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Calendar Year

Month

Lines for dates wages were paid

Enter the calendar year that applies to the quarter checked.

1 (January)

lines 6 and 20

2 (February)

lines 3 and 17

Check the Box for the Quarter

3 (March)

lines 3, 17, and 31

Under Report for this Quarter at the top of Schedule B, check the

appropriate box of the quarter for which you’re filing this

Example 3. Employer C is a new business and monthly

schedule. Make sure the quarter checked on the top of the

schedule depositor for 2017. Employer C paid wages every

Schedule B matches the quarter checked on your Form 941 or

Friday and accumulated a $2,000 employment tax liability on

Form 941-SS.

01/13/17. On 01/20/17, and on every subsequent Friday during

2017, Employer C accumulated a $110,000 employment tax

Enter Your Tax Liability by Month

liability. Under the deposit rules, employers become semiweekly

Schedule B is divided into the 3 months that make up a quarter

schedule depositors on the day after any day they accumulate

of a year. Each month has 31 numbered spaces that correspond

$100,000 or more of employment tax liability in a deposit period.

to the dates of a typical month. Enter your tax liabilities in the

Employer C became a semiweekly schedule depositor on

spaces that correspond to the dates you paid wages to your

01/21/17, because Employer C had a total accumulated

employees, not the date payroll deposits were made.

employment tax liability of $112,000 on 01/20/17. For more

information, see section 11 of Pub. 15 or section 8 of Pub. 80.

For example, if your payroll period ended on December 31,

2016, and you paid the wages for that period on January 6,

Employer C must complete Schedule B as shown below and

2017, you would:

file it with Form 941 or 941-SS.

Go to Month 1 (because January is the first month of the

quarter), and

Month

Lines for dates wages were paid

Amount to report

Enter your tax liability on line 6 (because line 6 represents

1 (January)

line 13

$2,000

the sixth day of the month).

1 (January)

lines 20, 27

$110,000

Make sure you have checked the appropriate box in Part

2 (February)

lines 3, 10, 17, and 24

$110,000

2 of Form 941 or Form 941-SS to show that you’re a

3 (March)

lines 3, 10, 17, 24, and 31

$110,000

TIP

semiweekly schedule depositor.

Correcting Previously Reported Tax Liability

Total Liability for the Quarter

Semiweekly schedule depositors. If you’ve been assessed

To find your total liability for the quarter, add your monthly tax

an FTD penalty for a quarter and you made an error on

liabilities.

Schedule B and the correction won’t change the total liability for

the quarter you reported on Schedule B, you may be able to

Tax Liability for Month 1

reduce your penalty by filing a corrected Schedule B.

+Tax Liability for Month 2

Example. You reported a liability of $3,000 on day 1 of

+Tax Liability for Month 3

month 1. However, the liability was actually for month 3. Prepare

Total Liability for the Quarter

an amended Schedule B showing the $3,000 liability on day 1 of

month 3. Also, you must enter the liabilities previously reported

Your total liability for the quarter must equal line 12 on Form 941 or Form

for the quarter that didn’t change. Write “Amended” at the top of

941-SS.

Schedule B. The IRS will refigure the penalty and notify you of

any change in the penalty.

Monthly schedule depositors. You can file a Schedule B if

Example 1. Employer A is a semiweekly schedule depositor

you have been assessed an FTD penalty for a quarter and you

who pays wages for each month on the last day of the month.

made an error on the monthly tax liability section of Form 941.

On December 24, 2017, Employer A also paid its employees

When completing Schedule B, only enter the monthly totals. The

year-end bonuses (subject to employment taxes). Employer A

daily entries aren’t required.

must report employment tax liabilities on Schedule B for the 4th

quarter (October, November, December), as follows.

Where to file. File your amended Schedule B at the address

provided in the penalty notice you received. You don’t have to

submit your original Schedule B.

Month

Lines for dates wages were paid

1 (October)

line 31 (pay day, last day of the month)

Form 941X

2 (November)

line 30 (pay day, last day of the month)

3 (December)

line 24 (bonus paid December 24, 2017)

Tax decrease. If you’re filing Form 941-X for a quarter, you can

3 (December)

line 31 (pay day, last day of the month)

file an amended Schedule B with Form 941-X if both of the

following apply.

1. You have a tax decrease.

Example 2. Employer B is a semiweekly schedule depositor

who pays employees every other Friday. Employer B

2. You were assessed an FTD penalty.

accumulated a $20,000 employment tax liability on each of

File your amended Schedule B with Form 941-X. The total

these pay dates: 01/06/17, 01/20/17, 02/03/17, 02/17/17,

liability for the quarter reported on your corrected Schedule B

03/03/17, 03/17/17, and 03/31/17. Employer B must report

must equal the corrected amount of tax reported on Form 941-X.

employment tax liabilities on Schedule B as follows.

If your penalty is decreased, the IRS will include the penalty

decrease with your tax decrease.

Tax increase — Form 941X filed timely. If you’re filing a

timely Form 941-X, don’t file an amended Schedule B, unless

you were assessed an FTD penalty caused by an incorrect,

Instructions for Schedule B (Form 941) (Rev. 12017)

Instructions For Schedule B (Form 941) - Report Of Tax Liability For Semiweekly Schedule Depositors - 2017 Page 2

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