Learn how to prepare and print Form 941, Schedule B, and Form 940.

Are you getting ready to prepare your tax forms? We explain how to prepare and print Form 940, Schedule B and Form 941.

Forms 941, Schedule B and 940 explained

The following describes the various forms you can file.

Form 941 is a quarterly form. Your Form 941 filing due date is the last day of the month that follows the end of the quarter. See IRS 941 filing instructions.

Schedule B is filed with Form 941, Employer's Quarterly Federal Tax Return, or Form 941-SS, Employer's Quarterly Federal Tax Return (American Samoa, Guam, the Commonwealth of the Northern Mariana Islands, and the U.S. Virgin Islands). See Instructions for Schedule B - Form 941.

Form 940 is an annual form. Your Form 940 filing due date is January 31. See IRS 940 filing instructions.

Before you begin ensure you have the latest release of your QuickBooks Desktop program and the latest tax table update.

Prepare Form 941/Schedule B or Form 940

There are three fields you should never edit on a payroll tax form. Do not change the following fields:

  • Filing period: To specify a different filing period, close your existing form and create a new one. Editing the filing period on the form doesn't automatically change the other fields on the form.
  • Totals: You should not change any field that is a sum of other fields on the form. QuickBooks Desktop calculates these automatically. To change a total, change one of the fields used to calculate it.
  • Employer Identification number (EIN) or Social Security number (SSN): To edit an EIN or a SSN, close the payroll tax form, edit the information in the appropriate place in QuickBooks Desktop, and then start a new form. Do not save your form and open it again after editing the information in QuickBooks Desktop, because QuickBooks Desktop doesn't export new data into existing forms.

Prepare Form 941/Schedule B or Form 940

  1. In QuickBooks Desktop, choose Employees, then Payroll Forms & W-2s, then Process Payroll Forms.
  2. In the File Forms section, select File Form. Choose from:

    • Quarterly Form 941/Schedule B - Interview for your Form 941/Schedule B;
    • Annual Form 940/Sch. A-Employer's Annual Federal Unemployment (FUTA) Tax Return
  3. Select the drop-down arrows and select the Year or Quarter and Quarter Ending dates. Select OK. (Although QuickBooks Desktop collects and retains the 941/940 information from previous years, QuickBooks Desktop always uses the most current year form available to display the information.)

  4. Complete the interview. Select Next to proceed to your form.
  5. Review all the information on your Form to make sure it's complete.
    Before completing your Form, ensure that all tax payments relating to that Form's reported taxes (Federal Withholding, Social Security, and Medicare for Form 941 and Federal Unemployment for Form 940) are properly recorded in QuickBooks Desktop.

    The 941 form in QuickBooks Desktop has to have the correct payment frequency selected in order to determine if a Schedule B should be included when e-filing the form.

    If the wrong frequency is selected (anything other than semi-weekly for the frequency), the Schedule B will not be e-filed and you will receive a notice.

  6. If you need to enter information in a field that is currently blank, enter it directly in the field. The new data displays in blue. (It's not blue when you print the form.)
  7. If you need to edit information that is incorrect: Right-click in the field and choose OverrideIf you need to undo an override, right-click in the field and choose Cancel Override.
  8. Enter the new data in the Override box and press Tab. The new data displays in green to indicate that you manually changed data exported from QuickBooks Desktop. (It's not green when you print the form.)
  9. To read more about the form, select View details about this form. Select Check for Errors to identify and fix any form errors. Save and Close to save your changes and come back later.
  10. Select Print for Your Records to print your form.
  11. Select Submit Form to electronically file your form.

If you have Enhanced Payroll you may also save the form as a PDF by clicking Save as PDF at the bottom of the form.

You can print the PDF form you saved by opening up the form and clicking File at the top toolbar of your PDF form. Select Print from the menu list.