Schedule B Form 941 960311 Report of Tax Liability for Semiweekly Schedule Depositors Rev. January 2017 OMB No. 1545-0029 Department of the Treasury Internal Revenue Service Employer identification number EIN Report for this Quarter. Check one. 1 January February March Name not your trade name 2 April May June Calendar year 3 July August September Also check quarter 4 October November December Use this schedule to show your TAX LIABILITY for the quarter don t use it to show your deposits. When you file this form with Form 941 or Form 941-SS don t change your tax liability by adjustments reported on any Forms 941-X or 944-X. You must fill out this form and attach it to Form 941 or Form 941-SS if you re a semiweekly schedule depositor or became one because your accumulated tax liability on any day was 100 000 or more. Write your daily tax liability on the numbered space that corresponds to the date wages were paid* See Section 11 in Pub. 15 for details. Month 1. Tax liability for Month 1 Total liability for the quarter Fill in your total liability for the quarter Month 1 Month 2 Month 3 Total must equal line 12 on Form 941 or Form 941-SS* For Paperwork Reduction Act Notice see separate instructions. Check one. 1 January February March Name not your trade name 2 April May June Calendar year 3 July August September Also check quarter 4 October November December Use this schedule to show your TAX LIABILITY for the quarter don t use it to show your deposits. When you file this form with Form 941 or Form 941-SS don t change your tax liability by adjustments reported on any Forms 941-X or 944-X. When you file this form with Form 941 or Form 941-SS don t change your tax liability by adjustments reported on any Forms 941-X or 944-X. You must fill out this form and attach it to Form 941 or Form 941-SS if you re a semiweekly schedule depositor or became one because your accumulated tax liability on any day was 100 000 or more. You must fill out this form and attach it to Form 941 or Form 941-SS if you re a semiweekly schedule depositor or became one because your accumulated tax liability on any day was 100 000 or more. Write your daily tax liability on the numbered space that corresponds to the date wages were paid* See Section 11 in Pub. Write your daily tax liability on the numbered space that corresponds to the date wages were paid* See Section 11 in Pub. 15 for details. Month 1. Tax liability for Month 1 Total liability for the quarter Fill in your total liability for the quarter Month 1 Month 2 Month 3 Total must equal line 12 on Form 941 or Form 941-SS* For Paperwork Reduction Act Notice see separate instructions. Check one. 1 January February March Name not your trade name 2 April May June Calendar year 3 July August September Also check quarter 4 October November December Use this schedule to show your TAX LIABILITY for the quarter don t use it to show your deposits. When you file this form with Form 941 or Form 941-SS don t change your tax liability by adjustments reported on any Forms 941-X or 944-X. You must fill out this form and attach it to Form 941 or Form 941-SS if you re a semiweekly schedule depositor or became one because your accumulated tax liability on any day was 100 000 or more.
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This video is how to prepare Schedule B of the 941 if you remember from the last video on page 2 of the 941 part 2 we have to mark whether we are a monthly or a semi-weekly depositor if we are a semi-weekly depositor then we must get a touch Schedule B and that's what this video is going to demonstrate for the demonstration I am using the information given in problem 3 – 15 a on page 3 - 48 of your textbook I have that information in an Excel document, so this is the information that was provided by your textbook and then for requirement a're preparing the Schedule B and I need to do some calculations before I could do that form and I have added those calculations down below here so trading the liability or calculating the liability for each one of the payrolls is done by looking at the employees FICA withholding the OAS DI portion which comes from here and then the employers portion which is calculated by taking the taxable wages times the percentage which is the same amount in this case they do not always come out to be identical but in this case they do and then the employees FICA the jaipur ssin which comes from here in the employers portion which again is the TeXes wages times the percent 1.45% and it happens to match the employees withholding for that period in this case and then the employees federal income tax withholding which came from here we add that all together and the liability for that date was six thousand nine hundred and thirty-three dollars and fifty cents that took place on January 15th so in the first month on our form on the fifteenth day we would place that liability we would do the same for the next payroll which was January 29th, and I've already done that and you can see the liability is six thousand seven hundred fifty-nine dollars and seventy cents and that took place on January 29th, so I would place that here and in the Box to the right here is just the sum of the liability for that month, so we would add these two together notice I keep emphasizing this as the liability this should also match what the company deposited but if not we are listening to liability amount not necessarily the deposit amount for the next month which is February I've calculated both of those liabilities and those payrolls took place on February 29th 15th and the 29th, so I have those listed here on the 15th and the 29th and those amounts came from here and here and in the same for March the two liabilities on the 15th and the 31st and those are placed on the 15th and the 31st we have the sum in the box for each one of the month so for February it's these two added together and.
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