Department of the Treasury (1993)

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SCHEDULE B

(FORM 941)

(Rev. January 1993)

Department of the Treasury

Internal Revenue Service

Employer’s Record of Federal Tax Liability

OMB No. 1545-0029

Expires 1-31-96

5151

Name as shown on Form 941 (Forms 941E or 941-SS)

Employer identification number

Date quarter ended

You must complete this schedule if you are required to deposit on a semiweekly basis, or if your tax liability on any

day is $100,000 or more. Show tax liability here, not deposits. (The IRS gets deposit data from FTD coupons.)

A. Daily Tax Liability—First Month of Quarter

A Total tax liability for first month of quarter

B. Daily Tax Liability—Second Month of Quarter

B Total tax liability for second month of quarter

C. Daily Tax Liability—Third Month of Quarter

C Total tax liability for third month of quarter

D Total for quarter (add lines A, B, and C). This should equal line 16 of Form 941

For Paperwork Reduction Act Notice, see page 2.

Schedule B (Form 941) (Rev. 1-93)

Cat. No. 11967Q

Page 2

Schedule B (Form 941) (Rev. 1-93)

Paperwork Reduction Act Notice.—We

ask for the information on this form to

carry out the Internal Revenue laws of

the United States. You are required to

give us the information. We need it to

ensure that you are complying with

these laws and to allow us to figure and

collect the right amount of tax.

The time needed to complete and file

this form will vary depending on

individual circumstances. The estimated

average time is 2 hr., 40 min.

If you have comments concerning the

accuracy of this time estimate or

suggestions for making this form more

simple, we would be happy to hear from

you. You can write to both the IRS and

the Office of Management and Budget

at the addresses listed in the

instructions of the tax return with which

this form is filed.

Important Changes for 1993.—Effective

January 1, 1993, the deposit rules have

changed. See section 13 of Circular E,

Employer’s Tax Guide, for details on the

new deposit rules. Under the new rules,

employers are either monthly or

semiweekly depositors. The use of

Schedule B (Form 941) has been

expanded to include semiweekly

depositors, as well as those who

accumulate a tax liability of $100,000 or

more on any day must also complete

and attach Schedule B. Schedule B also

must be used by semiweekly depositors

who file Form 941E, Quarterly Return of

Withheld Federal Income Tax and

Medicare Tax, or Form 941-SS,

Employer’s Quarterly Federal Tax Return

(for Guam, the Virgin Islands, etc.).

All employers using the old deposit

rules must record their tax liabilities on

Schedule B (Form 941). If you are

continuing to use the old deposit rules,

do not use line 20 of Form 941 or any

prior year record of Federal tax liability

schedules.

Specific Instructions

Completing the Employer’s Record of

Federal Tax Liability.—If you are

required to report your tax liabilities on

Schedule B (Form 941) as discussed

above, file the schedule with Forms 941,

941E, or 941-SS. Do not complete

columns (a)-(d) of the Monthly Summary

of Federal Tax Liability (e.g., line 20 on

Form 941). However, be sure to mark

the Schedule B checkbox.

For each month of the quarter, show

the amount of tax liability accumulated

on a daily basis. Enter the monthly totals

on lines A, B, and C. Add these monthly

subtotals and enter the total tax liability

for the quarter on line D. The amount on

line D should equal Form 941, line 16;

Form 941E, line 14; or 941-SS, line 10.

Example A: Employer A is using the

new deposit rules for 1993 and is a

semiweekly depositor. It has bi-weekly

paydays on Fridays. It accumulated a

$20,000 employment tax liability on each

of the following pay dates: 1/8/93;

1/22/93; 2/5/93; 2/19/93; 3/5/93; and

3/19/93. Since Employer A is a

semiweekly depositor, it is required to

record its tax liabilities on Schedule B

(Form 941). Employer A must record the

$20,000 liabilities on lines 8 and 22 of

part A (First Month of Quarter); lines 5

and 19 of part B (Second Month of

Quarter); and lines 5 and 19 of part C

(Third Month of Quarter).

Example B: Employer B is a new

business and is using the new deposit

rules. Based on the new deposit rules,

Employer B is a monthly depositor for

1993. Employer B has bi-weekly

paydays on Fridays and accumulated a

$2,000 employment tax liability on

1/8/93 and a $110,000 tax liability on

each of the following pay dates: 1/22/93;

2/5/93; 2/19/93; 3/5/93; and 3/19/93.

The new deposit rules state that an

employer becomes a semiweekly

depositor when a $100,000 or more tax

liability is accumulated on any day within

a deposit period (see section 13 of

Circular E for details). Since Employer B

accumulated $110,000 on 1/22/93, it

became a semiweekly depositor on that

date and must complete Schedule B

(Form 941) and file it with Form 941. It

should record the $2,000 liability on line

8 of part A and $110,000 on the lines for

the remaining pay dates. No entries

should be made on line 20 of Form 941

although Employer B was a monthly

depositor until 1/22/93.

Example C: Employer C is using the old

deposit rules for 1993 and has bi-weekly

paydays on Fridays. It accumulated a

$1,000 tax liability on each of the pay

dates listed in Example A. Since

Employer C is using the old deposit

rules, it must record all its employment

tax liabilities on Schedule B (Form 941),

regardless of the amount of tax

accumulated or the deposit

requirements. The $1,000 liabilities must

be entered on the lines for each pay

date as shown in the above examples.

No entries should be made on line 20 of

Form 941.

This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.