What_is_Form_941_Schedule_B_

What is Form 941 - Schedule B?

Issue

When I print the 941 Report, page 4 is something called Schedule B. What is Schedule B? What does it do? Why is it here?

 

Explanation

Schedule B will match the payments that you have by check issue date for your employees. It will show you the payments for each month in the quarter. The payments on Schedule B should match what you would expect Connect to calculate for the federal withholding tax for each batch of checks. 

The amounts will be rounded to the nearest whole dollar amount. So you may see a difference of one or two pennies on the quarterly total. 

You can use Schedule B to match your payments to 

  • your IRS online account, 

  • your EFTPOS receipt, or

  • your Transmittal Register - Paid report.  

 

Use Schedule B with the reports, listed above, and your receipts to verify the payments that you have made also match the payments listed on Schedule B. 

Note: If you have employees who received a check on a different check issue date, but you paid the tax for both checks together, you will need to remember those instances so you know why the paid tax amount is different from what you expected it to be. For example, if you printed a check on the fifth day of the month and the employee also received a payroll check on the sixth day of the month,  

 

 

 

 

 

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