For the third quarter of the year, Romano Construction, of 7144 Stone Boulevard, San Francisco, California 94421, received Form 941 from the District Office of the Internal Revenue Service. The identification number for Romano Construction is 77-627116. Its payroll for the quarter ended September 30 is as follows:

The company has had six employees throughout the year. Assume that the Social Security tax is 6.2 percent of the first $62,700 and that the Medicare tax is 1.45 percent of all earnings. The employer matches the employees’ FICA (Social Secu¬
rity and Medicare) taxes. There are no taxable tips, adjustments, backup with¬
holding, or earned income credits. Romano Construction has submitted the fol¬
lowing federal tax deposits and written the accompanying checks:

Instructions Complete Form 941 dated October 29 for the owner, Anthony Romano.

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TAXABLE EARNINGS SOCIAL SECURITY NAME Lamb, C. C. TOTAL EARNINGS UNEMPL 327600 94 200 Marr, G. L. Pope, L. E. 664200 760000 327600 664 200 760000 Potts, W. A. 604800 Rich, M. C. 410000 76000 Shell, V. A. 10 14000 378 06 00 170 200 604800 410000 10 140 00 37 806 00 MEDICARE 327600 664 200 760000 604800 410000 10 14 000 3780600 FEDERAL INCOME TAX 29700 694 00 83600 665 00 37 200 12 16 00 408000 DEDUCTIONS SOCIAL SECURITY TAX 203 11 41180 4 7 1 20 374 98 MEDICARE TAX 4 7 50 96 31 1 10 20 87 70 59 45 254 20 628 68 147 03 23 43 97 548 19