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.
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
The report will print the details for each employee, this is for balancing purposes if required. The data for the 941 form will come from the totals page.
Screen captures are meant to be indicative of the concept being presented and may not reflect the current screen design.
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