CPP $6-1$ Complete $4$th Quarter and Year$-$End Payroll Reporting

Before You Begin: For this assignment you will need to reference data from the forms you completed in CPP $4-1,$ so be sure to complete that assignment before beginning this one. If you are using Homework Grader, the data is provided in the online version of the assignment.

Calculate $4$th quarter taxes for TCLH Industries, a manufacturer of cleaning products, and then complete Forms $941$ and $940$ as of year$-$end. Conclude by completing Copy A of the W$-2$ Form for each of the four employees, as well as the associated W$-3$ Form. 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.

To assist in the completion of this assignment, the following employee earnings records display year$-$to$-$date earnings prior to the current pay period. As a result, the $"4$th 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.

These images are included as Excel files in your Student Exercise Files download. You can use them as a starting point as you complete the assignment.

$\backslash$table$[[\backslash$table$[[$Name$],[$Address$]],$Calvin Bell$],[2222$ Sacker Place$],[$Durham$,$ NC $27701],[$SS#$,500-00-0000$