Prior Period Adjustment Example. Summary: This is line 15 of Form 941 to illustrate the adjustment of tax liability reported by the employer with items included
as described
in the text.
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“15. Check one: checkbox blank. Line 10 is less that $2,500, go to Part 3.”
“ Checkbox checked. You were a monthly schedule depositor for the entire quarter. Fill out your tax liability for each month.
Then go to Part
3.”
“Tax liability: Month 1. Entry box containing zero.”
“Month 2. Entry box containing $4000.00”
“Month 3. Entry box containing $4500.00”
“Total. Entry box containing $8500.00. Total must equal line 10.”
“Checkbox blank. You were a semiweekly schedule depositor for any part of this quarter. Fill our Schedule B (Form 941), Report
of Tax Liability
for Semiweekly Schedule Depositors, and attach it to this form.”
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“17(c) Third month liability” field contains 4500.00
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“17(d) Total liability for quarter” field contains 8500.00
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