b. Employer’s Quarterly Federal Tax Return, Form 941. The form is signed by you as president on January 31, 20–.
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Hint: Line 7 instructions. Fill in Form 941 through line 6, and then fill in Part 2, line 16 or Schedule B. Take that information and fill in line 13. Lines 12 and 13 must equal. If the amounts are not the same, correct by entering amount to make equal on line 7. Line 7 differences are caused by how calculations are made on Form 941 and the amounts withheld from employee’s earning plus the employer’s payroll tax amounts each pay.
Form941 for 20–:
(Rev. January 2019) |
Employer’s QUARTERLY Federal Tax Return
Department of the Treasury — Internal Revenue Service |
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OMB No. 1545-0029 |
| Employer identification number (EIN) |
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| Name (not your trade name) |
QUALITY REPAIRS |
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| Address |
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Street |
Suite or room number |
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| Foreign country name |
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Foreign province/county |
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Foreign postal code |
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Report for this Quarter of 20–
(Select one.) |
January, February, March
Go to www.irs.gov/Form941 for instructions and the latest information. |
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| Read the separate instructions before you complete Form 941. Type or print within the boxes. |
| Part 1: |
Answer these questions for this quarter. |
| 1 |
Number of employees who received wages, tips, or other compensation for the pay period including: Mar. 12 (Quarter 1), June 12 (Quarter 2), Sept. 12 (Quarter 3), or Dec. 12 (Quarter 4) |
1 |
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| 2 |
Wages, tips, and other compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . |
2 |
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| 3 |
Federal income tax withheld from wages, tips, and other compensation . . . . . . . . . . . . . . . . . . . . . . . . . |
3 |
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| 4 |
If no wages, tips, and other compensation are subject to social security or Medicare tax |
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☐ Check and go to line 6. |
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Column 1 |
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Column 2 |
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| 5a |
Taxable social security wages . . . . . |
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x .124 = |
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| 5b |
Taxable social security tips . . . . . . . . |
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x .124 = |
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| 5c |
Taxable Medicare wages & tips . . . . . |
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x .029 = |
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| 5d |
Taxable wages & tips subject to
Additional Medicare Tax withholding |
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x .009 = |
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| 5e |
Add Column 2 from lines 5a, 5b, 5c, and 5d . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . |
5e |
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| 5f |
Section 3121(q) Notice and Demand—Tax due on unreported tips (see instructions) . . . . . . . . . . . . . . . |
5f |
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| 6 |
Total taxes before adjustments. Add lines 3, 5e, and 5f . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . |
6 |
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| 7 |
Current quarter’s adjustment for fractions of cents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . |
7 |
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| 8 |
Current quarter’s adjustment for sick pay . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . |
8 |
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| 9 |
Current quarter’s adjustments for tips and group-term life insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . |
9 |
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| 10 |
Total taxes after adjustments. Combine lines 6 through 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . |
10 |
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| 11 |
Qualified small business payroll tax credit for increasing research activities. Attach Form 8974 . . . . . . . |
11 |
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| 12 |
Total taxes after adjustments and credits. Subtract line 11 from line 10 . . . . . . . . . . . . . . . . . . |
12 |
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| 13 |
Total deposits for this quarter, including overpayment applied from a prior quarter and overpayments applied from Form 941-X, 941-X (PR), 944-X, or 944-X (SP) filed in the current quarter . . |
13 |
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| 14 |
Balance due. If line 12 is more than line 13, enter the difference and see instructions . . . . . . . . . . . . . . . . . . . . |
14 |
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| 15 |
Overpayment. If line 13 is more than line 12, enter the difference Check one: ☐ Apply to next return. ☐ Send a refund. |
| ▶ You MUST complete both pages of Form 941 and SIGN it. |
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