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Form 941 Schedule B 2026 is the Report of Tax Liability for Semiweekly Schedule Depositors that certain U.S. employers must attach to their quarterly Employer’s Quarterly Federal Tax Return. It details daily employment tax liabilities (federal income tax withheld plus the employer and employee shares of Social Security and Medicare taxes) so the IRS can verify that deposits were made on time.
The form itself carries a March 2024 revision date, while the current instructions are dated June 2025. Employers use these with the March 2026 revision of Form 941 for all four quarters of 2026.
Who Must File Schedule B (Form 941) in 2026?
You must file Schedule B if you are a semiweekly schedule depositor. You qualify as one if either of the following applies:
- You reported more than $50,000 in employment taxes during the lookback period, or
- You accumulated a tax liability of $100,000 or more on any single day in the current or prior calendar year (the $100,000 next-day deposit rule).
Do not complete Schedule B if your total tax liability on Form 941, line 12, is less than $2,500 for the quarter (and you did not trigger the $100,000 rule). Monthly schedule depositors report monthly totals directly on Form 941, line 16, instead.
If you become a semiweekly depositor mid-quarter under the $100,000 rule, complete Schedule B for the entire quarter.
Lookback Period for 2026 Deposit Schedule
Your deposit schedule for all of calendar year 2026 is fixed by the four consecutive quarters ending June 30, 2025:
- July 1, 2024 – September 30, 2024
- October 1, 2024 – December 31, 2024
- January 1, 2025 – March 31, 2025
- April 1, 2025 – June 30, 2025
If you filed Form 944 in 2024 or 2025, the lookback period is the entire 2024 calendar year. Amendments filed on Form 941-X do not change the lookback calculation.
Key 2026 Updates Affecting Form 941 and Schedule B
- Social Security tax rate remains 6.2% each for employer and employee; the wage base rises to $184,500.
- Medicare tax rate stays 1.45% each (no wage base); Additional Medicare Tax of 0.9% still applies to employee wages over $200,000.
- Household employee threshold: $3,000; election worker threshold: $2,500.
- Aggregate filers (section 3504 agents, CPEOs, or other third parties) must identify themselves in a new section on Form 941 and may need Schedule R.
- Direct deposit of Form 941 refunds is available; balance-due payments should be made electronically.
- The March 2026 Form 941 (and its instructions) is expected to be used for all four 2026 quarters unless legislation requires a later revision.
These updates affect the amounts reported on Schedule B but do not change the basic structure or filing rules of the schedule itself.
How to Complete Schedule B (Form 941) for 2026
- Header information
Enter your exact EIN and business name exactly as shown on Form 941. Enter the calendar year and check the correct quarter box (must match Form 941). - Daily tax liability entries
The form has three monthly grids, each with lines 1–31.- Report the full tax liability (withheld income tax + employer and employee Social Security and Medicare taxes, including any Additional Medicare Tax) on the date you paid the wages—not the date the liability accrued or the date you deposited.
- Example: Wages for a period ending December 31, 2025, paid on January 6, 2026, go on Month 1, line 6 of the first-quarter Schedule B.
- Monthly and quarterly totals
Add the daily amounts for each month, then add the three monthly totals. The “Total liability for the quarter” must equal Form 941, line 12. - Credits
If you claim the qualified small business payroll tax credit for increasing research activities (Form 941, line 11 / Form 8974), reduce the daily liabilities on Schedule B accordingly (first against the employer Social Security portion up to $250,000 per quarter, then against the employer Medicare portion). Never reduce any daily entry below zero.
Do not enter the amounts of your deposits on Schedule B—the IRS already receives that information electronically via EFTPS.
2026 Due Dates for Form 941 (and Attached Schedule B)
| Quarter | Period Covered | Due Date* |
|---|---|---|
| 1 | Jan–Mar 2026 | April 30, 2026 |
| 2 | Apr–Jun 2026 | July 31, 2026 |
| 3 | Jul–Sep 2026 | October 31, 2026 |
| 4 | Oct–Dec 2026 | January 31, 2027 |
*If the due date falls on a weekend or legal holiday, file on the next business day. Employers who have deposited the full amount of taxes for the quarter on time receive an automatic 10-day extension (e.g., Q2 due date becomes August 10 if deposits were timely).
Penalties for Incomplete or Missing Schedule B
Failure to attach a properly completed Schedule B when required can trigger an “averaged” Federal Tax Deposit (FTD) penalty of 2%–10%. The IRS averages the liability over the quarter and applies deposits in the order received, often resulting in under-deposit findings even when total deposits equal total liability.
Practical Tips for U.S. Employers
- Confirm your deposit schedule early each year using the lookback period totals from your prior Forms 941.
- Use payroll software or an authorized e-file provider that automatically generates Schedule B when you are a semiweekly depositor.
- Keep payroll records that clearly show the date wages were actually paid.
- If you discover an error that does not change the total liability, you may file an amended Schedule B (write “Amended” at the top) with the address shown on any penalty notice.
- For the latest official forms and instructions, always download from IRS.gov/Form941 and IRS.gov/instructions/i941sb.
Accurate completion of Form 941 Schedule B for 2026 protects employers from unnecessary deposit penalties and keeps quarterly payroll tax compliance straightforward. When in doubt, consult Publication 15 (Circular E) or a qualified tax professional, and verify all figures against the official IRS instructions before filing.