Stan McFarland wrote:

- quote -

Only as hard as you make it.

You made the IRS deposit for taxes in March for the February
pay check and since you also drew a paycheck IN Marcy, you
make that blue coupon deposit during the month of April so
that when filing the 941 BY OR BEFORE April 30th, you're
all paid up.

BTW, If the quarterly total is less than 2500$, no need to
make deposits; just send a check with the 941.

Cheer$,
Harlan Lunsford, EA n LA

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Stan McFarland wrote:

- quote -

Ignore completely what months you're paying yourself wages
*for.* It only matters what months you pay yourself wages
*in.* Ignore completely what months you make 941 deposits
*in.* It only matters what months you make 941 deposits
*for* (as indicated by the quarter you shade on your
coupon).

In your scenario, you paid 2 months of wages *in* the first
quarter, which go on Line 2. You made 2 months of 941
deposits *for* the first quarter, which go on Line 14. No
balance due.

Phoebe

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- quote -

As long as it is under $2500 due, no problem. However, if
you are asking about first quarter payroll deposits in
actuality, and not just using that as an example, then you
DO have a problem in that the payment and the 941 are both
late. Form 941 for first quarter 2004 should have been
filed by April 30.

You might want to consider getting some professional help
with the payroll.

Carol
What can one expect of a day that begins with getting out of bed.

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"Stan McFarland" <stanmcfarland[at]comcast.net> wrote:

- quote -

You put the total amounts deposited for the quarter on line
14 despite the fact that the deposit for March was not made
until April 15, or so. As far as it goes, also, you are
talking about February and March (which are in the first
quarter of 2004). The Form 941 for that period was due on
or before April 30, 2004. By July 31, you are to have
completed the one for the second quarter.

Wayne Brasch, CPA, M. S. Taxation

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"Stan McFarland" <stanmcfarland[at]comcast.net> wrote:

- quote -

You need to make the April 15th deposit and allocate it to
the FIRST quarter when you prepare the 8109 coupon! this
principle works for the dates July 15, October 15, and
January 15 as well.

You are not alone in missing the concept of this issue!

I have on many occasion had move deposits miss-allocated (on
the 8109 coupon) because of the misconception of when
quarter taxes accrue VS the day when they get deposited.

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Hi,

I'm REALLY confused. I'm the owner and sole employee of a
subchapter S corp. For simplicity's sake, let's assume that
I began paying myself a salary at the start of 2004, and
that I cut paychecks monthly. So, I received no paycheck in
January, and received a paycheck in February for January's
work, and one in March for February's work. Now, the IRS
says "deposit Form 941 taxes on payments made during a month
by the 15th day of the following month." OK, so that means
that I don't have to make a payment to the IRS in February,
'cause I didn't receive a paycheck in January, and I pay the
IRS by March 15th for the paycheck I received in February.

So, this means I made one monthly payment to the IRS during
the quarter, even though I received two paychecks - once in
Feb and one in March. And this is where I get confused. If
I indicate two months of salary liability on line 2 of Form
941, and I only made one payment to the IRS which is
indicated on line 14, then line 15 is going to show a
balance due, which I don't think is a good thing.

What basic premise am I missing? It can't be this hard.

Thanks,

Stan McFarland

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