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 changes to Form 941 for the Q1 of 2022?
Employee retention credit for COVID-19 has expired. Because the COVID-19 associated employee retention credit has expired, the instructions for reducing tax obligation for the nonrefundable component of the employee retention credit reported on Form 941, line 11c, have been removed.
Visit: https://www.taxbandits.com/form-941/revised-irs-form-941-for-q1-2022/ to know more about the 1st quarter Form 941 for 2022.
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.