Digital IRS Form 941 (Schedule B) Sample 2017-2023

Forms 941 are used by employers and tax preparers to determine whether any person can claim a foreign tax credit for foreign tax paid. This article discusses the use of this form and what it means to you. When you file Form 941, you are only filing one application, so be diligent in completing it correctly. If the IRS finds any errors in it, they will not correct them and will send you a correction notice. How To Make Your Application You must submit Form 941. You do not need to submit other forms with your Form 941. Furthermore, you can choose to use Form 8802 (Report of Foreign Business Interested in a U.S. Trade or Business). However, make sure that neither Form 8802 nor Schedule B (which contains the foreign tax credit) is used in the application. Also, if you are filing Form 941 by paper, you will be required to use Form 941. You need to submit your Schedule B, which is filed as a separate form. You need to attach a copy of Schedule B to your Form 941. Furthermore, you also need to attach your Form 941 to the relevant Schedule B filed with your Forms 1040 (Form 1040) and Form 8849 (Form 8849). If the foreign tax paid was reported on another Form 1040 (or Form 8849, for U.S. corporations) then you do not need to file a separate form. The IRS considers only one form filed with a Schedule B to be part of the application. You can choose to file one form with the Schedule B form and one form with the Form 941 because each will be considered when calculating your foreign tax credit. You can download a free copy of our Tax-Filing page from the IRS Website. The information on our site is meant to help you make the right decisions but is no substitute for the guidance of an experienced tax professional. What Information Must You Include With Your Form 941? You only need to enter the information for the foreign tax payment you are claiming. You may enter other information if you feel confident you did all you need to fill out the entire application. Furthermore, you do not need to take the time and effort to make sure you are completely completing the application. The IRS will not consider a missing part of the application to be an error. The following is an information-gathering guide for entering your information.

All U.S. citizens and U.S. permanent residents Any foreign citizen For each individual, fill out one of the sections of Form 941 (Schedule B) If it's for each foreign citizen, write the alien number in box 2 (the 10-digit number on the foreign passport). In addition to box 2, check these boxes: (1) Country—enter “Venezuela” in this box, and write in the “Type of entry” field “Venezuelan National.” (2) Date of entry—enter the date on this form with the date on the original entry. (3) Country of last permanent departure—enter “Venezuela,” in this box. (4) Returned to me in (state name and zip code)—enter “Venezuela” in this box, and write in the “Type of entry” field “Returning to [state name and zip code].” (5) Type of return—enter the type of return here (e.g., U.S.A. Certificate of Release or Return, U.S. State Department Form 1098, or U.S. Customs and Border Protection (CBP) Form I-212) (6) Date of return—enter the date on this form with the date on the original return. If it's for each foreign citizen, and box 2 is checked, and this person is in Venezuela, enter the foreign passport number (in the country where the person last used the passport) in line 7 of the schedule. U.S. Consulate or Consular Agency, Embassy or Consulate Agency, Post Office (including post offices outside the United States), or Agency Any U.S. Embassy to Venezuela Any U.S. Consulate or Consular Agency (including post offices) in Venezuela; a Post Office (in the U.S.) A U.S. Air Force Base; a U.S. National Guard Base; or an agency not listed above Citizenship is not an issue if the person filing Form 941 has a letter or confirmation from a U.S. diplomatic mission. If an official U.S. consular mission is not available, a letter from the U.S. Department of Homeland Security that the person applying for Form 941 is a U.S.

You must file Form 941 in all quarterly tax years and in all calendar tax years. If you file before April 15, it will be accepted in June. A Schedule B will be automatically filed with your federal tax return. You must pay any taxes due based on your adjusted gross income in the year in which the Form 941 is filed. However, if you owe taxes for earlier tax years on earnings during a period of tax amnesty then you will be entitled to make these unpaid taxes a qualified small business share (USB) distribution. If you are under 19, then you may enter as USB you may use your name plus the name of a business that you manage. You make a USB by including in Schedule B items in amounts not exceeding 1/2 of your adjusted gross income. Items may include, but are not limited to, property, vehicles and interest. For more information on USB distributions, see Publication 519, Small Business Shareholder's Tax Guide or call 800:. The information on this website can be confusing. The IRS wants you to pay special attention to the special rules for Form 941 (Schedule B) and to the reporting instructions on Schedule B. The purpose of this website is to simplify filing for Form 941. It is not intended to provide comprehensive coverage of the IRS reporting requirements. You are encouraged to consult your tax advisor before filing. I have more than one small business. Do I have to file as a single person? No. The IRS recommends that the business be limited to a single taxpayer. Therefore, in most cases the business can receive only one Form 941, but you must file it and be eligible to claim a qualified small business share (USB) distributions for all years you claim to be the sole proprietor. For information on qualified small business shares, see Publication 519, Small Business Shareholder's Tax Guide. For more information, see. I am a sole proprietor. My business is doing business in my home state, but I do not get any federal income tax. Am I required to file Form 941? Yes. A sole proprietor is required to report the gross income of his or her small business on Schedule C, if it is not a partnership or S corporation.

No. Once you file a Form 941, you are not entitled to a new Form 941 until three years after the last day that is within the tax year in which the Form 941 was filed. For example, you are entitled to a new Form 941 for 2015 if you file Form 941 on April 5, 2016. You can not claim a refund for the tax year in 2014 because you are not entitled to a Form 941 until April 15, 2016. What if I receive a Form 941 in the mail before I file an I.R.S. return? In such case, you must immediately file an amended return to show the proper date of the Form 941 and the correct payment amount. If you are not a United States citizen, what are you supposed to do if this happens to you? If you receive a Form 941 in the mail, you must immediately file an amended return to show the proper date of the Form 941 and the correct payment amount. For more information and guidance on how to determine the correct date of the Form 941, see IRS Publication 966. Am I considered a resident of Puerto Rico for tax purposes for purposes of this tax information sheet? Your residence status is based on the tax treaty between Puerto Rico and the United States. Does this information sheet require reporting foreign earned income that you receive under the tax treaty when reporting to the IRS? No. This information sheet does not require reporting income derived from sources outside the United States when you file your U.S. tax return. Reporting foreign earned income under a tax treaty between the United States and a country is not an international income tax reporting requirement. Am I required to show my foreign earned income in my income tax return? No. Any foreign earned income you received under a treaty between the United States and a country is not subject to U.S. income tax. Can you tell me how to calculate I.R.C. 402? For information on the computation of your withholding allowance for Puerto Rico earned income, refer the instructions provided by the Form W-4 (Circular W-4A), Wages Earned in the United States. Is my Form 941 a U.S. tax return? No. Form 941 is a U.S. information return only for taxpayers who meet the qualifications described in IRM 25.251.8.

Schedule B returns should be filed electronically. See Publication 941, U.S. Individual Income Tax Return, for more information about filing a return electronically. The IRS maintains an electronic version of Schedule B for taxpayers who file their income tax return electronically. The IRS uses the Form 941 electronic version for taxpayer records for the period from the previous filing to the current filing. See Form 941 instructions for more information. Please note that Form 941 is designed for use only by taxpayers, and not by the U.S. SSA. Form 941 electronic records are not provided to individuals with permanent resident status. The records are only available with approval of the U.S. SSA. You must have received Form 941 in electronic form in order to use Form 940 electronic. For more information, see the form 940 instructions. For a copy of Form 940, see Forms and Publications. Does Form 941 have any penalties? Form 941 does not have any penalties. It is your responsibility to ensure that Form 941 is filed properly. If you cannot file the return on time in accordance with the instructions on the form, you will not be entitled to a refund for the taxes withheld from your wages. What if I need a Form 941 and the return I filed was due on a different date? You will need to wait until you receive a tax payment until you can file the return. If you need a form for your own records, please contact the IRS toll-free at 1¹-800-TAX-FORM (), file a paper Form 941, or obtain a copy by asking the IRS for it. You must mail the return using the mailing address provided with the return. Note: If you file a return using Form 941 and the return is returned to the employer as undeliverable, the employer must report to the IRS the tax withheld from your wages on the employer's tax return. The employee must report the wages withheld on the employee's return. You are not responsible for the employer's tax return if its contents are incorrect upon the return's return, except for incorrect information reported by you that was corrected before the return's return was mailed. As the employer, you must withhold taxes on a withheld amount that corresponds with the applicable tax rate and pay taxes on those withheld amounts to the appropriate withholding agent or government.

You can get the Schedule B form from us and then attach it to a tax return (with the correct form we give you, of course!) or you can order one from us here. If we've got the Form 941 in hand when you send it in, we will send a Form 941 directly to you. You'll send the complete form to us, then we'll send it back to you when we receive it or next business day. How can I get the Schedule K? You can order the Schedule K form here. Once we receive your form, you'll mail it in, and we'll send a Schedule K to you. Who else can I contact for more information and/or to order a schedule? The IRS has a number of tax publications and resources that you can find on the IRS Tax Pages website, in our Tax Guides section in the print IRS publications section (or by clicking on a tax guide link). The IRS also has information on the various types of tax returns you can file, including the various taxes you can request, and some information about your return and how to prepare it. What is Form 941 and Form 941-A? Form 941 is a form that shows that you've been a resident of the United States and the state in which you filed (or are planning to file) tax returns. Form 941-A is another version of Form 941 that shows information about your nonresidents' income and tax withholding during the period for which the form is filed.

All attachments on your Form 941 (Schedule B) are to be submitted electronically to our office at. All attachments will be available during business hours. Where do I provide a phone number to file my Form 941 (Schedule B)? If you already have a business number, you may use that number to file your Form 941 (Schedule B). If not, you must supply us with your business number. When you provide your phone number to the IRS to file your Form 941 (Schedule B), we must know your business number. The phone number will be verified with the U.S. Postal Service. Can I use my personal phone number to file my Form 941 (Schedule B)? You can use your personal phone number (that is not associated with a business organization) only for the purpose of filing your Schedule B. We will contact you when you request a phone call to verify a telephone number you have provided. Can I use my home number to file my Form 941 (Schedule B)? Business owners/persons with a business location must provide a business number or residential address when filing Form 941 (Schedule B), which we would then notify the IRS about. See How do I submit my Form 941 (Schedule B) electronically? Can I use my personal social security number (SSN) to file my Form 941 (Schedule B)? You can use your personal, taxpayer identification number, social security number (SSN), or any combination thereof to file your Form 941 (Schedule B).

Schedule B Form 941, Form 941-EZ, Form 941-PF 941Q Form 941Q The information on this page is for general information purposes only and is not intended to be a substitute for any tax information that you should obtain from the Internal Revenue Service. The information on this page may not be current and subject to change. The information, including estimates, could be wrong or misleading and is not intended to be a basis for tax decisions You don't have to file Form 941 if: There is no tax liability, because your tax situation was no more or less than would be allowed under the laws or regulations. Your tax situation is similar to that of the person who reported the earnings on Form 941. Your taxable gain on the sale of the stock is less than 75,000 (200,000 for married taxpayers filing a joint return). If you claim a tax deduction for the amount you spend on capital assets in the sale of the stock, you can complete Schedule B: In addition, some people also prefer to complete Schedule B. If you have completed a Schedule B (and want to claim a tax deduction for the amount you spend on capital assets in the sale of the stock), you might ask a licensed tax preparer to complete it for you. You have the option to claim the tax deduction during the year that the capital gains tax return is filed or after that. If you choose to file a tax return, and you're the one who spent the money for the stock, you must attach a copy of Forms W-2 or 1099.pdf to the form 941. The tax deduction is based on the difference between the fair market value of the stock and the amount of gain that you realize. The amount of gain to be reported must be reported as a capital gain. The IRS will let you know if you don't need to file a tax return on Schedule B (and if you need to file a return anyway). See Publication 970 for more information. I've just bought the stock, but didn't sell it.

How many people claim a deduction? And how many people pay income tax? This chart highlights the top 10 sources of IRS income in 2011, and in the most recent annual filing cycle. (This data includes all filers for whom the year of filer is known, and all filers for whom the income data are published.) In 2011, 1,058,000,000 in total IRS income was claimed for 9,800,000 families with children, according to the IRS, with 1,020,000,000 (95% of the total) coming from the 7,900,000 families who claimed a deduction. The remaining 5,400,000 taxpayers paid tax on 630,000,000 in income. How do many people fill out Form 941 (Schedule B)? Total tax credits and total income tax paid were both published by the IRS annually for 2011, but since 2008, the data are only published annually for filers who file Form 941. (See the IRS publication table for a breakdown of the tax returns by form.) The data are published each year for individuals and family groups filing separately. How many people claim a deduction on their income tax return? In 2011, the U.S. Department of the Treasury publishes a table of the 10 states with the highest percentage of taxpayers claiming a federal income tax deduction. Here, the top 10 states with the highest percentage of income taxpayers claiming a deduction are Florida, Texas, Arizona, Pennsylvania, New York, Missouri, Michigan, Alabama, Indiana and Indiana. Which tax filers earn the most in real dollars? As shown in the chart below, the top 10 percent of all filers in 2011 earned 20.8% of all adjusted gross income, according to Internal Revenue Service data for 2011. The 10th percentile earned 22.6%, and the 99th percentile earned 29.

If a taxpayer was required to file an amended return within 5 years of filing his/her initial or subsequent return, an amended return was required to be filed by the due date listed on the original return. If Form 941 was required to be filed by the due date listed on the original returns, then Forms 941-OID and 941-AID are not considered filed on the due date for filing, even if they were due during the specified time period. For further information regarding the due date for Form 941 (Schedule B), see Form 941 and Notice 2009-10. Do I need to file Form 941 if my business was subject to an examination or investigation? If you were subject to a business audit or examination, the results of your audit, examination, or investigation affect you, your partners, and, if applicable, your employees and former partners (but see Question 14). If you filed your original return timely and your return is not affected by an audit or examination, then the examination or examination results need not be considered when calculating a new income tax liability. How do I prepare Form 941? When filing Form 941, you must: File Form 941 with your income tax return, Form 1040, Form 1040A, or Form 2555 if your business' net earnings and losses were audited or investigated and these results are being used to create the net operating loss deductions. Use Form 941 to deduct any income that you claim is unrelated business taxable income if any of the following conditions apply: The income from your business is not taxable to you or to your partners or the partners of your partners for purposes of the business' gross income for the tax year that you file a return of income for, and you are an individual or a partnership, or for purposes of the net income of your partnership for the year that you file your return of partnership income for, and you are an individual or a partnership; The tax on income from your business is more than 2 times the amount of income that is unrelated business taxable income, or The IRS, in conjunction with the Federal Bureau of Investigation, is investigating your business, and you are the subject or subject of an audit, investigation, or criminal or civil investigation.