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

Form 945-A (Rev. 10-2012)

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 2012. 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, 2012, it became a semiweekly

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

schedule depositor on January 25, 2012. 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 (line 9 for years

depositor until January 25.

before 2011); Form CT-1, line 13) combined with any correction

Amending a Previously Filed Form 945-A

reported on Form 945-X, line 5 (Form 944-X, line 16 minus any

advance EIC reported on Form 944-X, line 17; Form CT-1X, line 18)

Semiweekly schedule depositors. If you have been assessed a

for the year, less any previous abatements and interest-free tax

failure-to-deposit (FTD) penalty and you made an error on Form

assessments.

945-A and the correction will not change the total liability you

reported on Form 945-A, you may be able to reduce your penalty by

filing an amended Form 945-A.

Paperwork Reduction Act Notice. We ask for the information on

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

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

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

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

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

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

figure and collect the right amount of tax.

enter the liabilities previously reported for the year that did not

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

You are not required to provide the information requested on a

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

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

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

Monthly schedule depositors. You can also file an amended Form

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

945-A if you have been assessed an FTD penalty and you made an

may become material in the administration of any Internal Revenue

error on the monthly tax liability section of Form 945. When

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

completing Form 945-A, only enter the monthly totals. The daily

as required by Code section 6103.

entries are not required.

The time needed to complete and file this form will vary

Where to file. File your amended Form 945-A at the address

depending on individual circumstances. The estimated average

provided in the penalty notice you received. You do not have to

time is:

submit your original Form 945-A.

Recordkeeping .

. 6 hr., 27 min.

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

Learning .

. . 6 min.

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

Preparing and sending

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

the form to the IRS .

. 12 min.

following apply.

If you have comments concerning the accuracy of these time

1. You have a tax decrease.

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

2. You were assessed an FTD penalty.

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

listed in the Privacy Act Notice for your tax return.

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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