We pay bi-weekly and make the payroll tax deposit five days after the pay date. When running the Form 941, if one of the tax payments is made in the following quarter, it does not show up on the Form 941. We cannot seem to correct this error, and we have to type the Form 941 manually. Is there any way to fix this problem? Thank you.
Glad you reached out to us today. I want to make sure your Form 941 shows the right information and that taxes are calculated correctly.
For the form to recognize you have payments for the quarter, make sure the paid through date entered on the liability check is not after the check date. Here’s how to edit the liability date so it’s on or after the paid through date:
Click Employees on the top and select Payroll Center.
Click the Transactions tab.
Choose Liability Checks in the left pane.
Click the liability check for the period that is appearing in the Scheduled Liabilities window.
Edit the check date.
Once the change is made, the form will show the correct calculations. For additional information, check out “The paid through date on the liability check is after the check date” section on this article: https://community.intuit.com/articles/1763241.
That’s it. Stay in touch with me if there’s anything else you need. I’ll be here to help. Wishing you the best!
What you will see is that the Check Date has nothing to do with the 941 report. The "Liability Period" is what is used. You can pay First Quarter 941 in July, even, and it shows on the first quarter 941 because the Period date ranges should show Jan 1-March 31.
"We pay bi-weekly and make the payroll tax deposit five days after the pay date."
And the payment date has to be on time, to not be considered late. Otherwise, the Paid Date for this tax payment is not part of the 941. The fact that it got paid, is needed.
"When running the Form 941, if one of the tax payments is made in the following quarter, it does not show up on the Form 941."
Simply open that Liability check and look at the PERIOD. This is supposed to cover "paycheck Dates written in this timeframe."
You pay on July 5th for the final part of June. This is a Third Quarter paycheck. The Tax Payment is not for a Pay Period; it is for the Liability Period. The Liability Period is because Paychecks were issued. And this never shows on the Second Quarter 941, because the Paycheck is the Event that matters for taxes, and that is in the Third Quarter.
Do not confuse Pay Period with Liability Period. Liabilities are owed when Money happens.