by Sharon
(NC)
My questions are numbered according to each part on the form:
#2. Is this total gross salaries of all employees?
#3. Income tax withheld: would this be total of only the federal withholdings?
#5a. Would TAXABLE SS wages be total of all employees' SS withholdings? OR total wages? (we have no SS tips).
What should I do if I over-paid in the last quarter (possibly as much as $1500.00)?
2Comments
confused on 941
MMary
Just when I think I know something...I read something that makes me doubt what I thought I knew!! I took what I read about reporting salary to mean you report the Pastor and the taxable employees on the 941 under 2. But I just read what you wrote: "First, yes this is the total gross salaries of the employees you have withheld federal taxes on for the quarter." So does this mean when you have a Pastor and employees you only list the taxable employees?
Details on 941
AAnonymous in NC
First, yes this is the total gross salaries of the employees you have withheld federal taxes on for the quarter. Second, yes again this is the total of federal income tax withholdings (state income tax withholdings would not go on this form). Third, it is the total SS wages that the SS withholdings were based on. Finally to make corrections of overstatements on previous 941 forms, one would make adjustments on the next 941 form submitted and accompany it with an explanation on a 941C form.