Form 941-Ss Instructions - Employer'S Quarterly Federal Tax Return (American Samoa, Guam, The Commonwealth Of The Northern Mariana Islands, And The U.s. Virgin Islands) - 2008 Page 6
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7“Total liability for the quarter” shown on Schedule B (Form
941).
Part 2: Tell us about your deposit
schedule and tax liability for this
If you are a semiweekly depositor, you must
!
complete Schedule B (Form 941). If you fail to
quarter.
complete and submit Schedule B (Form 941), IRS
CAUTION
will assert deposit penalties based on available information.
15. Check one:
11. Total deposits for this quarter...
•
If line 8 is less than $2,500, check the appropriate box in
Enter your deposits for this quarter, including any deposits
line 15 and go to Part 3.
that you were required to make to cover prior period
•
If you reported $50,000 or less in taxes during the
liabilities resulting from adjustments shown on line 7. Also
lookback period (see below), you are a monthly schedule
include in the amount shown any overpayment from a
depositor unless the $100,000 Next-Day Deposit Rule
previous period that you applied to this return.
discussed in section 8 of Pub. 80 (Circular SS) applies.
Check the appropriate box on line 15 and enter your tax
12. Balance Due
liability for each month in the quarter. Add the amounts for
each month. Enter the result in the Total liability for quarter
If line 8 is more than line 11, write the difference in line 12.
box.
Otherwise, see Overpayment below.
Note that your total tax liability for the quarter must equal
You do not have to pay if line 12 is under $1.
your total taxes shown on line 8. If it does not, your tax
Generally, you should have a balance due only if your total
deposits and payments may not be counted as timely.
taxes for the quarter (line 8) are less than $2,500. However,
You are a monthly schedule depositor for the calendar
see section 8 of Pub. 80 (Circular SS) for information about
year if the amount of your Form 941-SS taxes reported for
payments made under the Accuracy of Deposits Rule.
the lookback period is $50,000 or less. The lookback
period is the four consecutive quarters ending on June 30
You may pay the amount shown on line 12 using EFTPS,
of the prior year. For 2008, the lookback period begins July
a credit card, a check or money order, or electronic funds
1, 2006, and ends June 30, 2007. For details on the deposit
withdrawl (EFW). Do not use a credit card or EFW to pay
rules, see section 8 of Pub. 80 (Circular SS). If you filed
taxes that were required to be deposited. For more
Form 944-SS in either 2006 or 2007, your lookback period is
information on paying your taxes with a credit card or EFW
the 2006 calendar year.
visit the IRS website at and click on the
electronic IRS link.
This is a summary of your monthly tax liability, not a
!
summary of deposits you made. If you do not
If you pay by EFTPS or credit card, file your return using
properly report your liabilities when required or if you
CAUTION
the “Form 941-SS without payment” address on page 2
are a semiweekly schedule depositor and report your
under Where Should You File? and do not file Form
liabilities on line 15 instead of on Schedule B (Form 941),
941-V(SS), Payment Voucher.
you may be assessed an “averaged” failure-to-deposit (FTD)
penalty. See Deposit Penalties in section 8 of Pub. 80
If you pay by check or money order, make it payable to
(Circular SS) for more information.
the United States Treasury. Enter your EIN, Form 941-SS,
•
If you reported more than $50,000 of taxes for the
and the tax period on your check or money order. Complete
lookback period (see above), you are a semiweekly
Form 941-V(SS) and enclose with Form 941-SS.
schedule depositor. Check the appropriate box on line 15.
If line 8 is $2,500 or more and you have deposited all
You must complete the Schedule B (Form 941) and
taxes when due, the balance due on line 12 should be zero.
submit it with your Form 941-SS. Do not use Schedule B
(Form 941) if you are a monthly schedule depositor.
If you do not deposit as required and instead pay the
!
Reporting adjustments on line 15. If your tax liability for
taxes with Form 941-SS, you may be subject to a
any month is negative (for example, if you are adjusting an
penalty.
CAUTION
overreported liability in a prior period), do not enter a
negative amount for the month. Instead, enter zero for the
13. Overpayment
month and subtract that negative amount from your tax
If line 11 is more than line 8, write the difference in line 13.
liability for the next month.
Never make an entry in both lines 12 and 13.
Here’s an example:
If you deposited more than the correct amount for a
quarter, you can choose to have the IRS either refund the
Pine Co. discovered on February 6, 2008, that it
overpayment or apply it to your next return. Check the
overreported social security tax on a prior quarter return by
appropriate box in line 13. If you do not check either box, we
$2,500. Its Form 941-SS taxes for the first quarter of 2008
will automatically refund the overpayment. We may apply
were:
your overpayment to any past due tax account that is shown
January =
$2,000
in our records under your EIN.
February =
$2,000
March =
$2,000
If line 13 is under $1, we will send a refund or apply it to
your next return only if you ask us in writing to do so.
Pine Co. reports liabilities on line 15 as follows:
Month 1 =
$2,000
Complete both pages.
Month 2 =
0
You must complete both pages of Form 941-SS and sign on
Month 3 =
+$1,500
page 2. Failure to do so may delay processing of your
Total
$3,500
return.
-6-
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