A business 941 transcript is a document that shows the details of your business’s quarterly federal tax return, Form 941. It includes information such as the amount of taxes withheld from employee wages, the amount of Social Security and Medicare taxes paid, and the amount of credits claimed.

Businesses need to request a 941 transcript for a variety of reasons, including:

  • To verify their tax liability for a particular quarter.
  • To resolve tax discrepancies with the IRS.
  • To apply for a loan or line of credit.
  • To obtain a mortgage.
  • To comply with state or local regulations.

There are three ways to request a business 941 transcript:

  • Online:¬†You can use the IRS’s Get Transcript Online service to request a transcript for the current and three prior tax years.

The IRS will typically process your request for a 941 transcript within 5 to 10 business days.

How to obtain old tax documents | Legalzoom

Here are some additional things to keep in mind about business 941 transcripts:

  • You can only request transcripts for tax years that have already been filed.
  • You must be the authorized representative of the business to request a transcript.
  • You will need to provide the IRS with your taxpayer identification number (TIN) and the business’s EIN.
  • The IRS charges a fee for transcripts requested by mail or phone.

I hope this article has been helpful. If you have any further questions about business 941 transcripts, please consult with a tax professional.