Instructions For Form 944-Ss - Employer'S Annual Federal Tax Return - American Samoa, Guam, The Commonwealth Of The Northern Mariana Islands, And The U.s. Virgin Islands - 2011 Page 5
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7adjustment that decreases the total taxes shown on line 4d.
4. Taxable Social Security and Medicare
Otherwise, use parentheses.
Wages and Tips
In certain cases, you must adjust the amounts you
4a. Taxable social security wages. Report the total
reported as social security and Medicare taxes in column 2
wages, sick pay, and fringe benefits subject to social
of lines 4a, 4b, and 4c to figure your correct tax liability for
security taxes that you paid to your employees during the
this year’s Form 944-SS. See section 9 of Pub. 80 (Circular
year.
SS).
Enter the amount before deductions. Do not include tips
If you need to adjust any amount reported on line 6 from
on this line. For information on types of wages subject to
a previously filed Form 944-SS, complete and file Form
social security taxes, see section 4 of Pub. 80 (Circular SS).
944-X. Form 944-X is filed separately from Form 944-SS.
For 2011, the rate of social security tax on taxable wages
See section 9 of Pub. 80 (Circular SS).
is 6.2% (.062) for the employer and 4.2% (.042) for the
Fractions of cents. Enter adjustments for fractions of
employee, or 10.4% (.104) for both. Stop paying social
security tax on and reporting an employee’s wages on line
cents (due to rounding) relating to the employee share of
social security and Medicare taxes withheld. The employee
4a when the employee’s taxable wages (including tips)
reach $106,800 for the year. However, continue to withhold
share of amounts shown in column 2 of lines 4a through 4c
Medicare taxes for the whole year on wages and tips even
may differ slightly from amounts actually withheld from
employees’ paychecks due to rounding social security and
when the social security wage base of $106,800 has been
reached.
Medicare taxes based on statutory rates.
Sick pay. Enter the adjustment for the employee share
line 4a (column 1)
of social security and Medicare taxes that were withheld and
x
.104
deposited by your third-party sick pay payer with regard to
line 4a (column 2)
sick pay paid by the third-party. These wages should be
4b. Taxable social security tips. Enter all tips your
included on lines 4a and 4c. If you are the third-party sick
employees reported to you during the year until the total of
pay payer, enter the adjustment for any employer share of
the tips and wages for an employee reach $106,800 for the
these taxes required to be paid by the employer.
year. Include all tips your employees reported to you even if
Adjustments for tips and group-term life insurance.
you were unable to withhold the 4.2% employee’s share of
Enter adjustments for both the following items.
social security tax.
•
Any uncollected employee share of social security and
Your employee must report cash tips to you by the 10th
Medicare taxes on tips.
day of the month after the month the tips are received. The
•
The uncollected employee share of social security and
report should include tips you paid over to the employee for
Medicare taxes on group-term life insurance premiums paid
charge customers, tips the employee received directly from
for former employees.
customers, and tips received from other employees under
any tip-sharing arrangement. Both directly and indirectly
7. Total Taxes After Adjustments
tipped employees must report tips to you. No report is
Combine the amounts shown on lines 4d and 6 and enter
required for months when tips are less than $20. Employees
may use Form 4070, Employee’s Report of Tips to
the result on line 7.
•
If line 7 is less than $2,500, you may pay the amount
Employer, available only in Pub. 1244, Employee’s Daily
with Form 944-SS because you were not required to
Record of Tips and Report to Employer, or submit a written
deposit. See section 8 of Pub. 80 (Circular SS) for
statement or electronic tip record.
information and rules about federal tax deposits.
•
line 4b (column 1)
If line 7 is $2,500 or more, you generally must deposit
x
.104
your tax liabilities by electronic funds transfer. However, if
line 4b (column 2)
you deposited all taxes accumulated in the first three
quarters of the year and your fourth quarter liability is less
4c. Taxable Medicare wages & tips. Report all
than $2,500, you may pay taxes accumulated during the
wages, tips, sick pay, and taxable fringe benefits that are
fourth quarter with a timely filed Form 944-SS. The amount
subject to Medicare tax. Unlike social security wages, there
shown on line 7 must equal the amount shown on line 13m.
is no limit on the amount of wages subject to Medicare tax.
See section 8 of Pub. 80 (Circular SS) for information and
The rate of Medicare tax is 1.45% (.0145) each for the
rules about federal tax deposits.
employer and employee, or 2.9% (.029) for both. Include all
8. Total Deposits for This Year
tips your employees reported during the year, even if you
were unable to withhold the employee tax of 1.45%.
Enter your deposits for this year, including any overpayment
that you applied from filing Form 944-X or Form 941-X in the
line 4c (column 1)
current year. Also include in the amount shown any
x
.029
overpayment from a previous period that you applied to this
line 4c (column 2)
return.
For more information, see sections 4, 5, and 7 of Pub. 80
9a. COBRA Premium Assistance Payments
(Circular SS).
4d. Total social security and Medicare taxes. Add
Report on this line 65% of the COBRA premiums for
the social security tax, social security tips tax, and Medicare
assistance eligible individuals. Take the COBRA premium
tax.
assistance credit on this line only after the assistance
eligible individual’s 35% share of the premium has been
line 4a (column 2)
paid. For COBRA coverage provided under a self-insured
line 4b (column 2)
plan, COBRA premium assistance is treated as having been
+ line 4c (column 2)
made for each assistance eligible individual who pays 35%
line 4d
of the COBRA premium. Do not include the assistance
eligible individual’s 35% of the premium in the amount
6. Current Year’s Adjustments
entered on this line. For more information on COBRA
Enter tax amounts that result from current period
premium assistance credit, visit IRS.gov and enter the
adjustments. Use a minus sign (if possible) to show an
keyword COBRA.
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