Instructions For Form 941-Ss - Employer'S Quarterly Federal Tax Returnamerican Samoa, Guam, The Commonwealth Of The Northern Mariana Islands, And The U.s. Virgin Islands - 2010 Page 5
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9You may reduce your deposits during the quarter by the
Adjustment of Tax on Tips
amount of:
If, by the 10th of the month after the month you received an
•
COBRA premium assistance payments reported on line
employee’s report on tips, you do not have enough
12a,
employee funds available to withhold the employee’s share
•
Employer’s exempt social security tax on line 6d, and
of social security and Medicare taxes, you no longer have to
•
Employer’s exempt social security tax on line 12e.
collect it. Report the entire amount of these tips on lines 5b
.
(Taxable social security tips) and 5c (Taxable Medicare
wages and tips). Include as an adjustment on line 7c the
EFTPS is an easy, safe, and convenient way for all
total uncollected employee share of the social security and
TIP
employers to make their tax deposits. Using EFTPS
Medicare taxes.
helps eliminate errors commonly made on federal tax
deposit (FTD) coupons. Some taxpayers are required to
use EFTPS to deposit their taxes. See section 8 of
Depositing Your Taxes:
Pub. 80 (Circular SS) for details.
When Must You Deposit Your Taxes?
Specific Instructions:
Determine if you are a monthly or
semiweekly schedule depositor for the
Part 1: Answer these questions for
quarter.
this quarter.
The IRS uses two different sets of deposit rules to determine
when businesses must deposit their social security and
Medicare taxes. These schedules tell you when a deposit is
Employers in American Samoa, Guam, the Commonwealth
due after you have a payday.
of the Northern Mariana Islands, and the U.S. Virgin Islands
are not required to complete lines 2, 3, 9, 10, and 16.
Your deposit schedule is not determined by how often
you pay your employees. Your deposit schedule depends on
1. Number of employees who received
the total tax liability you reported on Form 941-SS during the
wages, tips, or other compensation for the
previous four-quarter lookback period (July 1 of the second
pay period including:
preceding calendar year through June 30 of last year). See
section 8 of Pub. 80 (Circular SS) for details. If you filed
Enter the number of employees on your payroll for the pay
Form 944-SS in either 2008 or 2009, your lookback period is
period including March 12, June 12, September 12, or
the 2008 calendar year.
December 12 for the quarter indicated at the top of the
return. Do not include:
•
Before the beginning of each calendar year, determine
Household employees,
•
which type of deposit schedule you must use. If you
Employees in nonpay status for the pay period,
•
reported:
Farm employees,
•
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$50,000 or less in taxes during the lookback period, you
Pensioners, or
•
are a monthly schedule depositor.
Active members of the Armed Forces.
•
More than $50,000 of taxes for the lookback period, you
If you enter “250” or more on line 1, you must file
are a semiweekly schedule depositor.
TIP
Forms W-2 electronically. For details, call the SSA at
1-800-772-6270 or visit SSA’s Employer W-2 Filing
See $100,000 Next-Day Deposit Rule in section 8 of
Instructions & Information website at
TIP
Pub. 80 (Circular SS) if you have taxes of $100,000
or more accumulated on any day during the deposit
period.
4. If no wages, tips, and other
compensation are subject to social security
How Must You Deposit Your Taxes?
or Medicare tax . . .
If no wages, tips, and compensation are subject to social
You may have to deposit both the employer and employee
security or Medicare tax, check the box on line 4. If this
social security taxes and Medicare taxes. If your total taxes
question does not apply to you, leave the box blank. For
after adjustments (line 8) are:
•
more information about exempt wages, see section 12 of
Less than $2,500 for the current quarter or the
Pub. 80 (Circular SS) and section 4 of Pub. 15-A.
preceding quarter, and you did not incur a $100,000
next-day deposit obligation during the current quarter.
If you are a government employer, wages you pay
You do not have to make a deposit. To avoid a penalty, you
!
are not automatically exempt from social security
must pay the amount in full with a timely filed return or you
and Medicare taxes. Your employees may be
CAUTION
must deposit the amount timely. However, if your taxes for
covered by law or by a voluntary Section 218 Agreement
the preceding quarter were less than $2,500, you are unsure
with the SSA. For more information, see Pub. 963,
whether you will incur a $100,000 next-day deposit
Federal-State Reference Guide.
obligation in the current quarter, and you are unsure your
taxes will be less than $2,500 for current quarter, deposit
5. Taxable social security and Medicare
your taxes using the appropriate rules (above) to avoid
wages and tips
failure to deposit penalties.
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$2,500 or more for the current quarter and the
5a. Taxable social security wages. Report the total
preceding quarter. You must deposit your taxes by using
wages, sick pay, and fringe benefits subject to social
EFTPS or by depositing them at a financial institution that is
security taxes that you paid to your employees during the
authorized to accept federal tax deposits (that is, authorized
quarter. For this purpose, sick pay includes payments made
depository) with Form 8109, Federal Tax Deposit Coupon.
by an insurance company to your employees for which you
See section 8 of Pub. 80 (Circular SS).
received timely notice from the insurance company. See
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