Certified Payroll Professional Practice Exam

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What is the purpose of Form 941-X?

  1. Employers Annual Federal Tax Return for Agricultural Employees

  2. Employers Annual Federal tax return is to report to the IRS by so called small employers

  3. Adjusted Employers Quarterly Federal Tax Return or Claim of Refund

  4. Annual Return of withheld federal income tax

The correct answer is: Adjusted Employers Quarterly Federal Tax Return or Claim of Refund

Form 941-X is used for making adjustments to the Employer's Quarterly Federal Tax Return or Claim of Refund. It is not the Employers Annual Federal Tax Return for Agricultural Employees (option A), nor is it specific to small employers (option B). Form 941-X is not related to the Annual Return of withheld federal income tax (option D). The correct answer, option C, best describes the purpose of Form 941-X as the form used for adjustments or refund claims related to the quarterly federal tax return.

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