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Complete Page $2$ of Form $941.$

Note: Round your intermediate computations and final answers to $2$ decimal places. Input all values as positive numbers.

Part $3$: $,$ Tell us about your business. If a question does NOT apply to your business, leave it blank.

Do you want to allow an employee, a pald tax preparer, or another person to dlacuse thle return with the IR &$?$ $ee the Inatructions for detalla.

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$[$The following information applies to the questions displayed below.$]$

Wayland Custom Woodworking is a firm that manufactures custom cabinets and woodwork for business and residential customers. Students will have the opportunity to establish payroll records and complete a month of payroll information for Wayland. Wayland Custom Woodworking is located at $12850$ Old Highway $50,$ Glenbrook, Nevada, $89413,$ phone number $775-555-9877.$ The owner is Mark Wayland. Wayland$$s EIN is $91-7444533,$ and the Nevada Employer Account Number is E$6462582020-6.$ Wayland has determined it will pay its employees on a semimonthly basis. Federal income tax should be computed using the percentage method for manual payrolls with Forms W$-4$ from $2020$ or later.

For Part $2$ of this project, you will complete payroll for the last month $($December$)$ of the fourth quarter $($Q$4)$ of $2023,$ which consists of the final pay periods of the year. Then file the annual tax forms for Wayland as well as prepare each employee's Form W$-2$ in Part $2$ on or before the due date $01/12/2024.$

For Part $2$ of this project, you will use the fourth quarter payroll information that you calculated in Part $1$ to complete the following tax forms for Wayland Custom Woodworking:

U$.$S$.$ Form $941$

U$.$S$.$ Form $940$

Nevada NUCS $4072$

Nevada New Hire Report

Form W$-2$s for all $6$ employees

Form W$-3$ for WCW

Elective deferrals including deferrals under a simple retirement account that is part of a section $401($k$)$ arrangement should be reported in Box $12,$ using code D$.$ Employer amounts for health coverage should be reported as $1\mathrm{.}5$ times the employee's premium in Box $12,$ using Code DD$.$ The forms will be signed on January $12,2024.$

Specific instructions on how to complete each form can be found within the individual forms themselves. The employee information for Wayland has been presented again below, for convenience.

Employee Number Name and Address Payroll information

$00-$Chins Anthony Chinson

$530$ Chimney Rock Road

Stateline, NV $89449$

$775-555-1212$

Job title: Account Executive Married Filing Jointly; $2<mtext\; id="EditorElement\_11669150"></mtext><mn\; id="EditorElement\_11669151">1</mn><mn\; id="EditorElement\_11669152">7</mn>$

Exempt

$$48,000$ per year $+$ commission

Start Date: $10/1/2023$

SSN: $511-22-3333$

$00-$Wayla Mark Wayland

$1650$ Power House Drive

Glenbrook, NV $89413$

$775-555-1110$

Job title: President or Owner Married Filing Jointly; Other

Exempt

$$85,000$ per year

Start Date: $10/1/2023$

SSN: $505-33-1775$

$01-$Peppi Sylvia Peppinico

$1575$ Flowers Avenue

Glenbrook, NV $89413$

$775-555-2244$

Job title: Craftsman Married Filing Jointly; Other

Exempt

$$58,500$ per year

Start Date: $10/1/2023$

SSN: $047-55-9951$

$01-$Coope Stevon Cooper

$2215$ Lands End Drive

Glenbrook, NV $89413$

$775-555-9981$

Job title: Craftsman Single; None

Nonexempt

$$62,000$ per year

Start Date: $10/1/2023$

SSN: $022-66-1131$

$02-$Hisso Leonard Hissop

$333$ Engine House Circle

Glenbrook, NV $89413$

$775-555-5858$

Job title: Purchasing or Shipping Single; $1$ Other

Nonexempt

$$51,500$ per year

Start Date: $10/1/2023$

SSN: $311-22-6698$

$00-$Succe Student Success

$16$ Kelly Circle number $2$

Glenbrook, NV $89413$

$775-556-1211$

Job title: Accounting Clerk Single; None

Nonexempt

$$42,000$ per year

Start Date: $10/1/2023$

SSN: $555-55-5555$

Total deposits made for the quarter is $$12,419\mathrm{.}51.$

Monthly tax liability:

October $ $6,187\mathrm{.}96$

November $6,231\mathrm{.}55$

December $3,120\mathrm{.}38$

FUTA tax deposited for the year, including any overpayment applied from a prior year is $$252\mathrm{.}00.$

If you have submitted Part $1$ already, it is recommended that you access your submission while attempting Part $2,$ as you will need the information from Part $1$ in order to complete all applicable tax forms.

For additional instructions on how to navigate and work through through Part $2$ of this project, please download the student project guide here.