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Fillable Printable Form 941Sb

Fillable Printable Form 941Sb

Form 941Sb

Form 941Sb

Cat. No. 11967Q
OMB No. 1545-0029
Employer’s Record of Federal Tax Liability
(Rev. November 1998)
©
See Circular E for more information about employment tax returns.
Department of the Treasury
Internal Revenue Service
©
Attach to Form 941 or 941-SS.
Name as shown on Form 941 (or Form 941-SS)Employer identification numberDate quarter ended
You must complete this schedule if you are required to deposit on a semiweekly schedule, or if your tax liability on
any day is $100,000 or more. Show tax liability here, not deposits. (The IRS gets deposit data from FTD coupons or
EFTPS.)
A. Daily Tax Liability—FirstMonth of Quarter
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
Total tax liability for first month of quarter
©
B. Daily Tax Liability—SecondMonth of Quarter
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
Total tax liability for second month of quarter
©
C. Daily Tax Liability—ThirdMonth of Quarter
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
Total tax liability for third month of quarter
©
Total for quarter (add lines A, B, and C). This should equal line 13 of Form 941 (or line 10 of Form 941-SS)
©
SCHEDULE B
(FORM 941)
5151
A
B
C
D
A
B
C
D
Schedule B (Form 941) (Rev. 11-98)For Paperwork Reduction Act Notice, see page 2.
Page2Schedule B (Form 941) (Rev. 11-98)
Paperwork Reduction Act Notice. We
ask for the infor mation on this form to
carry out the Internal Revenue laws of
the United States. You are required to
give us the infor mation. We need it to
ensure that you are complying with
these laws and to allow us to figure and
collect the right amount of tax.
The time needed to complete and file
this for m will vary depending on
individual circumstances. The estimated
average time is 2 hr., 53 min.
If you have comments concerning the
accuracy of this time estimate or
suggestions for making this for m
simpler, we would be happy to hear from
you. You can write to the Tax For ms
Committee, Western Area Distribution
Center, Rancho Cordova, CA
95743-0001. DO NOT send the tax for m
to this address. Instead, see Where to
file in the For m 941 or 941-SS
instructions.
General Instructions
Purpose of form. Use Schedule B
(For m 941) to report your tax liability
(income tax withheld plus both employee
and employer social security and
Medicare taxes minus any advance
ear ned income credit payments) on a
daily basis. For m 941-SS filers report
only employee and employer social
security and Medicare taxes. Do not
show Federal tax deposits. Deposit
infor mation is obtained from the deposit
coupons (For m 8109) or from the
Electronic Federal Tax Payment System
(EFTPS).
Who must file. Semiweekly schedule
depositors are required to complete and
attach Schedule B to Form 941. Monthly
schedule depositors who accumulate
$100,000 or more on any day must also
complete and attach Schedule B. If your
total tax liability for the quarter is less
than $1,000, you need not complete
Schedule B (Form 941). Schedule B also
must be used by semiweekly schedule
depositors who file Form 941-SS,
Employer’s Quarterly Federal Tax Retur n
(for American Samoa, Guam, the
Commonwealth of the Norther n Mariana
Islands, and the U.S. Virgin Islands).
Specific Instructions
Enter the monthly totals on lines A, B,
and C. Add these monthly subtotals and
enter the total tax liability for the quarter
on line D. The amount on line D should
equal For m 941, line 13; or Form
941-SS, line 10.
Completing the Employer’s Record of
Federal Tax Liability. If you are required
to report your tax liabilities on Schedule
B (For m 941) as discussed above, file
the schedule with Forms 941 or 941-SS.
Do not complete columns (a) through (d)
of the Monthly Summary of Federal Tax
Liability (line 17 on For m 941 or
941-SS). However, be sure to mark the
Schedule B checkbox above line 17.
Example B. Employer B is a semiweekly
schedule depositor. It has paydays every
other Friday. It accumulated a $20,000
employment tax liability on each of the
following pay dates: 1/8/99; 1/22/99;
2/5/99; 2/19/99; 3/5/99; and 3/19/99.
Since Employer B is a semiweekly
schedule depositor, it is required to
record its tax liabilities on Schedule B
(For m 941). Employer B must record the
$20,000 liabilities on lines 8 and 22 of
part A (First Month of Quarter); lines 5
and 19 of part B (Second Month of
Quarter); and lines 5 and 19 of part C
(Third Month of Quarter).
Example C. Employer C is a new
business and is a monthly schedule
depositor for 1999. Employer C has
paydays every Friday and accumulated a
$2,000 employment tax liability on
1/8/99 and a $110,000 tax liability on
1/15/99 and each of the following
Fridays during 1999. Under the deposit
rules, an employer becomes a
semiweekly schedule depositor when a
$100,000 or more tax liability is
accumulated on any day within a
deposit period (see section 11 of
Circular E or section 9 of Circular SS for
details). Because Employer C
accumulated $112,000 on 1/15/99, it
became a semiweekly schedule
depositor on that date and must
complete Schedule B (For m 941) and file
it with For m 941 or 941-SS. It should
record the $2,000 liability on line 8 of
section A and $110,000 on the lines for
the remaining pay dates. Employer C
does not complete the Monthly
Summary of Federal Tax Liability (line 17
of For m 941 or 941-SS) even though it
was a monthly schedule depositor until
1/15/99.
Each numbered space on the
schedule corresponds to dates during
the quarter. Report your tax liabilities on
this schedule corresponding to the dates
wages are paid, not to when payroll
liabilities are accrued. For example, if
your payroll period ends December 31,
1998, and the wages for that period are
paid on January 5, 1999, the
employment tax liability for those wages
should be reported on Schedule B for
the first quarter of 1999 on line 5,
section A (First Month of Quarter).
Example A. Employer A, who is a
semiweekly schedule depositor, pays
wages once each month on the last day
of the month. On December 20, 1999,
Employer A also paid year-end employee
bonuses (subject to employment tax and
income tax withholding). Because
Employer A is a semiweekly schedule
depositor, it is required to record
employment tax and withholding
liabilities on Schedule B (For m 941).
Employer A should report tax liabilities
for the 4th quarter (October–December)
on line 31, section A (First Month of
Quarter); line 30, section B (Second
Month of Quarter); and lines 20 and 31,
section C (Third Month of Quarter).
Important. Schedule B (Form 941) is
used by the IRS to deter mine if you
have timely deposited your employment
and withholding tax liabilities. Unless
Schedule B is properly completed and
filed with For m 941 or 941-SS, the IRS
will not be able to process your retur n
and will have to contact you for the
missing infor mation.
Adjustments. Semiweekly schedule
depositors must take into account on
Schedule B adjustments to correct
errors on prior retur ns (reported on lines
4 and 9 of For m 941 or on line 9 of
Form 941-SS). If the adjustment was to
correct an underreported liability in a
prior quarter, report the adjustment on
the entry space corresponding to the
date the error was discovered.
If the adjustment corrects an
overreported liability, use the
adjustment amount as a credit to offset
subsequent liabilities until it is used up.
For example, Employer D discovered on
1/15/99 that it overreported social
security tax on a prior quarter return by
$10,000. It paid wages on 1/8/99,
1/15/99, 1/22/99, and 1/29/99 and had a
$5,000 tax liability for each of those pay
dates. Employer D must report a $5,000
liability on line 8, section A of Schedule
B. The adjustment for the $10,000
overreported liability is used to offset the
1/15/99 and 1/22/99 liabilities, so these
two $5,000 liabilities are not deposited
or reported on Schedule B. The $5,000
liability for 1/29/99 must be reported on
line 29, section A of Schedule B. See
section 13 of Circular E for details on
reporting adjustments to correct errors
on prior period returns.
You are not required to provide the
infor mation requested on a for m that is
subject to the Paperwork Reduction Act
unless the for m displays a valid OMB
control number. Books or records
relating to a form or its instructions must
be retained as long as their contents
may become material in the
administration of any Internal Revenue
law. Generally, tax returns and return
infor mation are confidential, as required
by Code section 6103.
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