&l0O&l8c66p0e66f0L&k0G(0U(s1p8v1b0s4T&a5r12CPaperwork Reduction Act Notice. --&a10.6r162CExample C:&a11.4r87CCompleting the Employer's Record of&a12.2r87CFederal Tax Liability. --&a22.6r101.1Cnot&a24.2r12CPurpose of Form. --&a27.4r162CAdjustments. --&a29.8r87CExample A:&a30.6r205.8Cunderreported&a31.4r162Cliability&a35.4r162Coverreported liability,&a36.2r19.2CForm 945,&a40.2r12CWho Must File. --&a43.4r144.9CA, B, &a44.2r93.6CC.&a45r148.8CD.&a45.8r116.7CD&a47.4r24.3CForm 941-SS,&a48.2r87CExample B:&a50.6r21CImportant. --(0U(s1p10v1b0s4T&a3r152.2C2(0U(s1p12v1b0s4T&a9.8r48.3CSpecific Instructions&a22.6r6.7CGeneral Instructions(0U(s1p6v0b0s4T&a54r20CH733&a45CNTF 4742I&a55r20CCopyright Forms Software Only, 1993 Nelco, Inc. N94941B2(0U(s1p8v0b0s4T&a3r12CSchedule B (Form 941) (Rev. 1-94)&a217.5CPage&a5r87Cand withholding tax liabilities. Unless&a162Cliabilities on Schedule B (Form 941). Employer&a5.8r12CWe ask for the information on this form to&a87CSchedule B is properly completed and filed&a162CB must record the $20,000 liabilities on lines 7&a6.6r12Ccarry out the Internal Revenue laws of the&a87Cwith Form 941, the IRS will not be able to&a162Cand 21 of part A (First Month of Quarter); lines&a7.4r12CUnited States. You are required to give us the&a87Cprocess your return and will have to contact&a162C4 and 18 of part B (Second Month of Quarter);&a8.2r12Cinformation. We need it to ensure that you are&a87Cyou for the missing information.&a162Cand lines 4 and 18 of part C (Third Month of&a9r12Ccomplying with these laws and to allow us to&a162CQuarter).&a9.8r12Cfigure and collect the right amount of tax.&a10.6r180.9CEmployer C is a new business&a11.4r21CThe time needed to complete and file&a11.4r162Cand is a monthly depositor for 1994. Employer&a12.2r12Cthis form will vary depending on individual&a125.1CIf you are required&a162CC has paydays every Friday and accumulated&a13r12Ccircumstances. The estimated average time is&a87Cto report your tax liabilities on Schedule B&a162Ca $2,000 employment tax liability on 1/7/94&a13.8r12C2 hr., 40 min.&a87C(Form 941) as discussed above, file the&a162Cand a $110,000 tax liability on 1/14/94 and&a14.6r87Cschedule with Forms 941 or 941-SS. Do not&a162Ceach of the following Fridays during 1994. The&a15.4r21CIf you have comments concerning the &a15.4r87Ccomplete columns (a) through (d) of the&a162Cdeposit rules state that an employer becomes&a16.2r12Caccuracy of this time estimate or suggestions&a87CMonthly Summary of Federal Tax Liability&a162Ca semiweekly schedule depositor when a&a17r12Cfor making this form more simple, we would&a87C(e.g., line 17 on Form 941). However, be sure&a162C$100,000 or more tax liability is accumulated&a17.8r12Cbe happy to hear from you. You can write to&a87Cto mark the Schedule B checkbox.&a162Con any day within a deposit period (see&a18.6r12Cboth the IRS and the Office of Management&a162CChapter I, section 11 of Circular E for details).&a19.4r12Cand Budget at the addresses listed in the&a19.4r96CEach numbered space on the &a19.4r162CSince Employer C accumulated $110,000 on&a20.2r12Cinstructions of the tax return with which this&a87Cschedule corresponds to dates during the&a162C1/14/94, it became a semiweekly depositor on&a21r12Cform is filed.&a87Cquarter. Report your tax liabilities on this&a162Cthat date and must complete Schedule B&a21.8r87Cschedule corresponding to the dates wages&a162C(Form 941) and file it with Form 941. It should&a22.6r87Care paid,&a107.1Cto when payroll liabilities are&a162Crecord the $2,000 liability on line 7 of section A&a23.4r87Caccrued. For example, if your payroll period&a162Cand $110,000 on the lines for the remaining&a24.2r44.7CUse Schedule B (Form&a87Cends December 31, 1993, and the wages for&a162Cpay dates. No entries should be made on line&a25r12C941) to report your tax liability (income tax&a87Cthat period are paid on January 7, 1994, the&a162C17 of Form 941 although Employer C was a&a25.8r12Cwithheld plus both employee and employer&a87Cemployment tax liabliity for those wages&a162Cmonthly depositor until 1/14/94.&a26.6r12Csocial security and Medicare taxes minus any&a87Cshould be reported on Schedule B for the first&a27.4r12Cadvance earned income credit payments) on&a87Cquarter of 1994 on line 7, section A (First&a188.1CSemiweekly depositors must&a28.2r12Ca daily basis. DO NOT show Federal tax&a87CMonth of Quarter).&a162Ctake into account on Schedule B adjustments&a29r12Cdeposits here. Deposit information is obtained&a162Cto correct errors on prior returns (e.g.,&a29.8r12Cfrom the deposit coupons (Form 8109).&a105.6CEmployer A, who has a&a162Creported on lines 4 and 9 of Form 941). If the&a30.6r87Csemiweekly deposit schedule, pays wages&a162Cadjustment was to correct an&a31.4r21CBeginning January 1, 1994, income&a31.4r87Conce each month on the last day of the&a174Cin a prior quarter, report the&a32.2r12Ctax withholding for nonpayroll items such&a87Cmonth. On December 20, 1994, Employer A&a162Cadjustment on the entry space corresponding&a33r12Cas pensions, annuities, gambling winnings,&a87Cpaid year-end employee bonuses (subject to&a162Cto the date the error was discovered.&a33.8r12Cand backup withholding, will no longer be&a87Cemployment tax and income tax withholding).&a34.6r12Creported on Form 941 or Schedule B (Form&a87CSince Employer A is a semiweekly schedule&a34.6r171CIf the adjustment corrects an &a35.4r12C941). This withholding will be reported on the&a87Cdepositor, it is required to record employment&a196.5Cuse the adjustment&a36.2r12Cnew&a35.7CAnnual Return of Withheld&a87Ctax and withholding liabilities on Schedule B&a162Camount as a credit to offset subsequent&a37r12CFederal Income Tax. Refer to Chapter II of&a87C(Form 941). Employer A should report tax&a162Cliabilities until it is used up. For example,&a37.8r12CCircular E for details on depositing and&a87Cliabilities for the 4th quarter&a162CEmployer D discovered on 1/10/94 that it&a38.6r12Creporting nonpayroll income tax withholding.&a87C(October-December) Schedule B on line 31,&a162Coverreported social security tax on a prior&a39.4r87Csection A (First Month of Quarter); line 30,&a162Cquarter return by $10,000. It paid wages on&a40.2r41.1CSemiweekly depositors&a87Csection B (Second Month of Quarter); and&a162C1/7/94, 1/14/94, 1/21/94, and 1/28/94 and&a41r12Care required to complete and attach&a87Clines 20 and 31, section C (Third Month of&a162Chad a $5,000 tax liability for each of those pay&a41.8r12CSchedule B to Form 941. Monthly&a87CQuarter).&a162Cdates. Employer D must report a $5,000&a42.6r12Cdepositors who accumulate $100,000 or&a162Cliability on line 7, section A of Schedule B. The&a43.4r12Cmore on any day must also complete and&a43.4r96CEnter the monthly totals on lines&a43.4r162Cadjustment for the $10,000 overreported&a44.2r12Cattach Schedule B. If your total tax liability for&a87Cand&a97.8CAdd these monthly subtotals and enter&a162Cliability is used to offset the 1/14/94 and&a45r12Cthe quarter is less than $500, you need not&a87Cthe total tax liability for the quarter on line&a162C1/21/94 liabilities, so these two $5,000&a45.8r12Ccomplete Schedule B (Form 941). Schedule B&a87CThe amount on line&a120Cshould equal Form 941,&a162Cliabilities are not deposited or reported on&a46.6r12Calso must be used by semiweekly depositors&a87Cline 13; or Form 941-SS, line 10.&a162CSchedule B. The $5,000 liability for 1/28/94&a47.4r12Cwho file&a47.1CEmployer's Quarterly&a162Cmust be reported on line 28, section A of&a48.2r12CFederal Tax Return (for Guam, the Virgin&a105.6CEmployer B is a semiweekly&a162CSchedule B. See section 12 of Circular E for&a49r12CIslands, etc.).&a87Cdepositor. It has paydays every other Friday. It&a162Cdetails on reporting adjustments to correct&a49.8r87Caccumulated a $20,000 employment tax&a162Cerrors on prior period returns.&a50.6r42.9CSchedule B (Form 941)&a50.6r87Cliability on each of the following pay dates:&a51.4r12Cis used by the IRS to determine if you have&a87C1/7/94; 1/21/94; 2/4/94; 2/18/94; 3/4/94; and&a52.2r12Ctimely deposited your employment&a87C3/18/94. Since Employer B is a semiweekly&a53r87Cdepositor, it is required to record its tax(0B(s0p10h12v0s3b0T&a3.5r4COOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO(8U(s0p10h12v0s0b3T &a0l0r0C
