941 Sch. B

Report of Tax Liability for Semiweekly Schedule Depositors

Agency
IRS
Revision
Rev. March 2024
Fillable fields
212
Pages
1
Official source
IRS form page
Checked
October 21, 2026
Fill 941 Sch. B online
Page 1 of form 941 Sch. B

Schedule B (Form 941): Report of Tax Liability for Semiweekly Schedule Depositors

Schedule B (Form 941), Report of Tax Liability for Semiweekly Schedule Depositors, is an attachment to Form 941, Employer's QUARTERLY Federal Tax Return. The form says it shows the employer's tax liability for the quarter, not its deposits, and that each day's liability goes on the numbered space that matches the date wages were paid.

The instructions say the liability includes the federal income tax withheld from employees' pay and both the employer and employee share of social security and Medicare taxes. The IRS uses Schedule B to determine whether federal employment tax liabilities were deposited on time. The instructions say that if a semiweekly schedule depositor doesn't properly complete and file it with Form 941, the IRS may propose an "averaged" failure-to-deposit (FTD) penalty.

The schedule is one page: the employer's EIN, name, calendar year and quarter, then three months of 31 daily spaces each and a total for the quarter. The PDF can be filled out free in the browser on this page and downloaded without an account.

What's on Schedule B (Form 941)

Employer information

The employer identification number (EIN), the name (not the trade name) and the calendar year.

Report for this Quarter

Four boxes, one per quarter: January to March, April to June, July to September and October to December. One box is checked.

Month 1

Thirty-one numbered spaces for the days of the first month of the quarter, and a box for the tax liability for Month 1.

Months 2 and 3

The same 31 daily spaces and a monthly total box for the second and third months of the quarter.

Total liability for the quarter

Month 1 plus Month 2 plus Month 3. The form says the total equals line 12 on Form 941.

How to fill out Schedule B (Form 941)

  1. 1

    EIN and name

    Enter the EIN and name. The instructions say they exactly match the name and EIN the IRS assigned to the business and those on the attached Form 941 or 941-X.

  2. 2

    Year and quarter

    Enter the calendar year and check the box for the quarter. The instructions say the quarter checked matches the quarter checked on Form 941 or 941-X.

  3. 3

    Daily liabilities

    Enter the tax liability on the line for the date wages were paid, not the date liabilities accrued or deposits were made. In the instructions' example, wages paid on January 6 go on line 6 of Month 1.

  4. 4

    Research payroll tax credit

    The instructions say semiweekly depositors account for the qualified small business payroll tax credit for increasing research activities claimed on Form 941, line 11, and don't reduce a daily liability below zero.

  5. 5

    Monthly and quarter totals

    Add each month's entries for its monthly total, then add the three months. The form says the total for the quarter equals line 12 on Form 941.

  6. 6

    Attach to Form 941

    File the schedule with Form 941 for the same quarter. The instructions say to check the semiweekly schedule depositor box in Part 2 of Form 941.

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When to file, corrections and penalties

Due date

The instructions say Schedule B is filed with Form 941, so its due date is the same as the due date for that Form 941. In some situations it is filed with Form 941-X.

Prior period adjustments

The form says not to change the tax liability by adjustments reported on any Forms 941-X or 944-X when filing Schedule B with Form 941.

Amended Schedule B

After an FTD penalty assessment for an error that doesn't change the quarter's total, the instructions describe an amended Schedule B with "Amended" written at the top, filed at the address in the penalty notice.

With Form 941-X

The instructions say an amended Schedule B is filed with a late Form 941-X that shows a tax increase, and can be filed with Form 941-X for a tax decrease when an FTD penalty was assessed.

Deposits are not shown

The instructions say not to use Schedule B to show federal tax deposits, because the IRS gets deposit data from electronic funds transfers.

Related forms

Who files Schedule B (Form 941)?

  • Semiweekly schedule depositors

    The instructions say an employer is a semiweekly schedule depositor if it reported more than $50,000 of employment taxes in the lookback period or accumulated a tax liability of $100,000 or more on any given day in the current or prior calendar year.

  • Employers that became semiweekly mid-quarter

    The form says it is also attached to Form 941 by an employer that became a semiweekly schedule depositor because its accumulated tax liability on any day was $100,000 or more. The instructions say it then covers the entire quarter.

  • Monthly depositors with an FTD penalty

    The instructions say a monthly schedule depositor assessed an FTD penalty for a quarter, after an error on the monthly tax liability section of Form 941, can file Schedule B with only the monthly totals.

  • Not for small liabilities or Form 944

    The instructions say not to complete Schedule B when Form 941, line 12, is less than $2,500 for the quarter, and not to attach it to Form 944. Form 944 filers that are semiweekly depositors use Form 945-A.

Schedule B is completed by employers that file Form 941 and are semiweekly schedule depositors. Employees do not fill it out.

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Questions about Form 941 Sch. B

Who files Schedule B (Form 941)?

The instructions say semiweekly schedule depositors file it: employers that reported more than $50,000 of employment taxes in the lookback period or accumulated a tax liability of $100,000 or more on any given day in the current or prior calendar year.

Are deposits listed on Schedule B?

No. The form says it shows the tax liability for the quarter, not deposits, and the instructions say the IRS gets deposit data from electronic funds transfers.

Which date decides the line for an entry?

The date wages were paid. The instructions say entries go in the spaces for the dates wages were paid, not the date payroll liabilities were accrued or deposits were made.

Is Schedule B used with Form 944?

No. The instructions say not to file it as an attachment to Form 944. A semiweekly schedule depositor that reports a tax liability with Form 944 uses Form 945-A.

What if the quarter's liability is under $2,500?

The instructions say not to complete Schedule B if the tax liability on Form 941, line 12, is less than $2,500 during the quarter.

How is an error on a filed Schedule B fixed?

When an FTD penalty was assessed, the instructions describe filing an amended Schedule B marked "Amended" at the address in the penalty notice. The IRS then refigures the penalty.