Required Information [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 to complete a month of payroll information for Wayland. Wayland Custom Woodworking is located at 1716 Nichol Street, Logan. Utah, 84321. phone number 435-555- 9877. The owner is Mark Wayland. Wayland's EIN is 91-7444533, and the Utah Employer Account Number is 99992901685WTH. Wayland has determined it will pay its employees on a semimonthly basis. Federal income tax should be computed using the percentage method. For Part 2 of this project, you will complete payroll for the last month (December) of the fourth quarter (Q4) of 2019, 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 01/15/2020. The SUTA (UI) rate for Wayland Custom Woodworking is 2.6 percent on the first $35.300. The state withholding rate is 4.95 percent for all income levels, deductions, and marital statuses, a table has been included to assist with calculations of state tax due for employees. 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 Utah Form TC-941 Utah Form 33H Form W-2s 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 1.5 times the employee's premium in Box 12, using Code DD. 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. 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 1.5 times the employee's premium in Box 12, using Code DD. 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 ee-Chins Anthony Chinson Married, 1 Withholding allowance 530 Sylvann Avenue Exempt Logan, UT 84321 $24,880/year + commission 435-555-1212 Start Date: 10/1/2019 Job title: Account Executive SSN: 511-22-3333 ee-Wayla Mark Wayland 1570 Lovett Street Logan, UT 84321 435-555-1110 Job title: President/Owner Married, 5 withholding allowances Exempt $75, eee/year Start Date: 10/1/2019 SSN: 505-33-1775 Married, 7 withholding allowances Exempt $43,500/year Start Date: 10/1/2019 SSN: 847-55-9951 81-Peppi Sylvia Peppinico 291 Antioch Road Logan, UT 84321 435-555-2244 Job title: Craftsman 01-Varde Stevon Varden 333 Justin Drive Logan, UT 84321 435-555-9981 Job title: Craftsman Married, 2 withholding allowances Nonexempt $42,980/year Start Date: 10/1/2019 SSN: 022-66-1131 82-Hisso Leonard Hissop 531 5th Street Logan, UT 84321 435-555-5858 Job title: Purchasing/Shipping Single, 4 withholding allowances Nonexempt $49,580/year Start Date: 10/1/2019 SSN: 311-22-6698 Single, 1 withholding allowance Nonexempt $36,800/year Start Date: 10/1/2019 SSN: 555-55-5555 Be-Succe Student Success 1650 South Street Logan, UT 84321 435-556-1211 Job title: Accounting Clerk Total deposits made for the quarter is $10.875.10. Monthly tax liability: October November December $5,550.41 5,324.69 2,557.16 FUTA tax deposited for the year, including any overpayment applied from a prior year is $248.11. 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. Complete this question by entering your answers in the table below. Chinson Wayland Peppinico Varden Hissop Success WCW Form W3 Complete the W-2 for Anthony Chinson. (Round your intermediate computations and final answers to 2 decimal places.) Visit the IRS website a Employee's social security number (XXX 22222 XOXOKX 511-22-3333 Employer ID number (EIN-enter as xx XXXXXXX) OMB No. 1545-0008 Safe, accuracte, FASTI USO IRS e-file 11 Wages, tips, other compensation www.its gowenie 2 Federal income tax withheld 24,000.00 3 Social security wages 4 Social security tax withheld C Employer's name, address, and ZIP code Employer's name Wayland Custom Woodworking 5 Medicare wages and tips 6 Medicare lax withheld Address line 1 1716 Nichol Street 7 Social security tips & Allocated tips Address line 2 d Control number 9 10 Dependent care benefits 11 Nonqualified plans 12a See instr. for bax 12 (code in LEFT box) e Employee's first name and initial, Last name, and Suff. Employee's name Anthony Chinson 13 Statutory Employ Retirement plan Address line 1 530 Sylvann Avenue 12b (above) Third party sick pay 120 Address line 2 14 Other 120 Employee's address and ZIP code 15 State Employer's state ID number UT 16 State Wages, tips, etc. 17 State income tax 18 Local wages, tips, etc. 19 Local income tax 20 Locality name 2019 Form W-2 Wage and Tax Department of the Treasury - Internal Revenue Service Statement Copy B-To Be Filed with Employee's FEDERAL Tax Return. This information is being furnished to the Internal Revenue Service. THIS FORM IS A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF. DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL. 2020 McGraw-Hill Education.
Required Information [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 to complete a month of payroll information for Wayland. Wayland Custom Woodworking is located at 1716 Nichol Street, Logan. Utah, 84321. phone number 435-555- 9877. The owner is Mark Wayland. Wayland's EIN is 91-7444533, and the Utah Employer Account Number is 99992901685WTH. Wayland has determined it will pay its employees on a semimonthly basis. Federal income tax should be computed using the percentage method. For Part 2 of this project, you will complete payroll for the last month (December) of the fourth quarter (Q4) of 2019, 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 01/15/2020. The SUTA (UI) rate for Wayland Custom Woodworking is 2.6 percent on the first $35.300. The state withholding rate is 4.95 percent for all income levels, deductions, and marital statuses, a table has been included to assist with calculations of state tax due for employees. 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 Utah Form TC-941 Utah Form 33H Form W-2s 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 1.5 times the employee's premium in Box 12, using Code DD. 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. 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 1.5 times the employee's premium in Box 12, using Code DD. 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 ee-Chins Anthony Chinson Married, 1 Withholding allowance 530 Sylvann Avenue Exempt Logan, UT 84321 $24,880/year + commission 435-555-1212 Start Date: 10/1/2019 Job title: Account Executive SSN: 511-22-3333 ee-Wayla Mark Wayland 1570 Lovett Street Logan, UT 84321 435-555-1110 Job title: President/Owner Married, 5 withholding allowances Exempt $75, eee/year Start Date: 10/1/2019 SSN: 505-33-1775 Married, 7 withholding allowances Exempt $43,500/year Start Date: 10/1/2019 SSN: 847-55-9951 81-Peppi Sylvia Peppinico 291 Antioch Road Logan, UT 84321 435-555-2244 Job title: Craftsman 01-Varde Stevon Varden 333 Justin Drive Logan, UT 84321 435-555-9981 Job title: Craftsman Married, 2 withholding allowances Nonexempt $42,980/year Start Date: 10/1/2019 SSN: 022-66-1131 82-Hisso Leonard Hissop 531 5th Street Logan, UT 84321 435-555-5858 Job title: Purchasing/Shipping Single, 4 withholding allowances Nonexempt $49,580/year Start Date: 10/1/2019 SSN: 311-22-6698 Single, 1 withholding allowance Nonexempt $36,800/year Start Date: 10/1/2019 SSN: 555-55-5555 Be-Succe Student Success 1650 South Street Logan, UT 84321 435-556-1211 Job title: Accounting Clerk Total deposits made for the quarter is $10.875.10. Monthly tax liability: October November December $5,550.41 5,324.69 2,557.16 FUTA tax deposited for the year, including any overpayment applied from a prior year is $248.11. 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. Complete this question by entering your answers in the table below. Chinson Wayland Peppinico Varden Hissop Success WCW Form W3 Complete the W-2 for Anthony Chinson. (Round your intermediate computations and final answers to 2 decimal places.) Visit the IRS website a Employee's social security number (XXX 22222 XOXOKX 511-22-3333 Employer ID number (EIN-enter as xx XXXXXXX) OMB No. 1545-0008 Safe, accuracte, FASTI USO IRS e-file 11 Wages, tips, other compensation www.its gowenie 2 Federal income tax withheld 24,000.00 3 Social security wages 4 Social security tax withheld C Employer's name, address, and ZIP code Employer's name Wayland Custom Woodworking 5 Medicare wages and tips 6 Medicare lax withheld Address line 1 1716 Nichol Street 7 Social security tips & Allocated tips Address line 2 d Control number 9 10 Dependent care benefits 11 Nonqualified plans 12a See instr. for bax 12 (code in LEFT box) e Employee's first name and initial, Last name, and Suff. Employee's name Anthony Chinson 13 Statutory Employ Retirement plan Address line 1 530 Sylvann Avenue 12b (above) Third party sick pay 120 Address line 2 14 Other 120 Employee's address and ZIP code 15 State Employer's state ID number UT 16 State Wages, tips, etc. 17 State income tax 18 Local wages, tips, etc. 19 Local income tax 20 Locality name 2019 Form W-2 Wage and Tax Department of the Treasury - Internal Revenue Service Statement Copy B-To Be Filed with Employee's FEDERAL Tax Return. This information is being furnished to the Internal Revenue Service. THIS FORM IS A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF. DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL. 2020 McGraw-Hill Education.
