Question
Lauprechta Inc. has the following employees on payroll: Semimonthly Withholding Marital Payroll Allowances Status Naila $5,800 3 Married Wilfred $5,000 2 Married Byron $3,600 0
Lauprechta Inc. has the following employees on payroll:
Semimonthly Withholding Marital
Payroll Allowances Status
Naila $5,800 3 Married
Wilfred $5,000 2 Married
Byron $3,600 0 Single
Annie $4,200 1 Single
Employee | Federal Withholding Tax | Social Security Tax | Medicare Tax | Total Taxes Withheld |
Naila |
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Wilfred |
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|
Byron |
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|
|
|
Annie |
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|
|
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Tax Return Problem
Use the information from the problem above (you completed this problem in our homework this week). Prepare Form s 940 for 2020. Assume that Lauprechta Inc. has timely paid all amounts due to the state unemployment fund (assume a total amount of $3,471) and that the payroll was consistent throughout the entire year. No FUTA deposits were made during the year.
Also prepare Form 941 including Schedule B for the second quarter of 2020. Assume that the payroll is consistent every pay period beginning in April through June 30 and that all tax deposits were made on a timely basis as required. Lauprechta Inc.s Employer Identification Number (EIN) is 36-1238975, and its address is 1825 Elkhart Way, Columbus, GA 31904.
NOTE: There seems to be a flaw in the IRS website and doesn't allow you to download the 2020 form 941. I searched on 2019 form 1941. It is the same, so you can use that form for this assignment.
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