Form 941 Schedule B

What is IRS Form 941 Schedule B?

Schedule B, which accompanies Form 941, is a daily report of the employer's tax liability for federal income taxes withheld from employees. It also includes the employer's share of the Social Security and Medicare taxes withheld during the period. This withholding information must be submitted to the IRS quarterly using Form 941 Schedule B. Don't use IRS Form 941 Schedule B to report federal tax deposits.

Who must file Form 941 Schedule B?

Not all employers are required to file Schedule B with their quarterly tax return (Form 941). Schedule B is specifically required for employers who are classified as semiweekly schedule depositors.

You must file Schedule B if you:

If you become a semiweekly schedule depositor at any point during a quarter, you need to complete Schedule B for the entire quarter.

The $100,000 tax liability threshold that triggers the next-day deposit requirement is calculated before considering any reduction from nonrefundable credits.

Why should you File Form 941 Schedule B?

If you are a semiweekly schedule depositor, you must complete Form 941 Schedule B so that the IRS can reconcile your company's wages and withholdings and process your tax payments.

How to file Schedule B with Form 941?

You have 2 different options for filing IRS Form 941 Schedule B:

When is the Deadline to file Form 941 Schedule B?

There is no specified deadline for submitting IRS Form 941 Schedule B. It must be submitted along with your Form 941 by the quarterly deadline, which is the last day of the month after the end of the quarter.

Are there any penalties for not filing Schedule B Form 941?

Failure to provide a Schedule B Form 941 may make it impossible for the IRS to determine which penalty rates apply. The IRS will typically split the difference by charging average penalties. These are calculated by distributing your total tax due shown on IRS Form 941, line 12, equally throughout the tax period.

What are the updates to Form 941 for the 2025 tax year?

• Social security tax rate: Remains at 6.2% each for employee and employer.
• Social security wage base limit: Increased to $176,100.
• Medicare tax rate: Unchanged at 1.45% each for employee and employer with no wage base limit.
• Household workers threshold: Social security and Medicare taxes apply to household workers paid $2,800 or more in cash wages in 2025.
• Election workers threshold: Social security and Medicare taxes apply to election workers paid $2,400 or more in cash or equivalent compensation in 2025.
• Electronic filing option: Form 941-X (Adjusted Employer's QUARTERLY Federal Tax Return or Claim for Refund) can now be filed electronically.

For more information about the changes, refer Revised IRS Form 941

E-file Form 941 Schedule B with TaxZerone in Minutes

E-file Form 941 with TaxZerone, along with Schedule B, and get instant updates on the IRS status of your form.

Follow the simple steps below to e-file Form 941.

• Create a FREE TaxZerone account
• Choose "Form 941" and enter the details.
• If you are a semiweekly depositor, complete Schedule B.
• Review and transmit the return to the IRS.

You will receive an email once the IRS processes your return.