Calculate 4th quarter taxes for TCLH Industries, a manufacturer of cleaning products. Then complete Forms 941 and 940 as of year-end. Recall from the Form 941 Rounding Considerations section that quarter-and year-end tax figures should not be calculated based on the total taxable earnings for the respective quarter or year. Instead, to avoid rounding discrepancies, these tax figures should be determined for each employee by adding the individual taxes across each pay period.

1. Calculate total federal income tax, Social Security tax, and Medicare tax for the 4th quarter. Assume that Zachary Fox earns the same amount for each of the final three weeks of the year (the only weeks in 2019 during which he worked) and that Calvin Bell earned the same amount during each of the 52 weeks of the year. Further assume that no changes to voluntary deductions were requested by any employee during 2019. Note that the final week of the year (beginning on December 23, 2019) is a full workweek (the 52nd workweek of 2019).

To assist in the completion of this chapters continuing payroll problem, the following employee earnings records display year-to-date earnings prior to the current pay period. As a result, the 4th Quarter row excludes the final three weeks of the year. Note that the current pay period is the first pay period for Zachary Fox (SSN 121-21-2121, address: 1483 Independence Road, Durham, NC 27701); therefore, his employee earnings record is not displayed below, as it contains no previous earnings information.

Name Address 55# 1st Quarter n/a 2nd Quarter n/a 3rd Quarter n/a 4th Quarter n/a Employee Earnings Record Calvin Bell Marital Status Single 2 2222 Sacker Place Durham, NC 27701 Fed. Withholding Allow. State Withholding Allow. 1 500-00-0000 Earnings Deductions n/a $3,796.00 n/a n/a $1,637.09 $5,433.09 $208.00 $255.32 $336.83 $78.78 $326.04 $ n/a $3,796.00 n/a n/a $1,637.09 $5,433.09 $208.00 $255.32 $336.83 $ 78.78 $326.04 n/a $3,796.00 n/a n/a $1,637.09 $5,433.09 $208.00 $255.32 $336.83 $78.78 $326.04 $ n/a $2,920.00 n/a n/a $1,259.30 $4,179.30 $160.00 $196.40 $259.10 $ 60.60 $250.80 $ $195.00 $91.00 $195.00 $ 91.00 $195.00 $ 91.00 $150.00 $ 70.00 9 $3,942.12 $3,942.12 $3,942.12 $3,032.40 ZOOM + David Alexander 1 Freedom Blvd. Durham, NC 27700 454-54-5454 8 n/a $ 52,650.00 n/a n/a $ $2,650.00 n/a n/a $ 52,450.00 n/a n/a $ 40,500.00 n/a Michael Sierra 200 Mississippi Road Durham, NC 27701 212-12-3212 Name Address 55# X 1st Quarter n/a 2nd Quarter n/a 3rd Quarter n/a 4th Quarter n/a Name Address 55 1st Quarter n/a n/a 2nd Quarter 2/02/0 n/a n/a 3rd Quarter n/a 4th Quarter n/a Earnings Earnings $ 31,850.00 /a $ 31,850.00 / $ 31,850.00 n/a $ 24,500.00 n/a n/a 5 n/a S n/a $ S n/a $ n/a n/a n/a n/a $ $ $ S Employee Earnings Record Marital Status Fed. Withholding Allow. State Withholding Allow Deductions A 9515.48 5 2316.60 S 3,264.30 $763.49 5 6.318.00 S 9,515.48 $ 2,316.60 $3,264.30 $ 763.49 $ 6,318.00 S 9,515.48$ 2,316.60 $ 1,711.20 $763.49 $ 6,318.00 $ 7,319.60 $ 1,782.00 $ $ 587.30 $4,860.00 $ Employee Earnings Record Marital Status Married 4 Fed. Withholding Allow State Withholding Allow 3 Deductions 2 $ 31,350.00 $1,220.10 $ 1,500.00 $ 1,914.40 $452.40 5 $ 31,450.00 $1,220.10 $ 1,560.00 $1,934.40 $452.40 $ $ 31,850.00 $ 3.220.10 $ 1.560.00 $1,934.40 $452.40 $ 524,500.00 $ 2,477.00 $ 1,200.00 5 1,488.00 S 348.00 S $ 52,650.00 $ $ 52,650.00 $ $ 52,450.00 $ $ 40,500.00 $ Single 1 1 Page $260.00 $ $ 260.00 $ $200.00 1 $ 200.00 $ 2 260.00 $65.00 $ 650.00 $260.00 $ 65.00 $ 650.00 $260.00 $ 65.00 $ 650.00 $ 200.00 $ 50.00 $ 500.00 of 2 $ 30,212.13 $ 30,212.13 $31,765.21 $ 25,751.10 $ 21,708.10 $ 21,708.10 S 23,708.10 $ 18,237.00 ZOOM + Name Address 55# 1st Quarter n/a 2nd Quarter n/a 3rd Quarter n/a 4th Quarter n/a Employee Earnings Record Calvin Bell Marital Status Single 2 2222 Sacker Place Durham, NC 27701 Fed. Withholding Allow. State Withholding Allow. 1 500-00-0000 Earnings Deductions n/a $3,796.00 n/a n/a $1,637.09 $5,433.09 $208.00 $255.32 $336.83 $78.78 $326.04 $ n/a $3,796.00 n/a n/a $1,637.09 $5,433.09 $208.00 $255.32 $336.83 $ 78.78 $326.04 n/a $3,796.00 n/a n/a $1,637.09 $5,433.09 $208.00 $255.32 $336.83 $78.78 $326.04 $ n/a $2,920.00 n/a n/a $1,259.30 $4,179.30 $160.00 $196.40 $259.10 $ 60.60 $250.80 $ $195.00 $91.00 $195.00 $ 91.00 $195.00 $ 91.00 $150.00 $ 70.00 9 $3,942.12 $3,942.12 $3,942.12 $3,032.40 ZOOM + David Alexander 1 Freedom Blvd. Durham, NC 27700 454-54-5454 8 n/a $ 52,650.00 n/a n/a $ $2,650.00 n/a n/a $ 52,450.00 n/a n/a $ 40,500.00 n/a Michael Sierra 200 Mississippi Road Durham, NC 27701 212-12-3212 Name Address 55# X 1st Quarter n/a 2nd Quarter n/a 3rd Quarter n/a 4th Quarter n/a Name Address 55 1st Quarter n/a n/a 2nd Quarter 2/02/0 n/a n/a 3rd Quarter n/a 4th Quarter n/a Earnings Earnings $ 31,850.00 /a $ 31,850.00 / $ 31,850.00 n/a $ 24,500.00 n/a n/a 5 n/a S n/a $ S n/a $ n/a n/a n/a n/a $ $ $ S Employee Earnings Record Marital Status Fed. Withholding Allow. State Withholding Allow Deductions A 9515.48 5 2316.60 S 3,264.30 $763.49 5 6.318.00 S 9,515.48 $ 2,316.60 $3,264.30 $ 763.49 $ 6,318.00 S 9,515.48$ 2,316.60 $ 1,711.20 $763.49 $ 6,318.00 $ 7,319.60 $ 1,782.00 $ $ 587.30 $4,860.00 $ Employee Earnings Record Marital Status Married 4 Fed. Withholding Allow State Withholding Allow 3 Deductions 2 $ 31,350.00 $1,220.10 $ 1,500.00 $ 1,914.40 $452.40 5 $ 31,450.00 $1,220.10 $ 1,560.00 $1,934.40 $452.40 $ $ 31,850.00 $ 3.220.10 $ 1.560.00 $1,934.40 $452.40 $ 524,500.00 $ 2,477.00 $ 1,200.00 5 1,488.00 S 348.00 S $ 52,650.00 $ $ 52,650.00 $ $ 52,450.00 $ $ 40,500.00 $ Single 1 1 Page $260.00 $ $ 260.00 $ $200.00 1 $ 200.00 $ 2 260.00 $65.00 $ 650.00 $260.00 $ 65.00 $ 650.00 $260.00 $ 65.00 $ 650.00 $ 200.00 $ 50.00 $ 500.00 of 2 $ 30,212.13 $ 30,212.13 $31,765.21 $ 25,751.10 $ 21,708.10 $ 21,708.10 S 23,708.10 $ 18,237.00 ZOOM +