Additional Medicare Tax withholding .... .009= 5 e Add Column 2 from lines 5a,5b,5c, and 5d. 5e 5f Section 3121(q) Notice and Demand - Tax due on unreported tips (see instructions) 6 Total taxes before adjustments. Add lines 3,5e and 5f. 7 Current quarter's adjustment for fractions of cents. 8 Current quarter's adjustment for sick pay. 9 Current quarter's adjustment for tips and group-term life insurance 10 Total taxes after adjustments. Combine lines 6 through 9. 11 Qualified small business payroll tax credit for increasing research activities. Attach . \begin{tabular}{|} 5f \\ 6 \\ 7 \\ 8 \\ 9 \\ 10 \\ 11 \end{tabular} Form 8974. 12 Total taxes after adjustments and nonrefundable credits. Subtract line 11 from line 10.12 13 Total deposits for this quarter, including overpayment applied from a prior quarter and.. .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 here and see instructions . 14 15 Overpayment. If line 13 is more than line 12 , enter the difference here. .... Part 2: Tell us about your deposit schedule and tax liability for this quarter. If you are unsure about whether you are a monthly schedule depositor or a semiweekly schedule depositor, see section 11 of Pub. 15. 16 Check one Line 12 on this return is less than $2,500 or line 12 on the prior quarter was less than $2,500 and you didn't incur a $100,000 next-day deposit obligation during the current quarter. If line 12 for the prior quarter was less than $2,500 but line 12 on this return is $100,000 or more, you must provide a record of your federal tax liability. If you are a monthly schedule depositor, complete the deposit schedule below: if you are a semiweekly schedule depositor, attach Schedule B (Form 941). You were a monthly schedule depositor for the entire quarter. Enter your tax liability for each month and total the liability for the quarter. Tax liability: Month 1 Month 2 Month 3 Total liability for quarter Total must equal line 12 You were a semiweekly schedule depositor for any part of this quarter. Complete Schedule B (Form 941), Report of Tax Liability for Semiweekly Schedule Depositors, and attach it to Form 941. January February March 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), Dec. 12 (Quarter.4) 2 Wages, tips, and other compensation 3 Federal income tax withheld from wages, tips, and other compensation. 4 If no wages, tips, and other compensation are subject to social security or Medicare tax. .... Suddenly called away to an urgent budget meeting, Bob requested that you assist him by preparing Form 941 pages 1 and 2 for the first quarter. Please note that the difference in the tax liability, a few cents, should be adjusted on line 7 ; this difference is due to the rounding of FICA tax amounts. (The difference in the tax liability on line 7 has been entered for you. If an input field is not used in the table leave the field empty; do not enter a zero. Round your calculations to the nearest cent as needed.) Additional information Green Company is located at 2 Square Street, Marblehead, MA 01945. Its EIN is 293458822. The FICA tax rate for Social Security is 6.2% on up to $142,800 in earnings during the year, and Medicare is 1.45% on all earnings. The SUTA tax rate is 5.7% on the first $7,000 of earnings. The FUTA tax rate is 0.6% on the first $7,000 of earnings. Green Company is classified as a monthly depositor for Form 941 taxes. Journal Entries made for Quarter's Tax Payment Additional Medicare Tax withholding .... .009= 5 e Add Column 2 from lines 5a,5b,5c, and 5d. 5e 5f Section 3121(q) Notice and Demand - Tax due on unreported tips (see instructions) 6 Total taxes before adjustments. Add lines 3,5e and 5f. 7 Current quarter's adjustment for fractions of cents. 8 Current quarter's adjustment for sick pay. 9 Current quarter's adjustment for tips and group-term life insurance 10 Total taxes after adjustments. Combine lines 6 through 9. 11 Qualified small business payroll tax credit for increasing research activities. Attach . \begin{tabular}{|} 5f \\ 6 \\ 7 \\ 8 \\ 9 \\ 10 \\ 11 \end{tabular} Form 8974. 12 Total taxes after adjustments and nonrefundable credits. Subtract line 11 from line 10.12 13 Total deposits for this quarter, including overpayment applied from a prior quarter and.. .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 here and see instructions . 14 15 Overpayment. If line 13 is more than line 12 , enter the difference here. .... Part 2: Tell us about your deposit schedule and tax liability for this quarter. If you are unsure about whether you are a monthly schedule depositor or a semiweekly schedule depositor, see section 11 of Pub. 15. 16 Check one Line 12 on this return is less than $2,500 or line 12 on the prior quarter was less than $2,500 and you didn't incur a $100,000 next-day deposit obligation during the current quarter. If line 12 for the prior quarter was less than $2,500 but line 12 on this return is $100,000 or more, you must provide a record of your federal tax liability. If you are a monthly schedule depositor, complete the deposit schedule below: if you are a semiweekly schedule depositor, attach Schedule B (Form 941). You were a monthly schedule depositor for the entire quarter. Enter your tax liability for each month and total the liability for the quarter. Tax liability: Month 1 Month 2 Month 3 Total liability for quarter Total must equal line 12 You were a semiweekly schedule depositor for any part of this quarter. Complete Schedule B (Form 941), Report of Tax Liability for Semiweekly Schedule Depositors, and attach it to Form 941. January February March 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), Dec. 12 (Quarter.4) 2 Wages, tips, and other compensation 3 Federal income tax withheld from wages, tips, and other compensation. 4 If no wages, tips, and other compensation are subject to social security or Medicare tax. .... Suddenly called away to an urgent budget meeting, Bob requested that you assist him by preparing Form 941 pages 1 and 2 for the first quarter. Please note that the difference in the tax liability, a few cents, should be adjusted on line 7 ; this difference is due to the rounding of FICA tax amounts. (The difference in the tax liability on line 7 has been entered for you. If an input field is not used in the table leave the field empty; do not enter a zero. Round your calculations to the nearest cent as needed.) Additional information Green Company is located at 2 Square Street, Marblehead, MA 01945. Its EIN is 293458822. The FICA tax rate for Social Security is 6.2% on up to $142,800 in earnings during the year, and Medicare is 1.45% on all earnings. The SUTA tax rate is 5.7% on the first $7,000 of earnings. The FUTA tax rate is 0.6% on the first $7,000 of earnings. Green Company is classified as a monthly depositor for Form 941 taxes. Journal Entries made for Quarter's Tax Payment