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Wayland Custom Woodworking is a firm that manufactures custom cabinets and woodwork for business and residential customers. Students will be able 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 E6462582020-6. 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 (Q4) of 2023, which consists of the final pay periods of the year. Then file the annual tax forms for Wayland and prepare each employee's Form W-2 in Part 2 on or before the due date of 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 forWayland Custom Woodworking:

• U.S. Form 941
• U.S. Form 940
• Nevada NUCS 4072
• Nevada New Hire Report
• Form W-2s for all 6 employees
• Form W-3 for WCW

Elective 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 1.5 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 Waylandhas 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
00-Wayla	Mark Wayland 1650 Power House Drive Glenbrook, NV 89413 775-555-1110 Job title: President or Owner	Married Filing Jointly; 3
01-Peppi	Sylvia Peppinico 1575 Flowers Avenue Glenbrook, NV 89413 775-555-2244 Job title: Craftsman	Married Filing Jointly; 1
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

The total deposits made for the quarter is $12,419.51.

Monthly tax liability:

October	$ 6,187.96
November	6,231.55
December	3,120.38

FUTA tax deposited for the year, including any overpayment applied from a prior year is $252.00.

Form 941 for 2023: Employer's QUARTERLY Federal Tax Return 950122 Department of the Treasury - Intomal Revenue Service OMB No. 1546-0029 Employer Identification number (EIN) 91-7444535 Report for the Quarter 2023 (Check one.] Naime (not your trade name] Mark Wayland 01: January, February, March Trade name (If any) Wayland Custom Woodworking 102: April, May June Address 12850 Old Highway 50 3: July, August, Sopiamber Number Street Suite or room number Glenbrook NY 89413 4: October, November, December State (NN) Go to www.irs.gow Form941 for Foreign country name Foreign Provincecounty Forsign Postal code instructions and the latest information. Fond the separate instructions before you complete Form 941. Type or print within the boxes Part 1: Anewer these questions for this quarter. Number of employees who meoshved wages, tips, or other compensation for the pay perlod Including: Mar. 12 (Quarter 1). June 12 (Quarter 2), Bapt. 12 [Quarter $), or Deo. 12 (Quarter 4) 2 Wages, tips, and other compensation Federal In n wages, dips, and other compensation 4 If no wages, tips, and other compensation are subject to coolal ceourity or Medicare tax Check and go to line 8. Column 1 Column 2 Ed Taxable coolal courtty wages 82,350.90 x 0.124 10,216 47 Include taxable qualified sick and family 6: () Quallfled clock leave Wages x 0.062 0:00 | leave wages paid in this quarter of 2023 for leave taken after March 31, 2021, and 6: () Qualified family leave waged x 0.062 0.00 before October 1, 2021, on line 5a. Use 6b Taxable coolal ceourity tips x 0.124 0.00 lines Sa(i) and Safii) only for taxable qualified sick and family leave wages Go Taxable Mediocre wages & tips x 0.029 0.00 | paid in this quarter of 2023 for leave taken after March 31, 2020, and before Ed Taxable wages & tipo subject to Additional Medicare Tex withholding x 0.009 April 1, 2021. 6: Total coolal seourity and Medicare taxes Add Column 2 from lines 68, 60, 60, and Ed 10.216.47 67 Beotion $121 [q) Notlos and Demand - Tax due on unreported tips (sen instructions) Total taxed before a Add lines 3, So, and Er 10.216 47 Current ment for fractions of punts 8 Current qua tment for clok pay B Current qua thanits for tips and group-term life Insurance 10 Total taxes after adjus Combine Iinns 6 through 9 10.216 47 118 Quall cs payroll tax credit for Increasing recearoh activities. Attach Form 3874 118 H1b Nonrefundable portion of oredit for qualified slok and family leave wages for leave taken before April 1, 2021 110 Reserved for future use 110 11d Nonrefundable portion of credit for qualified slok and family leave wages for leave taken after March 31, 2021, and before October 1, 2021 tie Reserved for future uce 11f Received for future use 11g Total nonref ble credits. Add lines 118, 11b, and 11d 12 Total taxes after adjup credits. Bubtract Ine 11g from line 10 12 10.216 47 148 Total deposits for this quarter, Including overpayment applied from a prior quarter and overpayments applied from Form 841-X, 941-X (FR], 844-X, or 844-X [ 8P) filled In the ourrent quarter 12 670.51 13b Reserved for future uce 140 Refundable portion of credit for qualified clok and family leave wages for leave taken before April 1, 2021 1:3d Reserved for future ucs 13d 14e Refundable portion of credit for quallfled clok and family leave wages for leave taken after March 31, 2021, and before Outober 1, 2021 13r Reserved for future uce 1:30 Total deposits and refundable credits. Add IInec 138, 130, and 18: 12,670.51 13h Reserved for future ucs 131 Received for future use 14 Balance due If line 12 is more than line 13g, enter the difference and son instructions 0.00 15 Overpayment If line 13 is mom than ina 12, enter the difference 2,454.04 Check one: Apply to next return Sand a refund You MUST complete both pages of Form 841 and BON It. Next For Privacy Aot and Paperwork Reduction Aot Notes, ces the book of the Payment Voucher. Cat. No. 170012 Form 841 (Rev. 2-2020)