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2014 941 schedule b Form: What You Should Know

For forms that are for 2024 tax years, the PDFs are in the 2024 section.) 2014 Tax Forms Tax Liability for Semiweekly Schedule Depositors 2024 Tax Forms. (2013 section) Pay any taxes due and interest due immediately. (Forms that have been filed, are awaiting approval, and have not yet gone through the processing time limit, will continue to be filed through April 30, 2014. If any portion of the payment is due before that time, a late payment penalty will apply.) Filling out the Form 941 (Schedule B) Step 1: Fill out the Schedule B (941 form). A printable copy of Schedule B is available for download on IRS.gov under Form 941 (Scheduled). Use this page to print Schedule B. You will also need to fill out this chart.

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Instructions and Help about 2024 form 941 schedule b

Continuing on with our discussion of Form 941, we have reviewed the company information at the top and reported the quarter. We have entered information for the company down through line 6. To complete lines 7 through 15, we need to refer back to the company's payroll report. I have added some information regarding the total for our quarterly wage, OASDI from the employee side, Medicare for the employee side, and federal income taxes for the employee only. Next, we looked at the amount of OASDI that we would have had if it were equal for every pay period. This example was mentioned in the book, so I included it for our understanding of the forms. The amount we have for each pay period is calculated at the rate of 4.2 percent. The employee or FICA tax for OASDI is calculated by multiplying the total wages by 6.2 percent. To calculate the H I tax, I divided the previous amount by seven, as indicated in the book. Using a formula in Excel, I rounded it to the nearest penny, and it came out to be $15.14. Again, this is divided by seven pay periods. For both the employee and employer, the H I tax is 1.45 percent. The amount for employees' federal income tax withholding is calculated by dividing the total by seven pay periods. This gives me the total taxes per payday, which I added up. To calculate the total liability of federal taxes, I multiplied the liability by seven deposits. As this is a semi-weekly depositor, they have to send in deposits after every pay period instead of waiting until the end of the month. This gives us the total liability for the quarter. Lastly, I added another piece of information.