Continuing Payroll Project: Prevosti Farms and Sugarhouse (Static) The first quarter tax return needs to be filed for Prevosti Farms and Sugarhouse by April 15, 2020. For the purpose of the taxes, assume the second February payroll amounts were duplicated for the March 6 and March 20 payroll periods and the new benefit elections went into effect as planned. The form was completed and signed on April 10, 2020. Benefit Information Health Insurance Life Insurance Long-term Care FSA 401(k) Gym Exempt Federal PICA Yes Yes Yes Yes Yes Yes Yes Yes Yes No No No Owner's name: Toni Prevosti Address: 820 Westminster Road, Bridgewater, VT 05520. Phone: 802-555-3456 Number of employees: 8 Gross quarterly wages: $31,545.10 Federal income tax withheld: $367.00 401(k) contributions: $1,232.90 Insurance withheld: $4,080.00 Gym membership: $90.00 Monthly Deposits Month 1 Month 2 Month 3 Tumount $ 0 $ 1,900.53 $ 2,682.52 Required: Complete Form 941 for Prevosti Farms and Sugarhouse. Prevosti Farms and Sugarhouse was assigned EIN 22-6654454. -(NOTE): Instructions on format can be found on certain cells within the forms. Complete this question by entering your answers in the tabs below. 941 PG 1 941 PG 2 2 Page 1 of Form 941. (Round your final answers to 2 decimal places.) Form 941 for 2020: : Employer's QUARTERLY Federal Tax Return 950120 Department of the Treasury - Internal Revenue Service OMB No 1545-0029 Employer identification number (EIN) Report for this Quarter ol 2020 (Check one.) Name (not your trade name) 1: January February March Trade name (if any) 02 April May June Address 03: July, August September Number Street Suite or room number 104 October November, December City Slate (NN) ZIP code Instructions and prior year forms are available at Foreign country name Foreign Province county Foreign Postal Code www.irs.gowform41 Read the separate instructions before you complete Form 941. Type or print within the boxes. Part 1: Answer these questions for this quarter. 1 Number of employees who received wages, tips, or other compensation for the pay period including: June 12 (Quarter 2). September 12 (Quarter 3), or December 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 Check and go to line 6. Column 1 Column 2 5a Taxable social security wages x 0.124 5a Qualified sick leave wages x 0.052 5a Qualified family leave wages x x 0.062 5b Taxable social security tips x 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 Sd 5f Section 3121(a) Notice and Demand - Tax due on unreported tips see instructions) 6 Total taxes before adjustments. Add lines 3, 5, and 7 Current quarter's adjustments for fractions of cents 8 Current quarter's adjustments for sick pay 9 Current quarter's adjustments for tips and group-term life insurance 10 Total taxes after adjustments. Combine lines 6 through 9 11a Qualified small business payroll tax credit for increasing research activities. Attach Form 1974 11b Nonrefundable portion of credit for qualified sick and family leave wages from Worksheet 1 11 Nonrefundable portion of employee retention credit from Worksheet 1 11d Total nonrefundable credits Add lines 11a, 11b, and 110 12 Total taxes after adjustments and credits. Subtract line 11d from line 10 13 Total deposits for this quarter, including overpayment applied from a prior quarter and overpayments applied from Form 941-X, 941-X (PR). 944-X or 944-X (SP) filed in the current quarter 13b Deferred amount of the employer share of social security tax 13c Refundable portion of credit for qualified sick and family leave wages from Worksheet 1 13d Refundable portion of employee retention credit from Worksheet 1 13e Total deposits, deferrals, and refundable credits. Add lines 13a, 135, 136, and 130 13f Total advances received from filing Forms) 7200 for the quarter 13g Total deposits, deferrals, and refundable credits less advances. Subtract line 134 from line 13 14 Balance due If line 12 is more than line 13, enter the difference and see instructions , 15 Overpayment If line 13 is more than line 12, enter the difference , Check one: 10 11a 11b 110 11d REXEE BEEN 13a 13b 130 13d 130 131 139 Apply to next return Sand a refund You MUST complete both pages of Form 941 and SIGN It. Next For Privacy Act and Paperwork Reduction Act Notice, see the back of the Payment Voucher. Cat No. 170012 Form 941 (Rev. 1-2020) THIS FORM IS A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF. DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL. 2021 McGraw-Hill Education. The first quarter tax return needs to be filed for Prevosti Farms and Sugarhouse by April 15, 2020. For the purpose of the taxes, assume the second February payroll amounts were duplicated for the March 6 and March 20 payroll periods and the new benefit elections went into effect as planned. The form was completed and signed on April 10, 2020. Exempt Federal FICA Yes Yes Yes Yes Yes Yes Yes Yes No No No Benefit Information Health Insurance Life Insurance Long-term Care FSA 401(k) Gym Yes Owner's name: Toni Prevosti Address: 820 Westminster Road, Bridgewater, VT 05520. Phone: 802-555-3456 Number of employees: 8 Gross quarterly wages: $31,545.10 Federal income tax withheld: $367.00 401(k) contributions: $1,232.90 Insurance withheld: $4,080.00 Gym membership: $90.00 Monthly Deposits Month 1 Month 2 Month 3 Imount $ 0 $ 1,900.53 $ 2,682.52 Required: Complete Form 941 for Prevosti Farms and Sugarhouse. Prevosti Farms and Sugarhouse was assigned EIN 22-6654454. (NOTE): Instructions on format can be found on certain cells within the forms. Complete this question by entering your answers in the tabs below. 941 PG 1 941 PG 2 Page 2 of Form 941. (Round your final answers to 2 decimal places.) . Name (not your trade name Employer identification number(LIN) 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 return for 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 ine 12 for the prior quarter was less than $2,500 but line 12 on this retum 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). Go to Part 3 You were a monthly schedule depositor for the entire quarter. Enter your tax liability for each month and total liability for the quarter, then go to Part 3 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. Go to Part 3 Part 3: Tell us about your business. If a question does NOT apply to your business, leave it blank. , . 17 if your business has closed or you stopped paying wages Check here, and enter the final date you paid wages (mm/dd/yyyy) Check here 19 20 21 22 18 If you are a seasonal employer and you do not have to file a return for every quarter of the year 19 Qualified health plan expenses allocable to qualified sick leave wages 20 Qualified health plan expenses allocable to qualified family leave wages 21 Qualified wages for the employee retention credit 22 Qualified health plan expenses allocable to wages reported on line 21 23 Credit from Form 5004-C, line 11, for this quarter 24 Qualified wages paid March 13 through March 31, 2020, for the employee retention credit (use this ( line only for the second quarter filing of Form 941) 25 Qualified health plan expenses allocable to wages reported on line 24 (use this line only for the second quarter filing of Form 941) Part 4: May we speak with your third-party designee? 23 24 25 Do you want to allow an employee, a paid tax preparer, or another person to discuss this return with the IRS? See the instructions for details. Yes. Designee's name and phone number No. Select a s-digit Personal Identification Number (PIN) to use when talking to IRS Part 5: Sign here. You MUST complete both pages of Form 941 and SIGN it. Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. Sign your name here Print your name here Print your title here Date (mm/ddyyyy 04/10/2020 Best daytime phone (XXXXXXXX) Paid Preparer Use Only Check if you are self-employed Preparar's name PTIN Preparer's signature Fim's name for your self employed) Address Date (mm/dd/yyyy JEIN Phone City State (NN ZIP code Continuing Payroll Project: Prevosti Farms and Sugarhouse (Static) The first quarter tax return needs to be filed for Prevosti Farms and Sugarhouse by April 15, 2020. For the purpose of the taxes, assume the second February payroll amounts were duplicated for the March 6 and March 20 payroll periods and the new benefit elections went into effect as planned. The form was completed and signed on April 10, 2020. Benefit Information Health Insurance Life Insurance Long-term Care FSA 401(k) Gym Exempt Federal PICA Yes Yes Yes Yes Yes Yes Yes Yes Yes No No No Owner's name: Toni Prevosti Address: 820 Westminster Road, Bridgewater, VT 05520. Phone: 802-555-3456 Number of employees: 8 Gross quarterly wages: $31,545.10 Federal income tax withheld: $367.00 401(k) contributions: $1,232.90 Insurance withheld: $4,080.00 Gym membership: $90.00 Monthly Deposits Month 1 Month 2 Month 3 Tumount $ 0 $ 1,900.53 $ 2,682.52 Required: Complete Form 941 for Prevosti Farms and Sugarhouse. Prevosti Farms and Sugarhouse was assigned EIN 22-6654454. -(NOTE): Instructions on format can be found on certain cells within the forms. Complete this question by entering your answers in the tabs below. 941 PG 1 941 PG 2 2 Page 1 of Form 941. (Round your final answers to 2 decimal places.) Form 941 for 2020: : Employer's QUARTERLY Federal Tax Return 950120 Department of the Treasury - Internal Revenue Service OMB No 1545-0029 Employer identification number (EIN) Report for this Quarter ol 2020 (Check one.) Name (not your trade name) 1: January February March Trade name (if any) 02 April May June Address 03: July, August September Number Street Suite or room number 104 October November, December City Slate (NN) ZIP code Instructions and prior year forms are available at Foreign country name Foreign Province county Foreign Postal Code www.irs.gowform41 Read the separate instructions before you complete Form 941. Type or print within the boxes. Part 1: Answer these questions for this quarter. 1 Number of employees who received wages, tips, or other compensation for the pay period including: June 12 (Quarter 2). September 12 (Quarter 3), or December 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 Check and go to line 6. Column 1 Column 2 5a Taxable social security wages x 0.124 5a Qualified sick leave wages x 0.052 5a Qualified family leave wages x x 0.062 5b Taxable social security tips x 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 Sd 5f Section 3121(a) Notice and Demand - Tax due on unreported tips see instructions) 6 Total taxes before adjustments. Add lines 3, 5, and 7 Current quarter's adjustments for fractions of cents 8 Current quarter's adjustments for sick pay 9 Current quarter's adjustments for tips and group-term life insurance 10 Total taxes after adjustments. Combine lines 6 through 9 11a Qualified small business payroll tax credit for increasing research activities. Attach Form 1974 11b Nonrefundable portion of credit for qualified sick and family leave wages from Worksheet 1 11 Nonrefundable portion of employee retention credit from Worksheet 1 11d Total nonrefundable credits Add lines 11a, 11b, and 110 12 Total taxes after adjustments and credits. Subtract line 11d from line 10 13 Total deposits for this quarter, including overpayment applied from a prior quarter and overpayments applied from Form 941-X, 941-X (PR). 944-X or 944-X (SP) filed in the current quarter 13b Deferred amount of the employer share of social security tax 13c Refundable portion of credit for qualified sick and family leave wages from Worksheet 1 13d Refundable portion of employee retention credit from Worksheet 1 13e Total deposits, deferrals, and refundable credits. Add lines 13a, 135, 136, and 130 13f Total advances received from filing Forms) 7200 for the quarter 13g Total deposits, deferrals, and refundable credits less advances. Subtract line 134 from line 13 14 Balance due If line 12 is more than line 13, enter the difference and see instructions , 15 Overpayment If line 13 is more than line 12, enter the difference , Check one: 10 11a 11b 110 11d REXEE BEEN 13a 13b 130 13d 130 131 139 Apply to next return Sand a refund You MUST complete both pages of Form 941 and SIGN It. Next For Privacy Act and Paperwork Reduction Act Notice, see the back of the Payment Voucher. Cat No. 170012 Form 941 (Rev. 1-2020) THIS FORM IS A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF. DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL. 2021 McGraw-Hill Education. The first quarter tax return needs to be filed for Prevosti Farms and Sugarhouse by April 15, 2020. For the purpose of the taxes, assume the second February payroll amounts were duplicated for the March 6 and March 20 payroll periods and the new benefit elections went into effect as planned. The form was completed and signed on April 10, 2020. Exempt Federal FICA Yes Yes Yes Yes Yes Yes Yes Yes No No No Benefit Information Health Insurance Life Insurance Long-term Care FSA 401(k) Gym Yes Owner's name: Toni Prevosti Address: 820 Westminster Road, Bridgewater, VT 05520. Phone: 802-555-3456 Number of employees: 8 Gross quarterly wages: $31,545.10 Federal income tax withheld: $367.00 401(k) contributions: $1,232.90 Insurance withheld: $4,080.00 Gym membership: $90.00 Monthly Deposits Month 1 Month 2 Month 3 Imount $ 0 $ 1,900.53 $ 2,682.52 Required: Complete Form 941 for Prevosti Farms and Sugarhouse. Prevosti Farms and Sugarhouse was assigned EIN 22-6654454. (NOTE): Instructions on format can be found on certain cells within the forms. Complete this question by entering your answers in the tabs below. 941 PG 1 941 PG 2 Page 2 of Form 941. (Round your final answers to 2 decimal places.) . Name (not your trade name Employer identification number(LIN) 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 return for 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 ine 12 for the prior quarter was less than $2,500 but line 12 on this retum 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). Go to Part 3 You were a monthly schedule depositor for the entire quarter. Enter your tax liability for each month and total liability for the quarter, then go to Part 3 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. Go to Part 3 Part 3: Tell us about your business. If a question does NOT apply to your business, leave it blank. , . 17 if your business has closed or you stopped paying wages Check here, and enter the final date you paid wages (mm/dd/yyyy) Check here 19 20 21 22 18 If you are a seasonal employer and you do not have to file a return for every quarter of the year 19 Qualified health plan expenses allocable to qualified sick leave wages 20 Qualified health plan expenses allocable to qualified family leave wages 21 Qualified wages for the employee retention credit 22 Qualified health plan expenses allocable to wages reported on line 21 23 Credit from Form 5004-C, line 11, for this quarter 24 Qualified wages paid March 13 through March 31, 2020, for the employee retention credit (use this ( line only for the second quarter filing of Form 941) 25 Qualified health plan expenses allocable to wages reported on line 24 (use this line only for the second quarter filing of Form 941) Part 4: May we speak with your third-party designee? 23 24 25 Do you want to allow an employee, a paid tax preparer, or another person to discuss this return with the IRS? See the instructions for details. Yes. Designee's name and phone number No. Select a s-digit Personal Identification Number (PIN) to use when talking to IRS Part 5: Sign here. You MUST complete both pages of Form 941 and SIGN it. Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. Sign your name here Print your name here Print your title here Date (mm/ddyyyy 04/10/2020 Best daytime phone (XXXXXXXX) Paid Preparer Use Only Check if you are self-employed Preparar's name PTIN Preparer's signature Fim's name for your self employed) Address Date (mm/dd/yyyy JEIN Phone City State (NN ZIP code