What’s New in Social Security, Medicare Taxes, and Electronic Filing for 2025 (Form 941)

The IRS has published important 2025 updates to Social Security and Medicare taxes for employees and employers. Corporations must adjust payroll processes with significant changes in wage bases and thresholds. This is what you need to know about these essential tax changes.

Social Security Tax and Medicare Taxes in 2025

• Social Security Tax: Both employees and employers will pay 6.2%, with the wage base limit set at $176,100.
  
  
• Medicare Tax: A 1.45% tax for both employees and employers, with no wage base limit.
  
  
• Household & Election Workers: Social Security and Medicare taxes are payable on household workers you pay cash wages of $2,800 or more during 2025 and election workers paid $2,400 or more in cash or its equivalent during 2025.
  _{Instructions for Form 941 (Rev. March 2025)}

E-file Your Form 941 Correction (941-X)

If you made a mistake on a previously filed Form 941, you can now e-file Form 941-X, Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund, with TaxZerone. Save time, reduce errors, and get your corrections processed quickly.

Start e-filing today for a hassle-free experience with TaxZerone! For detailed instructions, check out the Form 941-X instructions.

Draft Form 941 for 2025

The IRS has released a 2025 draft of Form 941. Employers use this form to report wages, tips, and other types of compensation paid to employees, as well as the payroll taxes that come with them. Keep an eye out for the final version so you can file it accurately.

At TaxZerone, we’re here to walk you through the tax filing requirement updates, offering solutions that make it simple to file Form 941 and other essential tax forms.

Note: Accurate payroll records, including generated paystubs, are essential for correct tax filing.

Important 941 Filing Deadlines

Form 941 is due on the last day of the month following each quarter’s end. For the tax year 2025, the deadlines to file Form 941 are as follows:

• First Quarter (January – March): April 30, 2025
  
• Second Quarter (April – June): July 31, 2025
  
• Third Quarter (July – September): October 31, 2025
  
• Fourth Quarter (October – December): February 02, 2026

Submit your returns on time to avoid penalties. When preparing your 2025 taxes, keep these deadlines in mind.

Also read: Understanding Form 941: A Comprehensive Guide for Employers