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goldenvalleynd
Level 1

941 Monthly Tax Part 2 Line 16 Tax Liability

I'm trying to create the IRS 941 - We are monthly depositor and QB Payroll is not entering the Monthly tax liabilities for Part 2 line 16. Where you have to separate out each month's amount to equal line 12.

What report could I run to get those numbers? 

 

Thanks!

Solved
Best answer July 07, 2021

Best Answers
AlexV
QuickBooks Team

941 Monthly Tax Part 2 Line 16 Tax Liability

Welcome to QuickBooks Community, goldenvalleynd!

 

I know that you want to ensure that Form 941 is accurate. Let me assist you.

 

There is a report called Payroll Summary that shows us the amount per month and the total liability for the entire quarter. Please follow these steps on how to pull it up:

  1. Go to Reports, select Employees & Payroll, then Payroll Summary.
  2. Click the Customize Report. From the Display tab, select Last Calendar Quarter from the Dates dropdown.
  3. In the Display columns by dropdown, select Month, then remove the Hours and Rate checkboxes.
  4. Select the Filters tab, then search and select the Payroll Item in the Filter section.
  5. In the Payroll Item dropdown, select the following:
    • Federal Withholding
    • Medicare Company
    • Medicare Employee
    • Social Security Company
    • Social Security Employee
  6. Make sure to remove any other selected items, then select OK
  7. Tap OK to return to the Payroll Summary report.

 

Once done, just ignore any negative signs and add up each column's amounts for Federal Withholding, Medicare Company, Medicare Employee, Social Security Company, and Social Security Employee taxes. The result should equal the amount per month and the total for the quarter.

 

You may also read the instructions regarding Form 941 provided by IRS by clicking this link: Instructions for Form 941 (Rev. June 2021).

 

Additionally, you may check this article: How QuickBooks populates the 941. This explains how the system fills out all the lines and boxes of the said form.

 

Do you need an additional payroll report? Here's an article for that: Excel based payroll reports.

 

Leave a comment below if you need further assistance with payroll forms. I'm here to help you!

View solution in original post

2 Comments 2
chelseak19
Level 2

941 Monthly Tax Part 2 Line 16 Tax Liability

When you run payroll details, you should be able to run for the month. 

AlexV
QuickBooks Team

941 Monthly Tax Part 2 Line 16 Tax Liability

Welcome to QuickBooks Community, goldenvalleynd!

 

I know that you want to ensure that Form 941 is accurate. Let me assist you.

 

There is a report called Payroll Summary that shows us the amount per month and the total liability for the entire quarter. Please follow these steps on how to pull it up:

  1. Go to Reports, select Employees & Payroll, then Payroll Summary.
  2. Click the Customize Report. From the Display tab, select Last Calendar Quarter from the Dates dropdown.
  3. In the Display columns by dropdown, select Month, then remove the Hours and Rate checkboxes.
  4. Select the Filters tab, then search and select the Payroll Item in the Filter section.
  5. In the Payroll Item dropdown, select the following:
    • Federal Withholding
    • Medicare Company
    • Medicare Employee
    • Social Security Company
    • Social Security Employee
  6. Make sure to remove any other selected items, then select OK
  7. Tap OK to return to the Payroll Summary report.

 

Once done, just ignore any negative signs and add up each column's amounts for Federal Withholding, Medicare Company, Medicare Employee, Social Security Company, and Social Security Employee taxes. The result should equal the amount per month and the total for the quarter.

 

You may also read the instructions regarding Form 941 provided by IRS by clicking this link: Instructions for Form 941 (Rev. June 2021).

 

Additionally, you may check this article: How QuickBooks populates the 941. This explains how the system fills out all the lines and boxes of the said form.

 

Do you need an additional payroll report? Here's an article for that: Excel based payroll reports.

 

Leave a comment below if you need further assistance with payroll forms. I'm here to help you!

View solution in original post

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