Instructions For Form 941-X - Adjusted Employer'S Quarterly Federal Tax Return Or Claim For Refund - 2017 Page 8
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
139. Taxable Social Security Tips
line 10 (column 1)
- line 10 (column 2)
The 2011 and 2012 employee tax rate for social
line 10 (column 3)
If the amount in column 2 is larger than the amount
security was 4.2%.
!
in column 1, use a minus sign in column 3.
CAUTION
If you are correcting the taxable social security tips you reported
on Form 941, line 5b, column 1, enter the total corrected amount
in column 1. In column 2, enter the amount you originally
Multiply the amount in column 3 by .029 (2.9% tax rate) and
reported or as previously corrected. In column 3, enter the
enter that result in column 4.
difference between columns 1 and 2.
line 10 (column 3)
line 9 (column 1)
x .029
- line 9 (column 2)
line 10 (column 4)
If the amount in column 3 used a minus sign, also
line 9 (column 3)
If the amount in column 2 is larger than the amount
use a minus sign in column 4.
in column 1, use a minus sign in column 3.
Note. If you are correcting only the employer share of tax on a
Multiply the amount in column 3 by .124 (.104 for corrections
decrease to Medicare wages and tips, use .0145 (1.45%) when
to a 2011 or 2012 return) and report that result in column 4.
multiplying the amount in column 3. If you are correcting both
shares of tax for some employees and only the employer share
line 9 (column 3)
for other employees, enter the properly calculated amount in
column 4. Be sure to explain your calculations on line 23.
x .124
(Use .104 for corrections to a 2011 or 2012 return.)
line 9 (column 4)
If the amount in column 3 used a minus sign, also
Example—Medicare wages and tips decreased.
use a minus sign in column 4.
Following Example—Wages, tips, and other compensation
decreased in the instructions for line 6, the wages that you
counted twice were also taxable Medicare wages and tips. To
correct the error, figure the difference on Form 941-X as shown.
Note. If you are correcting only the employer share of tax on a
decrease to social security tips, use .062 (6.2%) when
multiplying the amount shown in column 3. If you are correcting
Column 1 (corrected amount)
7,000.00
both shares of tax for some employees and only the employer
Column 2 (Form 941, line 5c, column 1)
- 9,000.00
share for other employees, report the properly calculated
Column 3 (difference)
-2,000.00
amount in column 4. Be sure to show your calculations on
line 23.
Use the difference in column 3 to determine your tax
Example—Social security tips increased. Following the
correction.
Example—Wages, tips, and other compensation increased in
the instructions for line 6, the tips that you overlooked were also
taxable social security tips. To correct the error, figure the
Column 3 (difference)
-2,000.00
difference on Form 941-X as shown.
Tax rate (2.9%)
x .029
Column 4 (tax correction)
-58.00
Column 1 (corrected amount)
10,000.00
Column 2 (Form 941, line 5b, column 1)
- 9,000.00
Be sure to explain the reasons for this correction on line 23.
Column 3 (difference)
1,000.00
11. Taxable Wages and Tips Subject to
Additional Medicare Tax Withholding
Use the difference in column 3 to determine your tax
correction.
Generally, you may correct errors to Additional Medicare Tax
withholding only if you discovered the errors in the same
Column 3 (difference)
1,000.00
calendar year the wages and tips were paid to employees.
Tax rate (12.4%)
x .124
However, you may correct errors to Additional Medicare Tax
withholding for prior years if the amount reported on Form 941,
Column 4 (tax correction)
124.00
line 5d, column 2, does not agree with the amount you actually
withheld. This type of error is an administrative error. You may
also correct errors to Additional Medicare Tax withholding for
Be sure to explain the reasons for this correction on line 23.
prior years if section 3509 rates apply. If section 3509 rates
Note. If the example above was for a correction to a 2011 or
apply, see the instructions for line 17.
2012 return, the amount in column 3 would be multiplied by .104.
If a prior year error was a nonadministrative error, you may
10. Taxable Medicare Wages and Tips
correct only the wages and tips subject to Additional Medicare
Tax withholding that were originally reported on Form 941,
If you are correcting the taxable Medicare wages and tips you
line 5d, column 1, or previously corrected on Form 941-X. You
reported on Form 941, line 5c, column 1, enter the total
cannot correct the tax reported on Form 941, line 5d, column 2.
corrected amount in column 1. In column 2, enter the amount
you originally reported or as previously corrected. In column 3,
Errors discovered in the same calendar year or prior year
enter the difference between columns 1 and 2.
administrative errors. If you are correcting the taxable wages
and tips subject to Additional Medicare Tax withholding that you
reported on Form 941, line 5d, column 1, enter the total
corrected amount in column 1. In column 2, enter the amount
-8-
Instructions for Form 941-X (Rev. 4-2015)
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial