Stan Barker opened Quik-Stop Market on January 1, 2013. The business is subject to FICA taxes. At the end of the first quarter of 2013, Barker, as president of the company, must file Form 941, Employer's Quarterly Federal Tax Return. Using Form 941 (Parts 1 through 5), reproduced on pages 3-58 and 3-59, prepare, sign, and date the return on the basis of the information shown below.

Employer’s address: ..... 234 Oak, Austin, TX 78711-0234
Employer’s ID number: ... 00-0005874
Phone number: ....... (512) 555–1111

Each employee is paid semimonthly on the 15th and last day of each month. Shown below is the payroll information for the first quarter of 2013. All pay periods were the same.

Employees’ FICA Tax—OASDI..... $130.41
Employer’s FICA Tax—OASDI..... 192.51
Employees’ FICA Tax—HI....... 45.03
Employer’s FICA Tax—HI....... 45.02
Employees’ FIT Tax............ 426.00
Total..... $ 838.97 * 6 deposits ¼ $5,033.82 for the quarter

None of the employees reported tips during thequarter.

  • CreatedOctober 04, 2013
  • Files Included
Post your question