Preparing a P/R Tax Return (30 points) Assuming lota Inc. paid $1,498 26 of SUTA to Montana (state reporting #16345) on a timely basis, please complete the 940 for 2021 (based on the following payroll register for 1/15/21). This same P/R register occurred 24 times in 2021 (ie-semimonthly payroll). . . Make sure to do a quarterly schedule (just like you did on the review for Perdenales in #9). Ask yourself how many payrolls are in each quarter. The employer has not deposited any FUTA all year. Please show your work for the table that we practiced doing to get the numbers to enter in on the 940 on the answer sheet Note: We are completing a 2021 940. Fill out a 940 - it will be the second file you submit. IOTA INC 8964 RICHLAND WAY PROSPEROUS HEIGHTS, MT 59605 FEIN 89-0781496 SEMI-MONTHLY PAYROLL REGISTER EES Adams Bennet Cross Dudley Gross 1389.00 2741.00 1406.00 1011.00 FIT 139.00 206.00 168.00 42.00 SIT 41.00 81.00 53.00 24.00 FICA 106.26 209.69 107.56 77.34 Net 1102.74 2244.31 1077.44 867.66 Preparing a P/R Tax Return (30 points) Assuming lota Inc. paid $1,498 26 of SUTA to Montana (state reporting #16345) on a timely basis, please complete the 940 for 2021 (based on the following payroll register for 1/15/21). This same P/R register occurred 24 times in 2021 (ie-semimonthly payroll). . . Make sure to do a quarterly schedule (just like you did on the review for Perdenales in #9). Ask yourself how many payrolls are in each quarter. The employer has not deposited any FUTA all year. Please show your work for the table that we practiced doing to get the numbers to enter in on the 940 on the answer sheet Note: We are completing a 2021 940. Fill out a 940 - it will be the second file you submit. IOTA INC 8964 RICHLAND WAY PROSPEROUS HEIGHTS, MT 59605 FEIN 89-0781496 SEMI-MONTHLY PAYROLL REGISTER EES Adams Bennet Cross Dudley Gross 1389.00 2741.00 1406.00 1011.00 FIT 139.00 206.00 168.00 42.00 SIT 41.00 81.00 53.00 24.00 FICA 106.26 209.69 107.56 77.34 Net 1102.74 2244.31 1077.44 867.66