Form M-941 - Instructions For Tax Return Of Income Taxes Withheld

Form M-941 - Instructions For Tax Return Of Income Taxes Withheld - 2015 Page 2

Line 2. Enter the total amount of payments previously

and correct as to every material matter is guilty of a felony,

made during the withholding period. List each payment

punishable by a fine of up to $100,000 ($500,000 for cor-

with the payment date on the back of this form.

porations), or by imprisonment of up to three years, or

both. If a corporation or a partnership fails to pay taxes,

Line 3. Enter any credit for overpayment of taxes for the

the person, or persons, who had the duty to submit those

previous period that was designated as an amount to be

payments on behalf of the corporation or the partnership

credited to the next period.

is personally and individually liable for the amount of the

Line 4. Add lines 2 and 3. Enter the result here.

required taxes. Unpaid taxes exceeding $25,000 for six

months or longer are subject to public listing.

Line 5. Subtract line 4 from line 1 and enter the result in

line 5. If line 5 is a positive number, add this amount to any

Line 8. Add lines 5 through 7. This is the total amount

amount in lines 6 and 7, if applicable, and enter the result

due.

in line 8. If line 5 is a negative number, enter this amount

Line 9 and line 10. The entire overpayment amount

in either line 9 (credit to next period) or line 10 (refund).

must be either credited or refunded. You cannot split the

Line 6 and line 7. Penalties and interest. Penalties are

overpayment amount between line 9 and line 10. If you

imposed for late filing of a return and late payment on a

make an entry in line 9 and line 10, the entire amount will

return. The late filing penalty is calculated at a rate of 1%

be refunded.

of the tax due per month, up to a maximum of 25%. The

Line 9. Amount overpaid to be credited to next tax

late payment penalty is calculated at a rate of 1% of the

period. To have the overpayment credited to the next tax

tax due per month, up to a maximum of 25%. Interest is

period, enter the entire overpayment amount in line 9. If

charged on underpayments and late payments of tax.

you choose to claim a credit in line 9, you cannot claim a

Call the Contact Center Bureau at (617) 887-6367 or

refund in line 10.

toll-free in Massachusetts at 1-800-392-6089 for the in-

terest rate(s) for a particular quarter(s). Willful evasion of

Line 10. Amount overpaid to be refunded. To have the

taxes is a felony punishable by a fine of up to $100,000

over payment refunded, enter the entire overpayment

($500,000 for corporations), or imprisonment of up to

amount in line 10. If you choose to claim a refund in line

five years, or both. Willful failure to collect and pay over

10, you cannot claim a credit in line 9.

taxes is also a felony and is punishable by a fine of up to

Note: You cannot file more than one period on a single

$10,000, or imprisonment of up to five years, or both.

return.

Any one who signs a return or statement under the pen -

alties of perjury that he/she does not believe to be true

Form M-941 - Instructions For Tax Return Of Income Taxes Withheld - 2015 Page 2

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