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Instructions for Schedule B

Department of the Treasury

Internal Revenue Service

(Form 941)

(Rev. January 2017)

Report of Tax Liability for Semiweekly Schedule Depositors

Section references are to the Internal Revenue Code unless

Federal law also requires employers to pay any liability for the

otherwise noted.

employer's portion of social security and Medicare taxes. This

portion of social security and Medicare taxes isn’t withheld from

Future Developments

employees.

On Schedule B, list your tax liability for each day. Your liability

For the latest information about developments related to

includes:

Schedule B and its instructions, such as legislation enacted after

The federal income tax you withheld from your employees'

they were published, go to IRS.gov/form941.

pay, and

Both employee and employer social security and Medicare

What’s New

taxes.

Adjusting tax liability for the qualified small business pay

Don’t use the Schedule B to show federal tax deposits. The

roll tax credit for increasing research activities. You must

IRS gets deposit data from electronic funds transfers.

account for any qualified small business payroll tax credit for

The IRS uses Schedule B to determine if you’ve

increasing research activities that you reported on Form 941 or

deposited your federal employment tax liabilities on

Form 941-SS, line 11, when reporting your liabilities on

time. If you don’t properly complete and file your

Schedule B. The total liability for the quarter must equal Form

CAUTION

Schedule B with Form 941 or Form 941-SS, the IRS may

941 or Form 941-SS, line 12. Failure to account for the amount

propose an “averaged” FTD penalty. See Deposit Penalties in

reported on Form 941 or Form 941-SS, line 11, may cause Form

section 11 of Pub. 15 for more information.

941 or Form 941-SS, line 12, to be less than the total tax liability

reported on Schedule B. Don't reduce tax liability reported on

Who Must File?

Schedule B below zero.

File Schedule B if you’re a semiweekly schedule depositor.

Reminders

You’re a semiweekly depositor if you reported more than

$50,000 of employment taxes in the lookback period or

Reporting prior period adjustments. Prior period

accumulated a tax liability of $100,000 or more on any given day

adjustments are reported on Form 941-X, Adjusted Employer's

in the current or prior calendar year. See section 11 of Pub. 15

QUARTERLY Federal Tax Return or Claim for Refund, or Form

for more information.

944-X, Adjusted Employer's ANNUAL Federal Tax Return or

Claim for Refund, and aren’t taken into account when figuring

Don’t complete Schedule B if you have a tax liability that

the tax liability for the current quarter.

is less than $2,500 during the quarter.

When you file Schedule B with your Form 941 (or Form

CAUTION

941-SS), don’t change your tax liability by adjustments reported

When Must You File?

on any Form 941-X or 944-X.

Amended Schedule B. If you have been assessed a

Schedule B is filed with Form 941, Employer's QUARTERLY

failure-to-deposit (FTD) penalty, you may be able to file an

Federal Tax Return, or Form 941-SS, Employer's QUARTERLY

amended Schedule B. See Correcting Previously Reported Tax

Federal Tax Return (American Samoa, Guam, the

Liability, later.

Commonwealth of the Northern Mariana Islands, and the U.S.

Virgin Islands). Therefore, the due date of Schedule B is the

General Instructions

same as the due date for the applicable Form 941 or Form

941-SS.

Purpose of Schedule B

Don’t file Schedule B as an attachment to Form 944,

Employer's ANNUAL Federal Tax Return. Instead, if you’re a

These instructions tell you about Schedule B. To determine if

semiweekly schedule depositor that is required to file a report of

you’re a semiweekly schedule depositor, visit IRS.gov and type

tax liability with Form 944, use Form 945-A, Annual Record of

“semiweekly depositor” in the search box. Also see Pub. 15,

Federal Tax Liability.

Employer's Tax Guide, or Pub. 80, Federal Tax Guide for

Employers in the U.S. Virgin Islands, Guam, American Samoa,

Specific Instructions

and the Commonwealth of the Northern Mariana Islands.

Completing Schedule B

Federal law requires you, as an employer, to withhold certain

taxes from your employees’ pay. Each time you pay wages, you

must withhold - or take out of your employees’ pay - certain

Enter Your Business Information

amounts for federal income tax, social security tax, and

Medicare tax. You must also withhold Additional Medicare Tax

Carefully enter your employer identification number (EIN) and

from wages you pay to an employee in excess of $200,000 in a

name at the top of the schedule. Make sure that they exactly

calendar year. Under the withholding system, taxes withheld

match the name of your business and the EIN that the IRS

from your employees are credited to your employees in payment

assigned to your business and also agree with the name and

of their tax liabilities.

EIN shown on the attached Form 941 or Form 941-SS.

Feb 27, 2017

Cat. No. 38683X

Instructions For Schedule B (Form 941) - Report Of Tax Liability For Semiweekly Schedule Depositors - 2017

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