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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.

View Pay Run Information #

Line 1 - # of Employees #

Use the total of the ‘Employees’ field on IPVP from all of the pay runs that qualify for the data on the F941 to be completed.

F941_01.JPG

Define Elements #

Create an element on IPPE that contains all of the PC's that need to be reported. Below is a list of the pay components that could be included. Your company may not require all of them or may require others.

Line 2 – Total Wages #

Fed Taxable Wages	PC Usage	6004
Fed Supp Wages	PC Usage	6005

Line 3 – Total Tax #

Fed Tax	PC Usage	6001
Add. Fed Tax	PC Usage	6002
Supp Fed Tax	PC Usage	6003

Line 6 – SS Wages #

FICA Wages

PC Usage

6202

Line 7 – Medicare Wages #

Medicare Wages

PC Usage

6502

Line 8 – Total SS and Medicare #

FICA Tax EE	PC Usage	6201
FICA Tax ER	PC Usage	6210
Medicare Tax EE	PC Usage	6501
Medicare Tax ER	PC Usage	6503

Line 12 - EIC #

EIC PC

Usage

6101

Produce Pay Totals Register #

User may now run RPREGT using the element created to obtain information to aid in completing the F941 form. 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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Notes #

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