e-signature to complete Form 941 to make sure that the person filing the federal taxes, as you or someone that you have authorized to file for you. If you don’t possess a PIN, you will need to complete and e-sign Form 8453-EMP.
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Failure to file by deadline will result in a 5% penalty on the tax return for each month the return is late. This penalty caps at 25%. The IRS will also heavily penalize you for late payment or not paying the full amount owed. You will be charged 2-15% of the unpaid tax determined by the number of days it remains unpaid.
Late deposit penalty amounts are determined using calendar days, starting from the due date of the liability.