What form reports income taxes withheld from various sources including wages and tips?

The form that reports income taxes withheld from various sources, including wages and tips, is Form 941. This form is a quarterly federal tax return that employers must file to report the amount of federal income tax withheld from employee wages, as well as Social Security and Medicare taxes. It provides the IRS with a detailed account of both the employer's tax liability and the taxes that have been withheld from employee paychecks during the reporting period.

By using Form 941, employers ensure they are in compliance with federal tax laws, as it tracks the withholding amounts and contributes to the overall financial responsibilities of the business. Properly reporting these figures is essential for ensuring that employees' withholdings are correctly accounted for and that any obligations to the IRS are met in a timely manner.

The other forms mentioned serve different purposes. For example, Form W-2 is issued at the end of the year to employees and summarizes the income earned and the taxes withheld over the entire year, while EFW2 is an electronic version of the W-2 form. The Annual Statement of Deposits and Filings does not specifically report tax withholdings from wages or tips in the way that Form 941 does.