Employers who are semiweekly depositors must file Schedule B with (941).
Purpose of Schedule B:
These instructions tell you about Schedule B. To determine if you’re a semiweekly schedule depositor, see section 11 of Pub. 15, Employer's Tax Guide www.irs.gov/publications/p15
Federal law requires you, as an employer, to withhold certain taxes from your employees’ pay. Each time you pay wages, you must withhold—or take out of your employees’ pay—certain amounts for federal income tax, social security tax, and Medicare tax.
Federal law also requires employers to pay any liability for the employer share of social security and Medicare taxes. This share of social security and Medicare taxes isn’t withheld from employees.
On Schedule B, list your tax liability for each day. Your tax liability is based on the dates wages were paid. Your liability includes:
- The federal income tax you withheld from your employees' pay, and
- Both the employer and employee share of social security and Medicare taxes.
Don’t use Schedule B to show federal tax deposits. The IRS gets deposit data from electronic funds transfers.
The IRS uses Schedule B to determine if you’ve deposited your federal employment tax liabilities on time. If you're a semiweekly schedule depositor and you don’t properly complete and file your Schedule B with Form 941, the IRS may propose an “averaged” FTD penalty. See Deposit Penalties in section 11 of Pub.15.
Who Must File?
File Schedule B if you’re a semiweekly schedule depositor. You’re a semiweekly schedule depositor if you reported more than $50,000 of employment taxes in the lookback period or accumulated a tax liability of $100,000 or more on any given day in the current or prior calendar year. If you became a semiweekly schedule depositor during the quarter, you must complete Schedule B for the entire quarter. See section 11 of Pub.15.
When Must you File?
Schedule B is filed with Form 941. Therefore, the due date of Schedule B is the same as the due date for the applicable Form 941.
For additional information and/or specific instructions see > www.irs.gov/instructions/i941/scheduleB
See our 941 Support Article as needed > 941-Form-Information