What is Form 941 Schedule B and who needs to file?
2.3k views | Last modified 2/28/2022 1:16:23 AM EST

Applicable To
94X 1099 W-2 ACA W-4

Form 941 Schedule B is the IRS tax form used by the semiweekly schedule depositor to report tax liability, including federal income taxes and FICA. Whether or not you must file Schedule B is determined by your deposit schedule.

If either of the following criteria applies to you, you are a semiweekly depositor and liable to complete Schedule B with Form 941.

  • The employment or payroll taxes in the previous lookback period are more than $50,000.
  • Or, the aggregated tax amount is $100,000 or higher on any day in the current or past calendar year.

For instance, if your payroll tax for the First Quarter of 2019 is $75,000, you will be a semiweekly depositor. Also, if you aggregate $100,000 during any one day of the calendar year, then you are a semiweekly depositor. In both cases, you are required to file Form 941 Schedule B.

When you use TaxBandits to file Form 941, our system will automatically generate Schedule B if you choose a semiweekly deposit schedule.

Note: Always file Schedule B along with Form 941. Never submit Schedule B separately.

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