What is Form 941 Schedule B?
Form 941 Schedule B must be filed by employers along with Form 941 or 941-SS if they are a semi-weekly depositor or have accumulated $100,000 or more in tax liabilities on any given day in the current or past calendar year.
An employer is considered to be a semi-weekly depositor of federal employment taxes for the entire calendar year if the aggregate amount of taxes reported on Form 941 is more than $50,000 in the look-back period (the total amount of employment taxes reported by the employer in the 12-month period preceding June 30th).
For example, the look-back period to submit employment tax deposits in 2021 would be the 12-month period from
July 1, 2019 to June 30, 2020.
How to Complete Schedule B with Form 941?
Enter required details such as business information, wages paid to employees and taxes withheld during the quarter
Select semiweekly schedule depositor under Part 2 - Line 16, and Schedule B will be enabled for you to fill.
Review the draft version of Form 941 and make sure you provided the accurate information
If the information provided is accurate, transmit the return directly to the IRS. You'll receive an email once the IRS processes your return.