Form 941 definition including break down of areas in the definition. Analyzing the definition of key term often provides more insight about concepts. Form 941 can be defined as: IRS form filed to report FICA taxes owed and remitted. Form 941 will be filled quarterly and report FICA taxes of social security and medicar as well as federal withholding from employees. Form 941 is an information return, the actual payments usually having been made before the time form 941 is filed.
