Filling out Federal Forms by dominic.cecilia

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									                        Steps in Filling out Form 941 – Employer’ Quarterly Federal Tax Return

                                                                      Line 1 – Number of employee on March 12th
                                                                      Line 2 – Gross Wages for Federal and State from Summary
                                                                               sheet for the quarter.
                                                                      Line 3 – Federal withholding from Summary sheet for the
                                                                               quarter.
                                                                      Line 4 – Blank unless making adjustments for withheld
                                                                               income tax for a previous quarter.
                                                                      Line 5 – Total of Lines 3 and 4.
                                                                      Line 6a – Gross Wages from Summary sheet for the quarter.
                                                                      Line 6b – Line 6a X 12.4%
                                                                      Lines 6c & 6d – Blank
                                                                      Line 7a – Gross Wages from Summary sheet for the quarter.
                                                                      Line 7b – Line 7a X 2.9%
                                                                      Line 8 – Total of Lines 6b, 6d & 7b.
                                                                      Line 9 – Blank unless making adjustment – see instructions.
                                                                      Line 10 – Total of Lines 8 & 9
                                                                      Line 11 – Total of Lines 5 & 10
                                                                      Line 12 – Advance earned income credit payments – see
                                                                                instructions.
                                                                      Line 13 – Subtract Line 12 from Line 11
                                                                      Line 14 – Total deposits for the quarter, including any
                                                                                overpayment from previous quarter. Add together
                                                                                the Federal deposits from the month spreadsheets
                                                                                in the quarter, plus any overpayment shown on the
                                                                                previous quarter’s 941.
                                                                      Line 15 – Balance due – subtract Line 14 from Line 13. If a
                                                                                balance is owed it is sent in with this form NOT
                                                                                deposited at the bank. There is a Voucher – Form
                                                                                941-V which must accompany the payment OR
                                                                      Line 16 – Overpayment – the amount that Line 14 is greater
                                                                                than Line 13.


Line 17a – Gross Wages for 1st month of the quarter X 12.4%, plus gross wages of 1 st month of the quarter X 2.9%, plus federal
          withholding for 1st month of quarter.
Line 17b – Gross Wages for 2nd month of the quarter X 12.4%, plus gross wages of 2 nd month of the quarter X 2.9%, plus federal
          withholding for 2nd month of quarter.
Line 17c – Gross Wages for 3rd month of the quarter X 12.4%, plus gross wages of 3 rd month of the quarter X 2.9%, plus federal
          withholding for 3rd month of quarter.
Line 17d – Total of Lines 17a, b & c. Should match Line 13
                                                                                                    You should sign Form 941
                                                                                                    as the Designee and the
                                                                                                    Signature should be the
                                                                                                    Treasurer.




Source – Instructions for Form 941                                                                                      October, 2003

								
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