I appreciate you reaching out with your detailed explanation, User4336. Let’s delve into potential reasons for this discrepancy and steps to resolve it.
Here are some possible causes and steps to identify the difference between your Form 941 and Form W3 for Medicare tax:
- Double-Check Payroll Data: Run a Payroll Summary Report for the year to ensure all payroll data is accurate. Look for any discrepancies in the Medicare wages and taxes for each quarter.
- Review Each Quarter: Compare each quarter’s Form 941 with the corresponding payroll records. Look for any missing or extra entries that might explain the difference.
- Check for Adjustments: Review any payroll adjustments made throughout the year. Adjustments for prior periods can sometimes cause discrepancies between the forms.
- Manual Adjustments: If we find any discrepancies, I recommend contacting the Payroll Correction team. They can securely access your account and make the necessary adjustments. Their tailored assistance will help ensure your records are accurate.
You can also check out this article for another way to contact our support team and view its support hours: QuickBooks Online Support.
Maximize the advantages of utilizing payroll reports in QuickBooks Online to uncover valuable business insights, optimize understanding of payroll taxes, and empower strategic decision-making with employee data.
By following these steps, we should be able to identify and correct the discrepancy. If you need further guidance or have additional questions, feel free to ask. We are here to help ensure your payroll records are accurate and compliant.
