Instructions For Form 941-Ss - Employer'S Quarterly Federal Tax Returnamerican Samoa, Guam, The Commonwealth Of The Northern Mariana Islands, And The U.s. Virgin Islands - 2010 Page 5
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8See $100,000 Next-Day Deposit Rule in section 8 of
4. If no wages, tips, and other
TIP
Pub. 80 (Circular SS) if you have taxes of $100,000
compensation are subject to social security
or more accumulated on any day during the deposit
or Medicare tax . . .
period.
If no wages, tips, and compensation are subject to social
security or Medicare tax, check the box on line 4. If this
How Must You Deposit Your Taxes?
question does not apply to you, leave the box blank. For
more information about exempt wages, see section 12 of
You may have to deposit both the employer and employee
Pub. 80 (Circular SS) and section 4 of Pub. 15-A.
social security taxes and Medicare taxes. If your total taxes
after adjustments (line 8) are:
If you are a government employer, wages you pay
•
Less than $2,500 for the current quarter or the
!
are not automatically exempt from social security
preceding quarter, and you did not incur a $100,000
and Medicare taxes. Your employees may be
CAUTION
next-day deposit obligation during the current quarter.
covered by law or by a voluntary Section 218 Agreement
You do not have to make a deposit. To avoid a penalty, you
with the SSA. For more information, see Pub. 963,
must pay the amount in full with a timely filed return or you
Federal-State Reference Guide.
must deposit the amount timely. However, if your taxes for
the preceding quarter were less than $2,500, you are unsure
5. Taxable social security and Medicare
whether you will incur a $100,000 next-day deposit
wages and tips
obligation in the current quarter, and you are unsure your
taxes will be less than $2,500 for current quarter, deposit
5a. Taxable social security wages. Report the total
your taxes using the appropriate rules (above) to avoid
wages, sick pay, and fringe benefits subject to social
failure to deposit penalties.
security taxes that you paid to your employees during the
•
$2,500 or more for the current quarter and the
quarter. For this purpose, sick pay includes payments made
preceding quarter. You must deposit your taxes by using
by an insurance company to your employees for which you
EFTPS or by depositing them at a financial institution that is
received timely notice from the insurance company. See
authorized to accept federal tax deposits (that is, authorized
section 6 in Pub. 15-A for more information about sick pay
depository) with Form 8109, Federal Tax Deposit Coupon.
reporting.
See section 8 of Pub. 80 (Circular SS).
Enter the amount before deductions. Do not include tips
You may reduce your deposits during the quarter by the
on this line. For information on types of wages subject to
social security taxes, see section 4 of Pub. 80 (Circular SS).
amount of COBRA premium assistance payments reported
on line 12a. See the instructions for line 12a on page 5.
The rate of social security tax on taxable wages is 6.2
percent (.062) each for the employer and employee or 12.4
EFTPS is an easy, safe, and convenient way for all
percent (.124) for both. Stop paying social security tax on
TIP
employers to make their tax deposits. Using EFTPS
and reporting an employee’s wages on line 5a when the
helps eliminate errors commonly made on federal tax
employee’s taxable wages (including tips) reach $106,800
deposit (FTD) coupons. Some taxpayers are required to
during 2010. However, continue to withhold Medicare taxes
use EFTPS to deposit their taxes. See section 8 of
for the whole year on wages and tips even when the social
Pub. 80 (Circular SS) for details.
security wage base of $106,800 has been reached.
line 5a (column 1)
x
.124
Specific Instructions:
line 5a (column 2)
Part 1: Answer these questions for
5b. Taxable social security tips. Enter all tips your
employees reported to you during the quarter until the total
this quarter.
of the tips and wages for an employee reach $106,800 in
2010. Do this even if you were unable to withhold the
Employers in American Samoa, Guam, the Commonwealth
employee tax of 6.2%.
of the Northern Mariana Islands, and the U.S. Virgin Islands
An employee must report cash tips to you, including tips
are not required to complete lines 2, 3, 6, 9, 10, and 16.
you paid the employee for charge customers, totaling $20 or
more in a month by the 10th of the next month. Employees
1. Number of employees who received
may use Form 4070, Employee’s Report of Tips to Employer
wages, tips, or other compensation for the
(available only in Pub. 1244, Employee’s Daily Record of
pay period including:
Tips and Report to Employer), or submit a written statement
or electronic tip record.
Enter the number of employees on your payroll for the pay
period including March 12, June 12, September 12, or
Do not include allocated tips on this line. Instead, report
December 12 for the quarter indicated at the top of the
them on Form 8027, Employer’s Annual Information Return
return. Do not include:
of Tip Income and Allocated Tips. Allocated tips are not
•
Household employees,
reportable on Form 941-SS and are not subject to social
•
Employees in nonpay status for the pay period,
security or Medicare taxes.
•
Farm employees,
•
Pensioners, or
line 5b (column 1)
•
Active members of the Armed Forces.
x
.124
line 5b (column 2)
If you enter “250” or more on line 1, you must file
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Forms W-2 electronically. For details, call the SSA at
5c. Taxable Medicare wages and tips. Report all
1-800-772-6270 or visit SSA’s Employer W-2 Filing
wages, tips, sick pay, and taxable fringe benefits that are
Instructions & Information website at
subject to Medicare tax. Unlike social security wages, there
is no limit on the amount of wages subject to Medicare tax.
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