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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information. You can find Rev. Proc. 2004-53 on page 320
Employer’s exempt social security tax on line 12e (only for
of Internal Revenue Bulletin 2004-34 at
the second quarter of 2010).
Adjustment of Tax on Tips
Specific Instructions:
If, by the 10th of the month after the month you received an
employee’s report on tips, you do not have enough
Part 1: Answer these questions for
employee funds available to withhold the employee’s share
of social security and Medicare taxes, you no longer have to
this quarter.
collect it. Report the entire amount of these tips on lines 5b
(Taxable social security tips) and 5c (Taxable Medicare
Employers in American Samoa, Guam, the Commonwealth
wages and tips). Include as an adjustment on line 7c the
of the Northern Mariana Islands, and the U.S. Virgin Islands
total uncollected employee share of the social security and
are not required to complete lines 2, 3, 9, 10, and 16.
Medicare taxes.
1. Number of employees who received
Depositing Your Taxes:
wages, tips, or other compensation for this
When Must You Deposit Your Taxes?
quarter
Enter the number of employees on your payroll for the pay
Determine if you are a monthly or
period including March 12, June 12, September 12, or
semiweekly schedule depositor for the
December 12 for the quarter indicated at the top of the
return. Do not include:
quarter.
•
Household employees,
•
The IRS uses two different sets of deposit rules to determine
Employees in nonpay status for the pay period,
•
when businesses must deposit their social security and
Farm employees,
•
Medicare taxes. These schedules tell you when a deposit is
Pensioners, or
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due after you have a payday.
Active members of the Armed Forces.
Your deposit schedule is not determined by how often
If you enter “250” or more on line 1, you must file
you pay your employees. Your deposit schedule depends on
Forms W-2AS, W-2CM, W-2GU, and W-2VI
TIP
the total tax liability you reported on Form 941-SS during the
electronically. For details, call the SSA at
previous four-quarter lookback period (July 1 of the second
1-800-772-6270 or visit SSA’s Employer W-2 Filing
preceding calendar year through June 30 of last year). See
Instructions & Information website at
section 8 of Pub. 80 (Circular SS) for details. If you filed
Form 944-SS in either 2008 or 2009, your lookback period is
the 2008 calendar year.
4. If no wages, tips, and other
Before the beginning of each calendar year, determine
compensation are subject to social security
which type of deposit schedule you must use. If you
or Medicare tax . . .
reported:
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$50,000 or less in taxes during the lookback period, you
If no wages, tips, and compensation are subject to social
are a monthly schedule depositor.
security or Medicare tax, check the box on line 4. If this
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More than $50,000 of taxes for the lookback period, you
question does not apply to you, leave the box blank. For
are a semiweekly schedule depositor.
more information about exempt wages, see section 12 of
Pub. 80 (Circular SS) and section 4 of Pub. 15-A.
See $100,000 Next-Day Deposit Rule in section 8 of
Pub. 80 (Circular SS) if you have taxes of $100,000
TIP
If you are a government employer, wages you pay
or more accumulated on any day during the deposit
!
are not automatically exempt from social security
period.
and Medicare taxes. Your employees may be
CAUTION
covered by law or by a voluntary Section 218 Agreement
How Must You Deposit Your Taxes?
with the SSA. For more information, see Pub. 963,
Federal-State Reference Guide.
You may have to deposit both the employer and employee
5. Taxable social security and Medicare
social security taxes and Medicare taxes. If your total taxes
after adjustments (line 8) are:
wages and tips
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Less than $2,500 for the current quarter or the
5a. Taxable social security wages. Report the total
preceding quarter, and you did not incur a $100,000
wages, sick pay, and fringe benefits subject to social
next-day deposit obligation during the current quarter.
security taxes that you paid to your employees during the
You do not have to make a deposit. To avoid a penalty, you
quarter. For this purpose, sick pay includes payments made
must pay the amount in full with a timely filed return or you
by an insurance company to your employees for which you
must deposit the amount timely. However, if your taxes for
received timely notice from the insurance company. See
the preceding quarter were less than $2,500, you are unsure
section 6 in Pub. 15-A for more information about sick pay
whether you will incur a $100,000 next-day deposit
reporting.
obligation in the current quarter, and you are unsure your
taxes will be less than $2,500 for the current quarter, deposit
Enter the amount before deductions. Do not include tips
your taxes using the appropriate rules (above) to avoid
on this line. For information on types of wages subject to
failure to deposit penalties.
social security taxes, see section 4 of Pub. 80 (Circular SS).
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$2,500 or more for the current quarter and the
The rate of social security tax on taxable wages is 6.2%
preceding quarter. You must make deposits according to
(.062) each for the employer and employee or 12.4% (.124)
your deposit schedule. See section 8 of Pub. 80 (Circular
for both. Stop paying social security tax on and reporting an
SS) for information and rules about federal tax deposits.
employee’s wages on line 5a when the employee’s taxable
You may reduce your deposits during the quarter by the
wages (including tips) reach $106,800 during 2010.
amount of:
However, continue to withhold Medicare taxes for the whole
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COBRA premium assistance payments reported on line
year on wages and tips even when the social security wage
12a,
base of $106,800 has been reached.
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Employer’s exempt social security tax on line 6d, and
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