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 - 2006 Page 3
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2
3
4
5
6•
Leave blank any data field (except lines 1 or 8) with a
See section 8 of Pub. 80 (Circular SS) for information and
value of zero.
rules concerning federal tax deposits and to determine your
•
Use a minus sign to show negative amounts.
status as a monthly or semiweekly depositor.
•
Enter your name and EIN on all pages and attachments.
(Filers using the IRS-preaddressed Form 941-SS are not
required to enter their name and EIN on page 2.)
Specific Instructions:
Penalties and Interest
Part 1: Answer these questions for
There are penalties for filing a return late and paying or
depositing taxes late, unless reasonable cause is shown for
this quarter.
the delay. If you file or pay late, attach an explanation to
your return.
There are also penalties for failure to (a) furnish Forms
1. Number of employees who received
W-2AS, W-2GU, W-2CM, or W-2VI to employees and file
wages, tips, or other compensation for the
copies with the SSA and (b) deposit taxes when required. In
pay period including:
addition, there are penalties for willful failure to file returns
and pay taxes when due and for filing false returns or
Tell us the number of employees on your payroll for the pay
submitting bad checks. See Pub. 80 (Circular SS) for
period including March 12, June 12, September 12, or
additional information.
December 12 for the quarter indicated at the top of the
return. Do not include:
Interest is charged on taxes paid late at the rate set by
•
household employees,
law.
•
employees in nonpay status for the pay period,
•
A trust fund recovery penalty may apply if social
pensioners, or
!
•
security and Medicare taxes that must be withheld
active members of the Armed Forces.
are not withheld or are not paid. Under this penalty,
CAUTION
If you enter “250” or more on line 1, you must file Forms
certain officers or employees of a corporation, employees of
W-2 electronically. For details, call the SSA at
a sole proprietorship, or certain members or employees of a
1-800-772-6270 or visit SSA’s Employer Reporting
partnership become personally liable for payment of the
Instructions and Information website at
taxes and are penalized an amount equal to the unpaid
gov/employer.
taxes. See section 8 of Pub. 80 (Circular SS) for details.
4. If no wages, tips, and other
Reconciliation of Forms 941-SS and W-3SS
compensation are subject to social security
Certain amounts reported on your four quarterly Forms
941-SS for 2006 should agree with your Form W-2AS,
or Medicare tax . . .
W-2GU, W-2CM, or W-2VI totals reported on your 2006
If no wages, tips, and compensation are subject to social
Form W-3SS, Transmittal of Wage and Tax Statements, or
security or Medicare tax, check the box on line 4. If this
with information filed with the SSA on equivalent electronic
question does not apply to you, leave the box blank. For
reports. The amounts that should agree are: social security
more information about exempt wages, see section 12 of
wages, social security tips, and Medicare wages and tips. If
Pub. 80 (Circular SS) and section 4 of Pub. 15-A,
the totals do not agree, the IRS or SSA may require you to
Employer’s Supplemental Tax Guide.
explain any differences and correct any errors.
If you are a government employer, wages that you
Adjustment of Tax on Tips
!
pay are not automatically exempt from social security
If, by the 10th of the month after the month you received an
and Medicare taxes. Your employees may be
CAUTION
employee’s report on tips, you do not have enough
covered by law or by a voluntary Section 218 Agreement
employee funds available to withhold the employee’s share
with SSA. For more information, see Pub. 963,
of social security and Medicare taxes, you no longer have to
Federal-State Reference Guide.
collect it. Report the entire amount of these tips on lines 5b
5. Taxable social security and Medicare
(Taxable social security tips) and 5c (Taxable Medicare
wages and tips). Include as an adjustment on line 7c the
wages and tips
total uncollected employee share of the social security and
5a. Taxable social security wages. Report the total
Medicare taxes.
wages, sick pay, or fringe benefits subject to social security
taxes that you paid to your employees during the quarter.
When and How Must You Deposit
For this purpose, sick pay includes payments made by an
Your Taxes?
insurance company to your employees for which you
received timely notice from the insurance company. See
section 6 in Pub. 15-A for more information about sick pay
You may pay the taxes with Form 941-SS instead of
reporting.
depositing if your total taxes after adjustments for the
quarter (line 8) are less than $2,500 and you pay in full with
Enter the amount before deductions. Do not include tips
a timely filed return.
on this line. For information on types of wages subject to
social security taxes, see section 4 of Pub. 80 (Circular SS).
If your total taxes after adjustments (line 8) are $2,500 or
more for the quarter, you must deposit your tax liabilities at
The rate of social security tax on taxable wages is 6.2
an authorized financial institution with Form 8109, Federal
percent (.062) each for the employer and employee or 12.4
Tax Deposit Coupon, or by using the Electronic Federal Tax
percent (.124) for both. Stop paying social security tax on
Payment System (EFTPS).
and reporting an employee’s wages on line 5a when the
To get more information or to enroll in EFTPS, you may
employee’s taxable wages (including tips) reach $94,200
call 1-800-555-4477 (or 720-332-3780 for territories unable
during 2006. However, continue to withhold Medicare taxes
to use the toll-free numbers) or visit the EFTPS website at
for the whole year on wages and tips even when the social
security wage base of $94,200 has been reached.
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