Fillable Form 945-A - Annual Record Of Federal Tax Liability (Page 4 of 4) in pdf

Form 945-A (Rev. 2-2015)

Page

Example 3. Because Elm Co. is a new business, it is a monthly

Tax increase—Form 945-X, CT-1 X, or 944-X filed timely. If you

schedule depositor at the beginning of 2014. During January, it

are filing a timely Form 945-X, CT-1 X, or 944-X showing a tax

withheld federal income tax on nonpayroll payments as follows:

increase, do not file an amended Form 945-A, unless you were

$2,000 on January 10; $99,000 on January 24. The deposit rules

assessed an FTD penalty caused by an incorrect, incomplete, or

require that a monthly schedule depositor begin depositing on a

missing Form 945-A. Do not include the tax increase reported on

semiweekly deposit schedule when a $100,000 or more tax liability

Form 945-X, CT-1 X, or 944-X on an amended Form 945-A you file.

is accumulated on any day within a month (see section 11 of Pub.

Tax increase—Form 945-X, CT-1 X, or 944-X filed late. If you

15 (Circular E) for details). Since Elm Co. accumulated $101,000

owe tax and are filing late, that is, after the due date of the return for

($2,000 + $99,000) on January 24, 2014, it became a semiweekly

the filing period in which you discovered the error, you must file the

schedule depositor on January 25, 2014. Elm Co. must complete

form with an amended Form 945-A. Otherwise, IRS may assess an

Form 945-A and file it with Form 945. It must record $2,000 on line

“averaged” FTD penalty.

10 and $99,000 on line 24 for January. No entries should be made

The total tax reported on line M of Form 945-A must match the

on Form 945, line 7, although Elm Co. was a monthly schedule

corrected tax (Form 945, line 3; Form 944, line 7; Form CT-1, line 15

depositor until January 25.

(line 13 for years before 2013); combined with any correction

Correcting Previously Reported Tax Liability

reported on Form 945-X, line 5 (Form 944-X, line 17; Form CT-1 X,

line 19) for the year, less any previous abatements and interest-free

Semiweekly schedule depositors. If you have been assessed an

tax assessments.

FTD penalty and you made an error on Form 945-A and the

correction will not change the total liability you reported on Form

Paperwork Reduction Act Notice. We ask for the information on

945-A, you may be able to reduce your penalty by filing an

this form to carry out the Internal Revenue laws of the United

amended Form 945-A.

States. You are required to give us the information. We need it to

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

ensure that you are complying with these laws and to allow us to

However, the liability was actually for March. Prepare an amended

figure and collect the right amount of tax.

Form 945-A showing the $3,000 liability on March 1. Also, you must

You are not required to provide the information requested on a

enter the liabilities previously reported for the year that did not

form that is subject to the Paperwork Reduction Act unless the form

change. Write “Amended” at the top of Form 945-A. The IRS will

displays a valid OMB control number. Books or records relating to a

refigure the penalty and notify you of any change in the penalty.

form or its instructions must be retained as long as their contents

Monthly schedule depositors. You can file Form 945-A if you have

may become material in the administration of any Internal Revenue

been assessed an FTD penalty and you made an error on the

law. Generally, tax returns and return information are confidential,

monthly tax liability section of Form 945. When completing Form

as required by Code section 6103.

945-A, only enter the monthly totals. The daily entries are not

The time needed to complete and file this form will vary

required.

depending on individual circumstances. The estimated average

Where to file. File your amended Form 945-A, or, for monthly

time is:

schedule depositors, your original Form 945-A at the address

Recordkeeping .

. 6 hr., 27 min.

provided in the penalty notice you received. If you are filing an

amended Form 945-A, you do not have to submit your original Form

Learning .

. . 6 min.

945-A.

Preparing and sending

Forms 945-X, CT-1 X, and 944-X

the form to the IRS .

. 12 min.

If you have comments concerning the accuracy of these time

Tax decrease. If you are filing Form 945-X, CT-1 X, or 944-X, you

estimates or suggestions for making this form simpler, we would be

can file an amended Form 945-A with the form if both of the

happy to hear from you. You can write to the IRS at the address

following apply.

listed in the Privacy Act Notice for your tax return.

1. You have a tax decrease.

2. You were assessed an FTD penalty.

File your amended Form 945-A with Form 945-X, CT-1 X, or

944-X. The total liability reported on your amended Form 945-A

must equal the corrected amount of tax reported on Form 945-X,

CT-1 X, or 944-X. If your penalty is decreased, the IRS will include

the penalty decrease with your tax decrease.

Form 945-A - Annual Record Of Federal Tax Liability Page 4

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