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Form 940 for 2018

941 for 1Q had errors.  Company paid health insurance was tracking as a Fringe Benefit, not Company Paid Health Insurance.  I corrected that in April, but now the 940 is out of balance from the first 7 paychecks having incorrect tax tracking for that item.  How can I fix this? 

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Best answer 01-25-2019

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BRC
Established Community Backer ***

Re: Form 940 for 2018

Yes, when refiling a form with updated number, you also need to fix the actual data for your annual reporting like the 940, state forms, and W-2's.

 

In this case, enter payroll liability adjustments for each employee that was wrong until the 941 appears the way your finally filed it (or the 941x) and then the 940 should be correct as well.

3 Comments
BRC
Established Community Backer ***

Re: Form 940 for 2018

Yes, when refiling a form with updated number, you also need to fix the actual data for your annual reporting like the 940, state forms, and W-2's.

 

In this case, enter payroll liability adjustments for each employee that was wrong until the 941 appears the way your finally filed it (or the 941x) and then the 940 should be correct as well.

Established Member

Re: Form 940 for 2018

how do i efile form 940 &941

QuickBooks Team

Re: Form 940 for 2018

I'd be happy to help you with that, ziad zumot.

 

I've got just the information you'll need to E-file forms 940 and 941.

 

To clarify, have you enrolled in the IRS E-file program? If so, then you just need to set up your forms for E-file in QuickBooks Desktop. The steps below will guide you throughout the entire process:

 

To set up your forms for E-file

  1. From the Employees menu, choose Payroll Center.
  2. Go to the File Forms tab.
  3. In the Other Activities section, select Change Filing Method.
  4. In the Payroll Setup, click Continue.
  5. Select Federal Form 940 from the list of forms and click Edit.
  6. In the Filing Method options, select E-file and click Finish. Repeat these steps for Federal Form 941.

To E-file the tax forms

  1. From the Employees menu, choose Payroll Center.
  2. Go to the File Forms tab.
  3. Select the form you need to file from the list.
  4. Click File Form.
  5. Select the form filing period and click OK.
  6. Review the forms and select Check For Errors. If needed, correct any errors.
  7. Click Submit Form button.
  8. Select the E-File button and follow the on-screen instructions to submit the form.

For more information about this, I recommend following these articles:

That should do it. With these resources, I'm confident that you'll be able to file the form in no time!

 

Keep in touch with me here if there's anything else you need. I always got your back. Thanks for reaching out, wishing you and your business the best.