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Video instructions and help with filling out and completing Will 940 Schedule Return

Instructions and Help about Will 940 Schedule Return

In this presentation we will reconcile our year-end payroll forms and in essence double check that they've been filled out correctly for more accounting information and accounting courses visit our website at accounting instruction dot info so we have here our forms 941 and the w3 these are the two forms that we can use to reconcile each other and make sure that the two forms have been filled out correctly we can double check in other words our quarterly form by tying it out to the w3 and vice-versa check the w3 - the quarterly forms remember what these quarterly forms are doing is they're are calculating the three main taxes which are the FI t federal income tax for the employees the social security tax for employees and employer and the Medicare tax for employees and employers this is going to be done on a quarterly basis so we got January February March April May June July August September October November December or quarter for quarter three quarter to quarter one the w3 of course is just a yearly form that will be reported at the end of the year summarizing all the W tubes that we send to both the employees and the IRS so what we can do is double check these forms because we can see here on the totals here we have the total wages Social Security and Medicare wages as well as the calculations for federal income tax Social Security tax and Medicare taxes which have been withheld so to do that we're gonna try to match these up now what we don't show here is the 940 the net form 940 which is the year-end form and that's because it's reporting futa which is just a tax for is an employer only...