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The first quarter tax return needs to be filed for Prevosti Farms and Sugarhouse by April 15, 2021. For the taxes, assume the second February
The first quarter tax return needs to be filed for Prevosti Farms and Sugarhouse by April 15, 2021. For the taxes, assume the second February payroll amounts were duplicated for the March 5 and March 19 payroll periods, and the new benefit elections went into effect as planned. The form was completed and signed on April 9, 2021. Exempt Benefit Information Federal FICA Health Insurance Yes Yes. Life Insurance Yes Yes Long-term Care Yes Yes FSA Yes Yes 401(k) Yes No Gym 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 (Exclusive of Fringe benefits): $38,781.61 Federal income tax withheld: $1,163.00 401(k) contributions: $1,551.26 Section 125 withheld: $5,042.00 Gym membership: $90.00 Monthly Deposits Month 1 Month 2 Month 3 Required: Amount $0.00 $ 2,714.71 $ 3,610.48 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. Page 1 of Form 941. (Round your final answers to 2 decimal places.) Form 941 for 2021: Employer identification number (EIN) Name (not your trade name) Trade name (if any) Employer's QUARTERLY Federal Tax Return Department of the Treasury - Internal Revenue Service 22-6654454 Toni Prevosti Prevosti Farms and Sugarhouse Address 820 Westminster Road Number Street Bridgewater City 950120 OMB No. 1545-0029 1: Report for this Quarter of 2021 (Check one.) January, February, March 2: April, May, June 3: July, August, September VT Suite or room number 05520 04: State (NN) ZIP code Foreign Province/county Foreign Postal code October, November, December Instructions and prior-year forms are available at www.irs.gov/form941. Foreign country name 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 Column 1 Column 2 5a Taxable social security wages 5a(i) Qualified sick leave wages 5a(ii) Qualified family leave wages x 0.124 0.00 x 0.062 0.00 x 0.062 0.00 5b Taxable social security tips x 0.124 0.00 5c Taxable Medicare wages & tips x 0.029 0.00 5d Taxable wages & tips subject to Additional Medicare Tax withholding x 0.009 0.00 1 8 2 3 1,163.00 Check and go to line 6
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