Form 941 and Schedule B
File Form 941 quarterly and Schedule B for accurate payroll tax reporting and compliance.
Form 941 – Employer’s Quarterly Federal Tax Return
What is Form 941?
Form 941 is the IRS form that most employers use to report payroll taxes. It’s filed quarterly and covers:
- Federal income tax withheld from employees’ wages
- Social Security and Medicare taxes (employer and employee portions)
- Adjustments for sick pay, tips, and other credits
At Check, this return is prepared and filed every quarter on behalf of all companies running on our Partners. Employers don’t need to submit this form directly — we take care of it automatically.
Filing Schedule
Form 941 must be filed four times per year:
- Q1: January – March (due end of April)
- Q2: April – June (due end of July)
- Q3: July – September (due end of October)
- Q4: October – December (due end of January)
Timely filing ensures compliance and avoids IRS penalties.
Schedule B – Report of Tax Liability
Schedule B is an attachment to Form 941 that certain employers must file. It provides a daily breakdown of federal tax liability for each day of the quarter.
- Who needs Schedule B? Employers who deposit employment taxes on a semiweekly schedule.
- Why it matters: The IRS uses Schedule B to match deposits against actual liabilities. Errors (like reporting deposits instead of liabilities) can trigger penalty notices.
- Check’s process: If a company on our platform is a semiweekly depositor, Check completes and files Schedule B along with Form 941.
Key Takeaways
- Form 941 is a quarterly payroll tax return filed with the IRS.
- Check files this return for all companies running payroll on our Partners.
- Schedule B is only required for semiweekly depositors, and Check also handles this filing automatically.
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Last updated on August 20, 2025