instructions 941 Form 2024

instructions 941 Form: What You Should Know

Payments for food, shelter, clothing, personal care items, and transportation of family pets that are subject to Illinois state income tax (but is paid for by the employee); • Payments covered by the Illinois disability tax law (see the  Illinois Disability Tax Act, IRC section 1.5(h) for an explanation of what an employee is required to fill out); • Payments made by an employer for an employee's participation in a federally funded state or local health care program (but only to the extent that federal income and/or payroll tax withholding is due to the employee); or • Payments with respect to an employee's participation in a federally funded student financial assistance program; or • Payments for child care in excess of the rate used to determine the Federal Income Tax Credit for Child Care. See this page on Form IL-941 for more information. Form IL-941, Employer's Quarterly Federal Tax Return — Illinois. Gov You must file Form IL-941 if you paid amounts subject to IL state income tax (either required or by voluntary agreement), such as: • Wages and other payments for food, rent payments, mortgage interest payments, child support payments, or any amount paid by an employee's employer for child care; • Payments for a person under the age of 16 whose mother or parent's employer required the payment or is required to provide such a child with child care; • Payments paid to a parent, or to a stepparent, to provide the care of their child; • Payments that exceed the amount that would be includible in your taxable income based on your modified adjusted gross income (see above); or • Any amount reported as an advance or down payment on a home mortgage transaction, as a down payment on a consumer credit transaction (as those terms are defined in IRC section 3112(a)(14)) or a tax-exempt interest on a secured consumer loan, as a down payment on a qualified education loan (for those loans that are not tax-exempt), or as cash payments in lieu of taxes or interest due on a qualified health plan, as cash payments.

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