Cruz Company has gathered the information needed to complete its Form 941 for the quarter ended September
Question:
Cruz Company has gathered the information needed to complete its Form 941 for the quarter ended September 30, 2018. Using the information presented below, complete Part 1 of Form 941, reproduced on the shown below.
# of employees for pay period that included September 12—14 employees Wages paid third quarter—$79,750.17
Federal income tax withheld in the third quarter—$9,570.00
Taxable social security and Medicare wages—$79,750.17
Total tax deposits for the quarter—$21,771.83
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Fom 941 for 20--: Employer's QUARTERLY Federal Tax Return (Rev. January 2017) Department of the Treasury - Internal Revenue Service OMB No. 1545-0029 Report for this Quarter of 20- Employor identification numbor (EIN) 0 6. 9. (Check one.) Name (not your trade name) CARLOS 1: January, February, March CRUZ 2: April, May, June Trade name f any) CRUZ COMPANY 3: July, August, September O 4: October, November, December 901 KEYSTONE Address Numbor Stroot Sutto or room numbar Instructions and prior year forms are available at www.irs.gov/form941. SACRAMENTO CA 95916 City State ZIP codo Foraign country rama Foroign provincalcounity Foroign postal codo Read the separate instructions before you complete Form 941. Type or print within the boxes. Answer these questions for this quarter. Part 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) Wages, tips, and other compensation 3 Federal income tax withheld from wages, tips, and other compensation 3 If no wages, tips, and other compensation are subject to social security or Medicare tax O Check and go to line 6. 4 Column 1 Column 2 Taxable social security wages . 5a x 0.124 = Taxable social security tips . 5b x 0.124 = 5c Taxable Medicare wages & tips. x 0.029 = 5d Taxable wages & tips subject to Additional Medicare Tax withholding x 0.009 = 5e Add Column 2 from lines 5a, 5b, 5c, and 5d 5e 5f Section 3121(g) Notice and Demand-Tax due on unreported tips (see instructions) 5f Total taxes before adjustments. Add lines 3, 5e, and 5f 6. Current quarter's adjustment for fractions of cents. Current quarter's adjustment for sick pay Current quarter's adjustments for tips and group-term life insurance 10 Total taxes after adjustments. Combine lines 6 through 9 10 11 11 Qualified small business payroll tax credit for increasing research activities. Attach Form 8974 12 Total taxes after adjustments and credits. Subtract line 11 from line 10 . 12 Total deposits for this quarter, including overpayment applied from a prior quarter and 13 13 overpayments applied from Form 941-X, 941-X (PR), 944-X, or 944-X (SP) filed in the current quarter 14 Balance due. If line 12 is more than line 13, enter the difference and see instructions 14 Check one: 15 Overpayment. If line 13 is more than line 12, enter the difference O Send a refund. Apply to naxt ratum. Next You MUST complete both pages of Form 941 and SIGN it. For Privacy Act and Paperwork Reduction Act Notice, see the back of the Payment Voucher. Form 941 (Rev. 1-2017) Cat. No. 17001Z Co CO
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Form 941 for 20 Employers QUARTERLY Federal Tax Return Rev January 2017 Department of the Treasury Internal Revenue Service 00 0 0 0 6 5 Employer iden...View the full answer
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