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.

 

Federal	FICA
Benefit Information	Exempt
	Health Insurance	Yes	Yes
Life Insurance	Yes	Yes
Long-term Care	Yes	Yes
FSA	Yes	Yes
401(k)	Yes	No
Gym	No	No

 

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): $37,218.97

Federal income tax withheld: $1,117.00

401(k) contributions: $1,488.76

Section 125 withheld: $4,838.00

Gym membership: $90.00

 

Monthly Deposits	Amount
Month 1	$ 0.00
Month 2	$ 2,605.33
Month 3	$ 3,466.01

 

Required:

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