 Hello, in this lecture, we will define Form 941. According to fundamental accounting principles, Wilde 22nd edition, the definition of Form 941 is, IRS Form filed to report FICA taxes owed and remitted. When we think about Form 941, we're thinking about payroll taxes, a payroll tax form, a payroll tax reporting form. FICA is going to be the law that governs social security and Medicare. The Form 941 is going to show what the liability is in relation to the social security, the Medicare, as well as the federal income tax that has been withheld, not for the corporation on corporate wages or corporate net income, that is, but for the withholdings from employees for their federal income tax withholding. The form is going to look like this. We've got the information