The IRS requires additional information regarding the TAX LIABILITIES for a semiweekly depositors. This information is collected on Schedule B (Form 941).
Form 941 Schedule B Filing Requirements
Form 941 Schedule B must be filed by employers,
- if they are reporting more than $50,000 in employment taxes for the previous period
- if they have accumulated $100,000 or more in tax liabilities for the current or past calendar year
What are the new changes to Schedule B
for Q2 2021?
Form 941 Schedule B has changes for the second quarter of 2021. For Q2 2021, report Schedule B adjustments to tax liabilities for the following lines: Line 11a, 11b, 11c, 11d and 11e.
For more information on Form 941 changes, click here
How TaxBandits Helps You Complete Your
Form 941 Schedule B?
To complete your Schedule B report, you are required to enter your tax liability in the numbered space that corresponds to the date that wages were paid.
TaxBandits helps you to file Form 941 Schedule B for you that's based on the information you provide while completing your Form 941.