Table of Contents
Carefully enter your employer identification number (EIN) and name at the top of the schedule. Make sure that they exactly
match the name of your business and the EIN that the IRS assigned to your business and also agree with the name and EIN shown
on the attached Form 941 or
Form 941-SS.
Under Report for this Quarter at the top of Schedule B (Form 941), check the appropriate box of the quarter for which you are filing this schedule. Make
sure the quarter checked on the top of the Schedule B (Form 941) matches the quarter checked on your Form 941 or
Form 941-SS.
Schedule B (Form 941) is divided into the 3 months that make up a quarter of a year. Each month has 31 numbered spaces that correspond to the dates of a typical month. Enter your tax liabilities in the spaces that correspond to the dates you paid wages to your employees, not the date payroll deposits were made.
For example, if your payroll period ended on December 31, 2008, and you paid the wages for that period on January 6, 2009, you would:
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go to Month 1 (because January is the first month of the quarter) and
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enter your tax liability on line 6 (because line 6 represents the sixth day of the month).
Make sure you have checked the appropriate box on line 17 of Form 941 or Form 941-SS to show that you are a semiweekly schedule depositor.
To find your total liability for the quarter, add your monthly tax liabilities.
| Tax Liability for Month 1 | ||
| + | Tax Liability for Month 2 | |
| + | Tax Liability for Month 3 | |
| Total Liability for the Quarter | ||
| Your total liability for the quarter must equal line 10 on Form 941 or line 8 on Form 941-SS. | ||
Here are some examples.
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Employer A is a semiweekly schedule depositor who pays wages for each month on the last day of the month. On December 22, 2009, Employer A also paid its employees year-end bonuses (subject to employment taxes). Because Employer A is a semiweekly schedule depositor, Employer A must record employment tax liabilities on Schedule B (Form 941). For the 4th quarter (October, November, December), Employer A should report tax liability in this way—
Month Lines for dates wages were paid 1 (October) line 31 (pay day, last day of the month) 2 (November) line 30 (pay day, last day of the month) 3 (December) lines 22 (bonus paid) + 31 (pay day) -
Employer B is a semiweekly schedule depositor who pays employees every other Friday. Employer B accumulated a $20,000 employment tax liability on each of these pay dates:
1/13/09, 1/27/09, 2/10/09, 2/24/09, 3/10/09, and 3/24/09. Since Employer B is a semiweekly schedule depositor, Employer B must record tax liabilities on Schedule B (Form 941) in this way—Month Lines for dates wages were paid 1 (January) lines 13 and 27 2 (February) lines 10 and 24 3 (March) lines 10 and 24 -
Employer C is a new business and monthly schedule depositor for 2009. Employer C pays wages every Friday and has accumulated a $2,000 employment tax liability on
1/13/09 and a $110,000 liability on 1/20/09 and on every subsequent Friday during 2009. Under the deposit rules, employers become semiweekly schedule depositors on the day after any day they accumulate $100,000 or more of tax liability in a deposit period. For more information, see section 11 of Pub. 15 (Circular E) or section 8 of Pub. 80 (Circular SS).
Because Employer C accumulated $112,000 on 1/20/09, Employer C became a semiweekly schedule depositor on the next day and must complete Schedule B (Form 941) and file it with Form 941 or Form 941-SS. Employer C should record tax liabilities in this way—
| Month | Dates wages were paid | Amount to record | |
| 1 (January) | line 13 | $2,000 | |
| 1 (January) | lines 20, 27 | $110,000 | |
| 2 (February) | lines 3, 10, 17, 24 | $110,000 | |
| 3 (March) | lines 3, 10, 17, 24 | $110,000 | |
Example.
You reported a liability of $3,000 in day 1 of month 1. However, the liability was actually for month 3. Prepare an amended Schedule B (Form 941) showing the $3,000 liability in day 1 of month 3. Also, you must enter the liabilities previously reported for the quarter that did not change. Write “Amended” at the top of Schedule B (Form 941). The IRS will refigure the penalty and notify you of any change in the penalty.
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You have a tax decrease AND
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You were assessed an FTD penalty.
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