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 7
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96d. Social security tax exemption. Multiply the amount
If you are a semiweekly depositor, you must
!
of exempt wages/tips reported on line 6c by .062 and enter
complete Schedule B (Form 941). If you fail to
the result on line 6d. See the instructions for line 17 for
complete and submit Schedule B (Form 941), the
CAUTION
details about applying this exemption to your tax liability.
IRS will assert deposit penalties based on available
information.
6e. Total taxes before adjustments. Subtract the
qualified employer’s social security tax exemption (line 6d)
11. Total deposits for this quarter...
from the total social security and Medicare taxes before
Enter your deposits for this quarter, including any
adjustments (line 5d). Enter the result on line 6e.
overpayment that you applied from filing Form 941-X or
Form 944-X in the current quarter. Also include in the
7. TAX ADJUSTMENTS
amount shown any overpayment from a previous period that
Enter tax amounts on lines 7a through 7c that result from
you applied to this return.
current quarter adjustments. Use a minus sign (if possible)
to show an adjustment that decreases the total taxes shown
12a. COBRA premium assistance payments
on line 6e, instead of parentheses. Doing so enhances the
Report on this line 65% of the COBRA premiums for
accuracy of our scanning software. For example, report
assistance eligible individuals. Take the COBRA premium
‘‘-10.59’’ instead of ‘‘(10.59).’’ However, if your software only
assistance credit on this line only after the assistance
allows for parentheses in reporting negative amounts, you
eligible individual’s 35% share of the premium has been
may use them.
paid. For COBRA coverage provided under a self-insured
Current quarter’s adjustments. In certain cases, you
plan, COBRA premium assistance is treated as having been
must adjust the amounts you reported as social security and
made for each assistance eligible individual who pays 35%
Medicare taxes in column 2 of lines 5a, 5b, and 5c to figure
of the COBRA premium. Do not include the assistance
your correct tax liability for this quarter’s Form 941-SS. See
eligible individual’s 35% of the premium in the amount
section 8 of Pub. 80 (Circular SS).
entered on this line. For more information on the COBRA
premium assistance credits, visit the IRS website at
Prior quarter’s adjustments. If you need to adjust any
and enter keyword COBRA.
amount reported on lines 7a, 7b, or 7c from a previously
filed Form 941-SS, complete and file Form 941-X. Form
The amount reported on line 12a is treated as a
941-X is filed separately from Form 941-SS. See section 9
!
deposit of taxes on the first day of your return period
of Pub. 80 (Circular SS).
and must not be used to adjust line 17 or Schedule B
CAUTION
7a. Current quarter’s adjustment for fractions of
(Form 941).
cents. Enter adjustments for fractions of cents (due to
If you provided premium assistance in a prior quarter of
rounding) relating to the employee share of social security
the current year and did not report the amount of that
and Medicare taxes withheld. The employee share
premium assistance on Form 941-SS for that quarter, you
(one-half) of amounts shown in column 2 of lines 5a – 5c
may include the amount of that premium assistance in the
may differ slightly from amounts actually withheld from
amount entered on this line, or file Form 941-X to report the
employees’ paychecks due to the rounding of social security
amount for the prior quarter of the current year.
and Medicare taxes based on statutory rates.
12b. Number of individuals provided
7b. Current quarter’s adjustment for sick pay. Enter
the adjustment for the employee share of social security and
COBRA premium assistance on line 12a
Medicare taxes that were withheld by your third-party sick
Enter the total number of assistance eligible individuals
pay payer.
provided COBRA premium assistance reported on line 12a.
7c. Current quarter’s adjustments for tips and
Count each assistance eligible individual who paid a
group-term life insurance. Enter adjustments for:
reduced COBRA premium in the quarter as one individual,
•
Any uncollected employee share of social security and
whether or not the reduced premium was for insurance that
Medicare taxes on tips and
covered more than one assistance eligible individual. For
•
The uncollected employee share of social security and
example, if the reduced COBRA premium was for coverage
Medicare taxes on group-term life insurance premiums paid
for a former employee, spouse, and two children, you would
for former employees.
include one individual in the number entered on line 12b for
the premium assistance. Further, each individual is reported
8.
Total taxes after adjustments
only once per quarter. For example, an assistance eligible
Combine the amounts shown on lines 6e through 7c and
individual who made monthly premium payments during the
enter the result here.
quarter would only be reported as one individual.
•
If line 8 is less than $2,500 or line 8 on the preceding
Lines 12c – 12e only apply to the second quarter of
quarterly return was less than $2,500, and you did not
!
2010. These lines are used to determine the number
incur a $100,000 next-day deposit obligation during the
of qualified employees, amount of exempt wages/
CAUTION
current quarter. You may pay the amount with Form
tips, and amount of exemption as if the exemption were
941-SS or you may deposit the amount. To avoid a penalty,
allowed for the first quarter of 2010. An employer is allowed
you must pay the amount in full with a timely filed return or
to treat this exemption as a payment credited against
you must deposit the amount timely. See section 8 of Pub.
deposit requirements for employment taxes due for the
80 (Circular SS) for information and rules about federal tax
second quarter 2010. If any of these lines are completed for
deposits.
•
any quarter other than the second quarter of 2010, Form
If line 8 is $2,500 or more and line 8 on the preceding
941-SS may be considered incomplete and subject to
return was $2,500 or more, or if you incurred a $100,000
correction and penalties.
next-day deposit obligation during the current quarter.
You must deposit the amount by using the Electronic
12c. Number of qualified employees paid
Federal Tax Payment System (EFTPS) or at an authorized
exempt wages/tips March 19–31
financial institution with Form 8109. The amount shown on
line 8 must equal the “Total liability for quarter” shown on
Complete this line when filing Form 941 for the 2nd quarter
Form 941-SS, line 17 or the “Total liability for the quarter”
of 2010 only. Enter on line 12c the number of qualified
shown on Schedule B (Form 941).
employees paid exempt wages/tips from March 19, 2010
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