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Welcome to A. Andrew
Harrison CPA P.C. Certified Public Accountant |
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Form 941 |
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Employer’s Quarterly Federal
Tax Return Form 941 Basic things you should know are as
follows: 1-A Form 941 is used to report
income tax you withheld from wages (including tips), supplemental
unemployment compensation benefits, and third-party payments of sick pay and
social security and Medicare taxes. 2- If you are liable for the
above taxes you must file a form 941 quarterly and must continue file after
your first filing, even if you have no taxes to report. File starting with
the first quarter in which you are required to withhold income tax or pay
Social Security or Medicare wages. (See When to file)
3-Certain amounts reported on your four quarterly Forms 941 for the calendar year
must agree to Form
W-2, the Wage and tax statement, and to total on Form W-3, the
Transmittal of Wages and Tax Statements for income tax withholding, and
social security wages and/or tips. If the totals do not agree the IRS may ask
you to explain any differences. 4-There maybe penalties for
filing a return late and paying or depositing taxes
late, unless there is reasonable cause. ©/2003 to 2009 A Andrew Harrison CPA P.C. love a challenge |
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Industry Look |
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Contact us now |
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718.363.9500 We study the industry for our client's so they would not have to and rate each company based on its industry. |
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