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Cassandra
Cassandra, Tax Preparer
Category: Tax
Satisfied Customers: 306
Experience:  8yrs experience in taxation for individuals. CTEC Registered and an Authorized E-filer with the IRS
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how to calculate the total income tax withheld from wages, ...

Customer Question

how to calculate the total income tax withheld from wages, tips, and other compensation in form 941
Submitted: 8 years ago.
Category: Tax
Expert:  Ed Johnson replied 8 years ago.

DearCustomer

Thank you for your question.

Do you have a payroll provider? if so who is it?

Do you maintain a balance sheet or master payroll sheet to show how you withheld from your employees?

Customer: replied 8 years ago.
Hello. Ed
Yes, I do have a QuickBook payroll quarterly report, just don't know how or where to look for, and add these number for box # XXXXX in " Total income tax withheld from wages, tips, and other compensation" in form 941.
Thank you
Customer: replied 8 years ago.
Hello. Ed
Yes, I do have a PeachTree payroll quarterly report, just don't know how or where to look for, and add these number for box # XXXXX in " Total income tax withheld from wages, tips, and other compensation" in form 941.
Thank you
Expert:  Ed Johnson replied 8 years ago.

Can you scan and upload the peachtree report for me to look at?

Peach tree should have a report for tax liablity or the 941.

 

Expert:  Ed Johnson replied 8 years ago.
What verision of peachtree do you have?
Customer: replied 8 years ago.
Hello, Ed
I forgot to mention that I want to file the 941 for 2007, I also have all the employee w-2 form of 2007, can I using the w-2 form informations to add the the amount of " Total income tax withheld from wages, tips, and other compensation" in box #3 of 941 form? ( Can get the report fortax liablity or the 941 to work, Sorry.)
Thank you.
Expert:  Cassandra replied 8 years ago.
HelloCustomer

The Expert you were working with has asked for some help with your situation.

941's are actually a quaterly report and you are not supposed to put a whole year of information in them. Because of this the W-2's will not work. 941's can become confusing if you can not pull up the tax liability from Peachtree. Can you pull up all the individual paychecks and run a spreadsheet listing the total amount of each persons Gross payments. You would want to do this by quarters, in order to properly fill out the 941.
If you can Peachtree does have all this listed within the reports for employees. This list will also help you when you decide to do the other payroll reporting that you will need to complete.

Another option is to call peachtree support line and ask them how to pull up the proper liability reports for the 941. If you can do this your work will practically be done for you.

This stuff can become extremely confusing if you are not able to pull the correct reports from Peachtree.
Cassandra, Tax Preparer
Category: Tax
Satisfied Customers: 306
Experience: 8yrs experience in taxation for individuals. CTEC Registered and an Authorized E-filer with the IRS
Cassandra and 3 other Tax Specialists are ready to help you