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Join nowIn this topic -Track and submit taxable third-party sick pay, you discuss how to complete the 941; however, my Schedule B and my 941 are off by the amount I enter as a negative on line 8. My situation refers to Scenario 2 - Third-party withholds, employer submits W-2. We paid the company's portion, third party paid employee's portion. Do I override the Schedule B OR do I send in my 941 and required Schedule B, with line 12 NOT matching the total on Schedule B?
Hello there, @LR22.
To complete Form 941, you'll have to override line 8 with a negative amount for Social Security Employee and Medicare Employee withheld on the sick pay by the third-part. You can see Section 6 of Publication 15A for details on tax adjustment on third-party sick pay.
I've also added this link about tracking taxable third-party: Track and submit taxable third-party sick pay.
Don't hesitate to drop a comment below if you have other questions. I'm always happy to help. Take care!
Would I also adjust the Schedule B or leave it as is? If I leave as is there is a the difference which equals the amount I enter (as a negative) on on line 8?
Thank you for responding. Would I also adjust the Schedule B or leave as is? If I leave as is, there is a difference equal to the amount I enter on line 8 of the 941. I am required to submit the Schedule B. If I leave as is, I get a message that there are errors on my report because my Schedule B and 941 do not match. Please Advise.
Thanks for getting back to us, @LR22
You'll have to check the items that were used in the payroll. I also suggest contacting out Payroll Support team. This way, they can check what causes the discrepancy.
Due to the pandemic, we have limited staffing and have reduced our support hours. To ensure that you'll be assisted on time, please check out our support hours.
Once everything's fine, you can check how the system populates the data of the 941 form. This way, you'll be guided in completing your 941.
Stay in touch with me if there’s anything else you need, LR22. I'm always here to help.
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