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.

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): $32,086.87

Federal income tax withheld: $360.00

401(k) contributions: $1,259.90

Section 125 withheld: $4,080.00

Gym membership: $90.00

Monthly DepositsAmountMonth 1$ 0.00Month 2$ 1,918.18Month 3$ 2,726.72

Required:

Complete Form 941 for Prevosti Farms and Sugarhouse. Prevosti Farms and Sugarhouse was assigned EIN 22-6654454.

THE ANSWER NEEDS TO BE IN TABLE FORMAT!!

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 Check and go to line 6 . 5a Taxable social security wages 5 (i) Qualified sick leave wages 5 a(ii) Qualified family leave wages 5b Taxable social security tips 5c Taxable Medicare wages \& tips 5 daxable wages \& tips subject to Additional Medicare Tax withholding Column 1 5e Total social security and Medicare taxes. Add Column 2 from lines 5a,5a(i),5a(ii),5b,5c, and 5d 5 Section 3121(q) Notice and Demand - Tax due on unreported tips 6 Total taxes before adjustments. Add lines 3,5e, and 5f 7 Current quarter's adjustment for fractions of cents 8 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. 11b Nonrefundable portion of credit for qualified sick and family leave wages from Worksheet 1 11c Nonrefundable portion of employee retention credit from Worksheet 1 11d Total nonrefundable credits. Add lines 11a, 11b, and 11c 12 Total taxes after adjustments and nonrefundable credits. Subtract line 11d from line 10 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 944X(SP) filed in the current quarter 13b Reserved for future use 13c Refundable portion of credit for qualified sick and family leave wages from Worksheet 1 13d Refundable portion of employee retention credit from Worksheet 1 13e Total deposits and refundable credits. Add lines 13a,13b,13c, and 13d 13f Total advances received from filing Form(s) 7200 for the quarter 13g Total deposits and refundable credits less advances. Subtract line 13f from line 13e 14 Balance due. If line 12 is more than line 13g, enter the difference and see instructions 15 Overpayment. If line 13g is more than line 12 , enter the difference Column 2 0.124 0.062 0.062 0.124 0.029 0.009 \begin{tabular}{|r|} \hline Column 2 \\ \hline 0.00 \\ \hline 0.00 \\ \hline 0.00 \\ \hline 0.00 \\ \hline 0.00 \\ \hline 0.00 \\ \hline \end{tabular} Attach Form 8974 (see instructions) Attach Form 8974 \begin{tabular}{|l|l|} \hline Attach Form 8974 \\ \hline & \\ \hline & \\ \hline & \\ \hline \end{tabular} Cat. No. 17001Z \begin{tabular}{r|r|} \hline 13a & \\ \hline 13b & \\ \hline 13c & \\ \hline 13d & \\ \hline 13e & \\ \hline 13f & \\ \hline 13g & \\ \hline 14 & 0.00 \\ \hline & \\ \hline \end{tabular} 0.00 You MUST complete both pages of Form 941 and SIGN it. For Privacy Act and Paperwork Reduction Act Notice, see the back of the Payment Voucher. Form 941 (Rev. 3-2021) Part 2: Tell us about your deposit schedule and tax liability for this quarter. If you are unsure about whether you are a monthly schedule depositor or a semiweekly schedule depositor, see section 11 of Pub. 15. 16 Check one: 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 are a monthly schedule depositor, complete the deposit schedule below; if you are a semiweekly schedule depositor, attach Schedule B (Form 941). Go to Part 3. You were a monthly schedule depositor for the entire quarter. then go to Part 3. Tax liability: Month 1 Month 2 Month 3 Total liability for quarter 0.00 Enter your tax liability for each month and total liability for the quarter, 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. \begin{tabular}{lcc|} Benefit Information & Exclude: & \\ Health Insurance & Yes & Yes \\ Life Insurance & Yes & Yes \\ Long-term Care & Yes & Yes \\ FSA & Yes & Yes \\ 401(k) & Yes & No \\ Gym & No & No \\ \hline \end{tabular}