# Department of the Treasury (1993) > Briefs, arguments, decisions, and more. URL: https://www.frixlaw.com/law-library/documents/agency%3Airs%3Aed335d955a481a6b ## Record - **Collection:** Agency decision - **Document type:** Agency decision ## Text 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 © See Circular E for more information about employment tax returns. 5151 © Attach to Form 941, Form 941E, or Form 941-SS. 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 1 8 15 22 29 2 9 16 23 30 3 10 17 24 31 4 11 18 25 5 12 19 26 6 13 20 27 21 28 7 14 A Total tax liability for first month of quarter © A B. Daily Tax Liability—Second Month of Quarter 1 8 15 22 29 2 9 16 23 30 3 10 17 24 31 4 11 18 25 5 12 19 26 6 13 20 27 21 28 7 14 B Total tax liability for second month of quarter © B C. Daily Tax Liability—Third Month of Quarter 1 8 15 22 29 2 9 16 23 30 3 10 17 24 31 4 11 18 25 5 12 19 26 6 13 20 27 7 14 21 28 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 © C D 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. Employers who are not able to implement the new deposit rules for 1993 will not be penalized for continuing to use the old deposit rules (see the February 1992 revision of Circular E). If you continue to use the old deposit rules for 1993, report your tax liability on Schedule B (Form 941) on a daily basis. General Instructions Purpose of Form.—Use Schedule B (Form 941) to report your tax liability (income tax withheld, including backup withholding, plus both employee and employer social security and Medicare taxes minus any advance earned income credit) on a daily basis. DO NOT show Federal tax deposits here. Deposit information is obtained from the deposit coupons (Form 8109). Who Must File.—If your total tax liability for the quarter is less than $500, you need not complete Schedule B (For m 941). Semiweekly depositors are required to complete and attach Schedule B to Form 941. Monthly depositors who accumulate $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. --- Source: Frix Law Library, https://www.frixlaw.com/law-library/documents/agency%3Airs%3Aed335d955a481a6b. Public record. Not legal advice.