Every quarter your employer may need to complete a Form 941 for the Internal Revenue Service (IRS). The Form 941 is used to report federal payroll tax liability. It outlines all the withheld income taxes, including tips, wages, paid sick leave and unemployment benefits. You may be required to complete Schedule B for your 941 to report tax liability if you are a semiweekly schedule depositor or your payroll tax liability is $100,000 or more on any day in the quarter being reported.
Fill in your Employee Identification Number (EIN) in the spaces provided at the top of the page.
Write your personal name, not your trade name, on the line provided underneath your EIN.
Read More: Form 941 Penalties
Write the year for which you are filing your taxes.
Check the box for the quarter that you are reporting your taxes: Quarter 1 will be if you are filing in January, February or March; Quarter 2 will be April, May or June; Quarter 3 will be July, August or September; and Quarter 4 will cover October, November or December.
Write your daily tax liability in the box that corresponds to the date the taxes were paid. You will see boxes numbered 1 through 31. So, for example, if your tax liability was $500.00 on January 10th, the date that you paid your wages, you will locate box number 10 to correspond to the date and write in "500.00."
Repeat Step 5 for all three months in the quarter.
Calculate the total amount of tax liability for the month by adding all the reported tax liabilities in that month.
Fill in the total amount of tax liability in the box to the right for each month where it says "Month 1," "Month 2," "Month 3."
Add the tax liabilities for all three months and fill in that amount where it says "Total liability for the quarter."
Attach your completed Schedule B to your completed 941 Form when filing with the IRS.
- Contact the IRS or your professional tax advisor if you are unsure whether you need to file Schedule B with Form 941.