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!!!FORM 941 - EMPLOYER'S QUARTERLY FEDERAL TAX RETURN

The Form 941 – Employer’s Quarterly Federal Tax Return is a hard copy that must be completed manually. The following are the steps recommended to aid in completing the form. 

!!Define Elements 

Create an element in [IPPE] (941 REPORT) that contains all of the PC's that need to be included in the report.  Below is a list of the pay components that could be included. Your company may not require all of them or may require others. 
\\
||Description||PC Usage|| PC Code|| 941 Line
|Fed Taxable Wages|6004| |2 
|Fed Supp Wages |6005| |2 
|Fed Tax|6001| |3 
|Add. Fed Tax |6002| |3 
|Supp Fed Tax |6003| |3 
|FICA Wages |6202| |6 
|Medicare Wages|6502| |7 
|FICA Tax EE|6201| |8
|FICA Tax ER |6210| |8 
|Medicare Tax EE|6501| |8 
|Medicare Tax ER|6503| |8 
|EIC PC|6101| |12 

!Line 2 – Total Wages
!Line 3 – Total Tax
!Line 6 – SS (FICA) Wages 
!Line 7 – Medicare Wages 
!Line 8 – Total SS and Medicare 
!Line 12 - EIC 
 
 
!!View Pay Run Information 

!Line 1 - # of Employees 
For the quarterly report, there is a requirement to count the number of employees in the pay period that contains the 12th. (i.e. MArch 12 for the first quarter). \\  \\

* Open IPVT
* Enter Query Mode
* Select "Closed" for the Stage and enter the pay period that includes March 12 into the Period field.
* Execute the query
* The number of employees processed will be displayed in the Employees field. \\ Use this number for line 1

 
 




!!Produce Pay Totals Register 
User may now run [RPREGT] using the element created to obtain information to aid in completing the F941 form. 

%%information Run [RPREGT] for the current quarter to obtain information for Lines, 2, 3, 6, 7, 8, and 12.  Run [RPREGT] for the previous quarter and compare it to what was submitted on the F941 for the previous quarter to obtain information for lines 4 and 5.%% 
 
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