Publication 80 - Federal Tax Guide (Circular Ss) - Internal Revenue Service - 2012 Page 13
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252001-58 on page 579 of Internal Revenue Bulletin 2001-50
(Form 941) in the lines that represent the dates you
at
paid your employees.
•
Verify that your total liability shown on Form 941-SS,
Example. Cedar, Inc. is required to make a deposit of
line 16, or the bottom of Schedule B (Form 941)
$1,000 on June 15 and $1,500 on July 15. It does not make
equals your tax liability shown on Form 941-SS,
the deposit on June 15. On July 15, Cedar, Inc. deposits
line 10.
$2,000. Under the deposits rule, which applies deposits to
•
the most recent tax liability, $1,500 of the deposit is applied
Do not show negative amounts on Form 941-SS,
to the July 15 deposit and the remaining $500 is applied to
line 16, or Schedule B (Form 941).
the June deposit. Accordingly, $500 of the June 15 liability
•
For prior period errors, do not adjust your tax liabili-
remains undeposited. The penalty on this underdeposit will
ties reported on Form 941-SS, line 16, or on Sched-
apply as explained above.
ule B (Form 941). Instead, file an adjusted return
(Form 941-X or 944-X) if you are also adjusting your
Trust fund recovery penalty. If federal income, social
tax liability. If you are only adjusting your deposits in
security, and Medicare taxes that must be withheld are not
response to a failure-to-deposit penalty notice, see
withheld or are not deposited or paid to the United States
the Instructions for Schedule B (Form 941) or the
Treasury, the trust fund recovery penalty may apply. The
Form 945-X instructions (for Form 944-SS).
penalty is the full amount of the unpaid trust fund tax. This
penalty may apply to you if these unpaid taxes cannot be
immediately collected from the employer or business.
If you filed Form 944-SS for 2011 and line 7 was
!
$2,500 or more, you were required to complete
The trust fund recovery penalty may be imposed on all
Form 944-SS, lines 13a–13m, or attach Form
persons who are determined by the IRS to be responsible
CAUTION
945-A, Annual Record of Federal Tax Liability. If you failed
for collecting, accounting for, and paying over these taxes,
to complete lines 13a–13m, or failed to attach Form
and who acted willfully in not doing so.
945-A, whichever was required, IRS may assess an “aver-
A responsible person can be an officer or employee of
aged” failure-to-deposit (FTD) penalty.
a corporation, a partner or employee of a partnership, an
accountant, a volunteer director/trustee, or an employee of
a sole proprietorship, or any other person or entity that is
9. Employer’s Returns
responsible for collecting, accounting for, and paying over
trust fund taxes. A responsible person also may include
one who signs checks for the business or otherwise has
General instructions. File Form 941-SS (or Form
authority to cause the spending of business funds.
944-SS) for nonfarm workers and Form 943, for
Willfully means voluntarily, consciously, and intention-
farmworkers. (U.S. Virgin Islands employers may be re-
ally. A responsible person acts willfully if the person knows
quired to file Form 940 for the combined wages of nonfarm
the required actions are not taking place.
workers and farmworkers.)
“Averaged” failure-to-deposit penalty. The IRS may
Employers with employees subject to U.S. income tax
assess an “averaged” failure-to-deposit (FTD) penalty of
withholding. If you have both employees who are subject
2% to 10% if you are a monthly schedule depositor and did
to U.S. income tax withholding and employees who are not
not properly complete Form 941-SS, line 16, when your tax
subject to U.S. income tax withholding, you must file only
liability shown on Form 941-SS, line 10, was $2,500 or
Form 941 (or Form 944) and include all your employees’
more. IRS may also assess this penalty of 2% to 10% if you
wages on that form.
are a semiweekly schedule depositor and your tax liability
Nonfarm employers. File Form 941-SS for the calendar
shown on Form 941-SS, line 10, was $2,500 or more and
quarter in which you first pay wages for nonfarm workers
you did any of the following.
and for each quarter thereafter unless you are a seasonal
•
Completed Form 941-SS, line 16, instead of Sched-
employer or file a final return. Due dates for each quarter of
ule B (Form 941).
the calendar year are as follows.
•
Failed to attach a properly completed Schedule B
Quarter
Due
(Form 941).
•
Jan., Feb., Mar. . . . . . . . . . . . . . . . . . . . . . . . . Apr. 30
Completed Schedule B (Form 941) incorrectly, for
example, by entering tax deposits instead of tax lia-
Apr., May, June . . . . . . . . . . . . . . . . . . . . . . . .
July 31
bilities in the numbered spaces.
July, Aug., Sept. . . . . . . . . . . . . . . . . . . . . . . . . Oct. 31
The IRS figures the penalty by allocating your total tax
Oct., Nov., Dec. . . . . . . . . . . . . . . . . . . . . . . . . Jan. 31
liability shown on Form 941-SS, line 10, equally throughout
However, if you deposited all taxes when due for the
the tax period. Your deposits and payments may not be
quarter, you have 10 additional days from the due dates
counted as timely because IRS does not know the actual
above to file the return. If the due date for filing your return
dates of your tax liabilities.
falls on a Saturday, Sunday, or legal holiday, you may file
You can avoid the penalty by reviewing your return
on the next business day.
before filing it. Follow these steps before filing your
If you closed your business or stopped paying wages
Form 941-SS.
and do not have to file returns in the future, check the box
•
If you are a monthly schedule depositor, report your
on line 17 of your final Form 941-SS and show the date
final wages were paid.
tax liabilities (not your deposits) in the monthly entry
spaces on Form 941-SS, line 16.
Form 944-SS. If IRS notified you to file Form 944-SS, file
•
If you are a semiweekly schedule depositor, report
your 2011 Form 944-SS by January 31, 2012, or by Febru-
your tax liabilities (not your deposits) on Schedule B
ary 10, 2012, if you deposited all taxes when due.
Publication 80 (2012)
Page 13
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