941 Schedule B

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The IRS Form 941 Schedule B is a tax form for the reporting of tax liability for semi-weekly pay schedules.  The employer is required to withhold federal income tax and payroll taxes from the employee’s paychecks.  The 941 form reports the total amount of tax withheld during each quarter.

Notes

  • The 941 Schedule B is available in the application for a client when:
    • The client is specified as a Semiweekly depositor in the Payroll Taxes tab of the Setup > Clients screen in the Deposit schedule.
    • The client's accumulated tax liability was $100,000 or more at any point during the quarter.
    • The client reported taxes of more than $50,000 for the lookback period.
  • To determine if a client is a semiweekly schedule depositor, visit IRS.gov and search on "semiweekly depositor”.

The application uses the amount withheld on payroll check, not the amount of liability due for each payroll, to complete the Schedule B.

Differences in the Schedule B totals and the totals on Form 941 page 1, line 12 can be caused by changes to taxability of payroll items, overrides of tax amounts added to an employee’s payroll check, or changes to Adjust Taxable Wages on payroll checks.

If the client was converted during the quarter, you may need to override information on Form 941 or 941 Schedule B to reflect the payroll on appropriate dates, rather than month-to-date summary amounts. To override information on the form, follow these steps.

  1. Choose Actions > Edit Payroll Tax Forms.
  2. In the Edit Payroll Tax Forms screen, select the appropriate client from the client drop-down list at the top of the screen (if not already selected).
  3. Select Reconciliation from the Form type drop-down list, select quarterly, and the specific year in the drop-down list.
  4. Click the Refresh button.
  5. Select the Federal Jurisdiction.
  6. Click the 941, 941(p2), or 941-Sch B form and edit any information necessary to correct the form(s).

Note: If the  Do Not File checkbox is marked for a form in the  Payroll Taxes tab, that form will not display in the Edit Payroll Tax Form screen.

The Payroll Tax Summary – Detailed or Payroll Journal with Taxable Wages report can be used to help determine if FICA-SS or FICA-Med have been over- or under-withheld for a given month or given payroll.

Note: If corrections are needed, see What to do when data in Form 941, Line 12 does not match data in Line 16 or Schedule B.

In some instances, a semiweekly depositor will be required to complete the Schedule B even when their current quarter liability is less than $2500. If the 941 Schedule B is not filling out, the form will become available to print or appear in the electronic filing with these steps: 

  • Go to Setup > Clients > Payroll Taxes tab.
  • In the Forms section, click the Federal 94x Additional Information button. Show me.
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  • In the Additional Information dialog, check the "Ignore deposit threshold when calculating line 16" checkbox.  Show me.
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