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Free Instruction 941 SCH D (Rev. March 2005) Instructions - FindForms.com
Free Instruction 941 SCH D (Rev. March 2005) - Federal
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Instructions for Schedule D (Form 941)
� a statutory merger, � a consolidation, or � an acquisition for which you are using the alternate
� an acquisition for which you are using the standard
procedure under Rev. Proc. 2004-53 or � an acquisition that is not a statutory merger or consolidation and that does not qualify under the predecessor-successor rules. See Acquisitions that Qualify Under the Predecessor-Successor Rules, on page 2, for a complete discussion of the predecessor-successor rules.
Each year the Internal Revenue Service (IRS) and the Social Security Administration (SSA) compare the totals on your Forms 941 with the totals from your Forms W-2, Wage and Tax Statement (Copy A), to verify that: � the wages you reported on Forms 941 match those you reported on Forms W-2 (Copy A) so that your employees' social security earnings records are complete for benefit purposes and � you have paid the appropriate taxes. Generally, the totals of all your Forms W-2 (Copy A) should equal the aggregate quarterly totals you reported on Forms 941. Use Schedule D (Form 941) if discrepancies exist between the totals you reported on those forms only as a result of an acquisition, statutory merger, or consolidation. IRS uses Schedule D (Form 941) to determine if you have reported your wages and tax liabilities CAUTION correctly. In many cases, the information on Schedule D (Form 941) helps the IRS resolve discrepancies without contacting you.
You do not need to file a Schedule D (Form 941) for every merger, acquisition, or other reorganization that occurs. File Schedule D (Form 941) only for those acquisitions, statutory mergers or consolidations that create discrepancies between Forms W-2 (Copy A) and Forms 941 in the totals of: � social security wages, � Medicare wages and tips, � social security tips, � federal income tax withheld, and � advance EIC payments.
If you are the surviving corporation after a statutory merger or consolidation, you should file Schedule D (Form 941) to provide: � the date of the statutory merger or consolidation; � the name, trade name (doing business as or d/b/a), address, and employer identification number (EIN) of the acquired corporation; and � an explanation of any discrepancies between Forms W-2 (Copy A) and Forms 941 in the totals of social security wages, Medicare wages and tips, social security tips, federal income tax withheld, and advance EIC payments.
If you are the acquired corporation after a statutory merger or consolidation and you are filing a final Form 941, you should file Schedule D (Form 941) to provide: � the date of the statutory merger or consolidation; � the name, trade name (doing business as or d/b/a), address, and EIN of the surviving corporation; and � an explanation of any discrepancies between Forms W-2 (Copy A) and Forms 941 in the totals of social security wages, Medicare wages and tips, social security tips, federal income tax withheld, and advance EIC payments. Rev. Rul. 62-60, 1962-1 C.B. 186, provides that, for employment tax purposes, the "resultant" corporation (now called a "surviving" corporation) resulting from a statutory merger or consolidation is the same employer and taxpayer as the "absorbed" corporation (now called an "acquired" corporation). The predecessor-successor rules described in Rev. Proc. 2004-53 do not apply to these transactions. However, Rev. Proc. 2004-53 provides for using Schedule D (Form 941) by a surviving corporation or an acquired corporation to report information after a statutory merger or consolidation only where there is a discrepancy. If the surviving corporation completes and files Schedule D (Form 941) to explain discrepancies between the totals on Forms W-2 (Copy A) and the totals on Forms 941, filing Schedule D (Form 941) will also provide notice of a statutory merger or consolidation under Rev. Rul. 62-60.
You should file Schedule D (Form 941): � no later than the due date of your Form 941 for the first quarter of the year after the calendar year of the transaction or � with your final Form 941, if your final Form 941 is due before the first quarter of the year after the calendar year of the transaction. For example, if the transaction occurred in the third quarter of 2005 and your business is continuing to operate, you would file Schedule D (Form 941) with your Form 941 for the first quarter of 2006. However, if your business is not continuing to operate during 2005, you would file Schedule D (Form 941) with your final Form 941.
Schedule D (Form 941) was designed to be filed electronically (after March 31, 2006) with your electronic submission of Form 941. Electronic filing of Schedule D (Form 941) enables IRS to process information on the form more efficiently and accurately. However, you may file Schedule D (Form 941) on paper if necessary. When filing on paper, do not attach Schedule D (Form 941) to your Form 941. Instead, file Schedule D (Form 941) separately using the following address. Stop 815G --Team 301 Internal Revenue Service 201 Rivercenter Blvd. Covington, KY 41011 Do not use this address to file Form 941. See Where Should You File? in the Instructions for Form 941 for the filing address of Form 941.
Acquisitions that qualify under the predecessor-successor rules are acquisitions in which a successor employer: � acquires substantially all the property used in a trade or business of another employer (predecessor) or in a separate unit of a trade or business of a predecessor and � in connection with and directly after the acquisition (but during the same calendar year) employs individuals who immediately before the acquisition were employed in the trade or business of the predecessor. These acquisitions satisfy the conditions for predecessor-successor status set forth in section 3121(a)(1) of the Internal Revenue Code and section 31.3121(a)(1)-1(b) of the Employment Tax Regulations. Rev. Proc. 2004-53 contains the rules that apply to employment tax reporting in a predecessor-successor situation. Two procedures can be used in an acquisition that qualifies as a predecessor-successor situation. � Standard procedure--Do not file Schedule D (Form 941). No discrepancies should exist between the totals of the Forms W-2 (Copy A) and the totals of the Forms 941 as a result of the acquisition. � Alternate procedure--Each party in the transaction should file Schedule D (Form 941). Forms W-2 (Copy A) filed by the successor may include amounts reported on Forms 941 filed by the predecessor. -2-
In the box at the top of the schedule, write the tax year (not the quarter) in which the discrepancies occurred. Write the tax year using four digits. For example, if the transaction occurred on March 22, 2005, write "2005" in the box. Make sure you fill in the correct tax year so that you can reconcile the information appropriately. The tax year must be the same as the calendar year that you write in Part 1, line 2. Be sure to fill in your EIN, business name, other TIP party's EIN, and the tax year of the discrepancies on the top of page 2 as well.
Column A � Column B Column C
Check the appropriate box to show whether this form is the "Original" Schedule D (Form 941) for a specific transaction or corrects (mark "Corrected") a Schedule D (Form 941) that you previously submitted.
Enter any negative result in parentheses, if possible. For example, if line 6, Column A is "-0-" and line 6, Column B is "6,000," write "(6,000)" in line 6, Column C.
If no Forms W-2 (Copy A) were filed by you, write "-0-" in column B, "Amount you reported to SSA for the tax year."
1. Check the appropriate box to explain the type of transaction for which you are submitting Schedule D (Form 941). See Types of Mergers and Acquisitions on page 1 for details. File Schedule D (Form 941) after either: � a statutory merger or consolidation (Check whether you are an acquired corporation or a surviving corporation.) or � an acquisition for which you are using the alternate procedure under Rev. Proc. 2004-53. (Check whether you are a predecessor or a successor.) 2. Fill in the effective date of the transaction in the box. Make sure that you write the month, day, and year in this format: MM/DD/YYYY. The year must be the same as the calendar year that you write in the box at the top of the schedule. 3. Fill in the contact information about the OTHER PARTY in the transaction by including the other party's EIN, name, trade name (doing business as or d/b/a), complete address, and phone number. Verify the other party's EIN to make sure it is correct.
If you are filing only one Schedule D (Form 941) for the calendar year, leave this part blank. When more than one statutory merger, consolidation, or acquisition occurs during a calendar year, file a separate Schedule D (Form 941) for each transaction. Complete Part 3 for each transaction. For instance, if you have 11 different transactions in a calendar year, you need to file 11 different Schedules D (Form 941). Part 2 would be the same for each schedule. Part 3 would show one of the 11 transactions. For example, the amount entered in Part 2 on line 4 for Column C should equal the total of all 11 entries in Part 3 on line 10 for Column C. 9. Show the number of schedules that you are filing for the year and identify which schedule this is. For example, if you had three different transactions in a calendar year and you are filing a Schedule D (Form 941) to describe the second transaction, fill in "2" and "3" so that the sentence reads: "This is schedule 2 of 3. " 10-14. For purposes of Part 3, Columns A and B, the term "employees affected by the transaction reported on this Schedule D" means those employees who received wages that were reported on Forms 941 filed by one employer but whose wages were reported on Form W-2 (Copy A) filed by another employer as a result of this particular transaction. Report the totals for social security wages, Medicare wages and tips, social security tips, federal income tax withheld, and advance earned income credit (EIC) payments. In Column A, fill in the amount you reported to the IRS for the tax year for employees affected by the transaction reported on this Schedule D (Form 941) for each of the items. Add the totals from all your Forms 941, as corrected by any Forms 941c, and write your answers on the appropriate lines. -3-
Enter any negative result in parentheses, if possible. For example, if line 12, Column A is "-0-" and line 12, Column B is "6,000," write "(6,000)" in line 12, Column C.