Filing Requirements May Change for Small Businesses

Employers who receive written notification from IRS of their qualification for the new Employers' Annual Federal Tax Program generally file a Form 944, Employer's Annual Federal Tax Return, rather than Form 941. IRS says that the new Form 944 Program will significantly reduce tax filing burdens for nearly 950,000 small business owners because they will only have to file the new Form 944 once a year rather than filing Form 941 four times a year.