The IRS 941 Schedule B form is filed at the end of each quarter on your behalf. This form requires a listing of each of the pay periods (by pay date), the total taxes paid, and total quarter-to-date and year-to-date amounts for the quarter.
Enter pay periods
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Navigate to the Mid-quarter transition > MidQ conversion - Periods tab.
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For each paygroup, list all pay dates since the beginning of the quarter according to the paygroup’s pay schedule.
Enter tax information
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Navigate to the Mid-quarter transition > MidQ conversion - Taxes tab.
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For each paygroup, enter the employer and employee contributions for federal, state, and local taxes as dollar amounts. Note: if employees in the same paygroup are in different states, you must enter the state tax information for each individual state.
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Save changes to review mid-quarter information.
Review mid-quarter transition information
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Navigate to the Mid-quarter transition > MidQ conversion - Review tab.
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Review all tax information for each paygroup at the federal, state, and local level.
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To make changes, click the pay date link for the period you need to change. Note: review all the information carefully before you finalize it because changes cannot be made once the information has been submitted.
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Click “Finalize” to submit mid-quarter transition information.
Note: Wagepoint assumes you have paid all prior taxes, except FUTA and SUTA contributions. Request a refund from your previous provider for FUTA and SUTA contributions so that Wagepoint can remit those taxes on your behalf. Learn more about switching payroll providers.
Leena @ Wagepoint
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