This section of Form 941 is for your quarter’s deposit schedule and tax liability. In Part 2, you’ll record whether you deposit on a monthly or semiweekly schedule. For the monthly depositor, you’ll fill in Month 1, Month 2, and Month 3 boxes. The total on of these three boxes ...
Form 941was less than $2,500, the previous quarterly return was less than $2,500, and there was no next-day deposit obligation for $100,000, you can check the box on Line 16 and move to Part 3. Line 16 is also where you will determine if you are a semiweekly or monthly ...
You can pay the fourth quarter's tax liability with Form 944 if your fourth quarter tax liability is less than $2,500 You must depositmonthly or semi-weekly, depending upon your schedule, if your total tax liability is over $2,500 for a quarter You must make payroll tax deposits using ...
Part 2: Deposit Schedule and Tax Liability for the Quarter Whether you are a semi-weekly or monthly depositor, Part 2 requires you to enter information about tax liability for the quarter. In line 16, you will have to choose from the options based on your tax liability: You will have to...
Generally speaking, you'll want to notify your employee you'll collect backup withholding, report the withholding to the IRS, and then deposit the withholding to the IRS on a monthly or semiweekly schedule. At the end of the year, you'll submit Form 945. Typically, you can stop backup ...