Problem 9-11 Federal Tax Deposit System (LO 9.4) (NO COVID provisions) Drew Fogelman operates a small business and his payroll records for the second quarter of 2020 reflect the following: Employee Matt D. Jack F. Tiffany Y. Avery F. $1,800.00 Gross wages $3,000.00 $1,400.00 $4,200.00 Federal income tax withheld 45.00 18.00 25.00 191.00 FICA taxes 459.00 214.20 275.40 642.60 Drew's employee identification number is 34-4321321 and his business is located at 732 Nob Hill Blvd. in Yakima, WA 98902. Drew is eligible to pay his withholding at the time he files his quarterly Form 941. Complete page 1 of Form 941 for Drew for the second quarter of 2020. If your answer is zero, enter "O". Round your answers to two decimal places, if necessary. 950120 Form 941 for 2020: Employer's QUARTERLY Federal Tax Return Department of the Treasury Internal Revenue Service (Rev. April 2020) OMB No. 1545-0029 Employer identification number (EIN) 3 4 4 3 2 i || 3 2 1 Name (not your trade name) Drew Fogelman Report for this Quarter of 2020 (Select one.) () April, May, June Go to www.irs.gov/Form941 for instructions and the latest information. Trade name (if any) Address 732 Nob Hill Blvd. Number Street Suite or room number Yakima WA 98902 City State ZIP code Foreign country name Foreign province/county Foreign postal code 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), Sept. 12 (Quarter 3), or Dec. 12 (Quarter 4) 1 4 2 Wages, tips, and other compensation 2 10,400 3 3 199 Federal income tax withheld from wages, tips, and other compensation If no wages, tips, and other compensation are subject to social security or Medicare tax 4 Check and go to line 6. Column 1 Column 2 Taxable social security wages. 5a x 0.124 = 10,400 1,289.60 (i) Qualified sick leave wages 5a x 0.062 = 0 0 0 x 0.062 = 0 5a (ii) Qualified family leave wages Taxable social security tips. 5b x 0.124 = 0 0 Taxable Medicare wages & tips 5c x 0.029 = 10,400 301.60 5d Taxable wages & tips subject to Additional Medicare Tax withholding 0 x 0.009 = 0 5e Total social security and Medicare taxes. Add Column 2 from lines 5a, 5a(i), 5a(ii), 5b, 5c, and 5d 5e 1,591.20 5f Section 3121(9) Notice and Demand-Tax due on unreported tips (see instructions) 5f 0 6 Total taxes before adjustments. Add lines 3, 5e, and 5f 6 1,790.20 7 Current quarter's adjustment for fractions of cents 7 -0.20 8 8 0 9 0 Current quarter's adjustment 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 8974 10 1,790 11a 0 11b Nonrefundable portion of credit for qualified sick and family leave wages from Worksheet 1 11b 0 11c Nonrefundable portion of employee retention credit from Worksheet 1 11c 0 You MUST complete all three 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. 4-2020) Name (not your trade name) Employer identification number (EIN) Drew Fogelman 34-4321321 Part 1: Answer these questions for this quarter. (continued) 11d Total nonrefundable credits. Add lines 11a, 11b, and 11c. ... 11d 12 Total taxes after adjustments and nonrefundable credits. Subtract line 11d from line 10 . 12 13a 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 13a 13b Deferred amount of the employer share of social security tax .. 13b 13c Refundable portion of credit for qualified sick and family leave wages from Worksheet 1 13c 13d Refundable portion of employee retention credit from Worksheet 1. 13d 13e Total deposits, deferrals, and refundable credits. Add lines 13a, 136, 13c, and 13d 13e 13f Total advances received from filing Form(s) 7200 for the quarter 13f 13g Total deposits, deferrals, and refundable credits less advances. Subtract line 13f from line 13e 13g 14 Balance due. If line 12 is more than line 13g, enter the difference and see instructions. 14 15 Check one: Apply to next return. | Send a Overpayment. If line 13g is more than line 12, enter the difference refund. Part 2: Tell us about your deposit schedule and tax liability for this quarter. If you're unsure about whether you're a monthly schedule depositor or a semiweekly schedule depositor, see section 11 of Pub. 15. 16 Check one: a. 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 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're a monthly schedule depositor, complete the deposit schedule below; if you're a semiweekly schedule depositor, attach Schedule B (Form 941). Go to Part 3. b. 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. c. 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. You MUST complete all three pages of Form 941 and SIGN it. Next Page 2 Form 941 (Rev. 4-2020) Problem 9-11 Federal Tax Deposit System (LO 9.4) (NO COVID provisions) Drew Fogelman operates a small business and his payroll records for the second quarter of 2020 reflect the following: Employee Matt D. Jack F. Tiffany Y. Avery F. $1,800.00 Gross wages $3,000.00 $1,400.00 $4,200.00 Federal income tax withheld 45.00 18.00 25.00 191.00 FICA taxes 459.00 214.20 275.40 642.60 Drew's employee identification number is 34-4321321 and his business is located at 732 Nob Hill Blvd. in Yakima, WA 98902. Drew is eligible to pay his withholding at the time he files his quarterly Form 941. Complete page 1 of Form 941 for Drew for the second quarter of 2020. If your answer is zero, enter "O". Round your answers to two decimal places, if necessary. 950120 Form 941 for 2020: Employer's QUARTERLY Federal Tax Return Department of the Treasury Internal Revenue Service (Rev. April 2020) OMB No. 1545-0029 Employer identification number (EIN) 3 4 4 3 2 i || 3 2 1 Name (not your trade name) Drew Fogelman Report for this Quarter of 2020 (Select one.) () April, May, June Go to www.irs.gov/Form941 for instructions and the latest information. Trade name (if any) Address 732 Nob Hill Blvd. Number Street Suite or room number Yakima WA 98902 City State ZIP code Foreign country name Foreign province/county Foreign postal code 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), Sept. 12 (Quarter 3), or Dec. 12 (Quarter 4) 1 4 2 Wages, tips, and other compensation 2 10,400 3 3 199 Federal income tax withheld from wages, tips, and other compensation If no wages, tips, and other compensation are subject to social security or Medicare tax 4 Check and go to line 6. Column 1 Column 2 Taxable social security wages. 5a x 0.124 = 10,400 1,289.60 (i) Qualified sick leave wages 5a x 0.062 = 0 0 0 x 0.062 = 0 5a (ii) Qualified family leave wages Taxable social security tips. 5b x 0.124 = 0 0 Taxable Medicare wages & tips 5c x 0.029 = 10,400 301.60 5d Taxable wages & tips subject to Additional Medicare Tax withholding 0 x 0.009 = 0 5e Total social security and Medicare taxes. Add Column 2 from lines 5a, 5a(i), 5a(ii), 5b, 5c, and 5d 5e 1,591.20 5f Section 3121(9) Notice and Demand-Tax due on unreported tips (see instructions) 5f 0 6 Total taxes before adjustments. Add lines 3, 5e, and 5f 6 1,790.20 7 Current quarter's adjustment for fractions of cents 7 -0.20 8 8 0 9 0 Current quarter's adjustment 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 8974 10 1,790 11a 0 11b Nonrefundable portion of credit for qualified sick and family leave wages from Worksheet 1 11b 0 11c Nonrefundable portion of employee retention credit from Worksheet 1 11c 0 You MUST complete all three 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. 4-2020) Name (not your trade name) Employer identification number (EIN) Drew Fogelman 34-4321321 Part 1: Answer these questions for this quarter. (continued) 11d Total nonrefundable credits. Add lines 11a, 11b, and 11c. ... 11d 12 Total taxes after adjustments and nonrefundable credits. Subtract line 11d from line 10 . 12 13a 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 13a 13b Deferred amount of the employer share of social security tax .. 13b 13c Refundable portion of credit for qualified sick and family leave wages from Worksheet 1 13c 13d Refundable portion of employee retention credit from Worksheet 1. 13d 13e Total deposits, deferrals, and refundable credits. Add lines 13a, 136, 13c, and 13d 13e 13f Total advances received from filing Form(s) 7200 for the quarter 13f 13g Total deposits, deferrals, and refundable credits less advances. Subtract line 13f from line 13e 13g 14 Balance due. If line 12 is more than line 13g, enter the difference and see instructions. 14 15 Check one: Apply to next return. | Send a Overpayment. If line 13g is more than line 12, enter the difference refund. Part 2: Tell us about your deposit schedule and tax liability for this quarter. If you're unsure about whether you're a monthly schedule depositor or a semiweekly schedule depositor, see section 11 of Pub. 15. 16 Check one: a. 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 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're a monthly schedule depositor, complete the deposit schedule below; if you're a semiweekly schedule depositor, attach Schedule B (Form 941). Go to Part 3. b. 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. c. 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. You MUST complete all three pages of Form 941 and SIGN it. Next Page 2 Form 941 (Rev. 4-2020)