Instructions For Form 941-Ss - Employer'S Quarterly Federal Tax Returnamerican Samoa, Guam, The Commonwealth Of The Northern Mariana Islands, And The U.s. Virgin Islands - 2017 Page 6
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11The COBRA premium assistance credit is treated as a
Penalties and interest are charged on taxes paid late and
credit on the first day of the return period (that is, January 1,
returns filed late at a rate set by law. See section 8 of Pub. 80
April 1, July 1, or October 1). However, because the credit is
for details.
now claimed on Form 941-X filed after submission of the
Use Form 843 to request abatement of assessed
Form 941-SS, an employer that reduces its required deposits
penalties or interest. Don't request abatement of assessed
in anticipation of the credit will receive a system-generated
penalties or interest on Form 941-SS or Form 941-X.
notice reflecting a balance due and associated penalties and
interest, if applicable. The balance due, including any related
If federal income, social security, and Medicare taxes
penalties and interest, resulting from the reduction in
(that is, trust fund taxes) that must be withheld aren't
!
deposits in anticipation of the credit will be abated when the
withheld or aren't deposited or paid to the United
CAUTION
credit is applied. Such abatement will generally occur without
States Treasury, the trust fund recovery penalty may apply.
any further action from the employer.
The penalty is the full amount of the unpaid trust fund tax.
This penalty may apply to you if these unpaid taxes can't be
Alternatively, to prevent triggering a system-generated
immediately collected from the employer or business. The
balance due notice, the employer can make its deposits
trust fund recovery penalty may be imposed on all persons
without a reduction in anticipation of the COBRA premium
who are determined by the IRS to be responsible for
assistance credit and follow the ordinary procedures for filing
collecting, accounting for, or paying over these taxes, and
a claim for refund or adjusted return using Form 941-X.
who acted willfully in not doing so. For more information, see
When Must You Deposit Your Taxes?
section 8 of Pub. 80.
Determine If You’re a Monthly or Semiweekly
Adjustment of Tax on Tips
Schedule Depositor for the Quarter
If, by the 10th of the month after the month you received an
The IRS uses two different sets of deposit rules to determine
employee's report on tips, you don't have enough employee
when businesses must deposit their social security and
funds available to withhold the employee's share of social
Medicare taxes. These schedules tell you when a deposit is
security and Medicare taxes, you no longer have to collect it.
due after you have a payday.
Report the entire amount of these tips on line 5b (Taxable
social security tips), line 5c (Taxable Medicare wages and
Your deposit schedule isn't determined by how often you
tips), and, if the withholding threshold is met, line 5d (Taxable
pay your employees. Your deposit schedule depends on the
wages and tips subject to Additional Medicare Tax
total tax liability you reported on Form 941-SS during the
withholding). Include as an adjustment on line 9 the total
previous four-quarter lookback period (July 1 of the second
uncollected employee share of the social security and
preceding calendar year through June 30 of the preceding
Medicare taxes.
calendar year). See section 8 of Pub. 80 for details. If you
Where Can You Obtain Forms?
filed Form 944 in either 2015 or 2016, your lookback period is
the 2015 calendar year.
See Pub. 80 for information on ordering IRS forms. You may
Before the beginning of each calendar year, determine
also be able to get some IRS forms at the addresses listed
which type of deposit schedule you must use.
next.
If you reported $50,000 or less in taxes during the
lookback period, you’re a monthly schedule depositor.
American Samoa
Tax Office
If you reported more than $50,000 of taxes during the
Executive Office Building
lookback period, you’re a semiweekly schedule depositor.
First Floor
If you’re a monthly schedule depositor and
Pago Pago, AS 96799
accumulate a $100,000 tax liability on any day during
!
Commonwealth of the
CNMI Social Security System Administrator
the deposit period, you become a semiweekly
Northern Mariana Islands
Saipan, MP 96960
CAUTION
schedule depositor on the next day and remain so for at least
Guam
Department of Revenue and Taxation
the rest of the calendar year and for the following calendar
Government of Guam
year. See $100,000 Next-Day Deposit Rule in section 8 of
Building 13–1, Mariner Avenue
Pub. 80 for more information.
Barrigada, GU 96913
What About Penalties and Interest?
U.S. Virgin Islands
Bureau of Internal Revenue
6115 Estate Smith Bay
St. Thomas, VI 00802
Avoiding Penalties and Interest
You can avoid paying penalties and interest if you do all of
the following.
Specific Instructions:
Deposit or pay your taxes when they are due.
File your fully completed Form 941-SS on time.
Part 1: Answer These Questions for
Report your tax liability accurately.
Submit valid checks for tax payments.
This Quarter
Furnish accurate Forms W-2AS, W-2CM, W-2GU, or
W-2VI to employees.
1. Number of Employees Who Received Wages,
File Form W-3SS and Copy A of Forms W-2AS, W-2CM,
W-2GU, or W-2VI with the SSA on time and accurately.
Tips, or Other Compensation This Quarter
Enter the number of employees on your payroll for the pay
period including March 12, June 12, September 12, or
-6-
Instructions for Form 941-SS (Rev. 1-2017)
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