How to Fill Out IRS Form 941 - S Corporation Example for 2nd Quarter

This Step-by-Step instruction on completing Form 941 (Quarterly Payroll Tax Return) for an S corporation with one shareholder employee.
Employers file Form 941 to report company payroll, which includes wages, social security taxes, Medicare taxes, federal income tax withholding, and any available payroll tax credits and payments.
In this example, we look at a Form 941 filing for the second quarter ending June 30, 2024. The company already filed its 1st Quarter Form 941 in April 2024. The company is a Florida S corporation with one shareholder-employee. His wages must also include the amount of his shareholder health insurance paid by the S corporation. The company made an estimated payroll tax deposit using the IRS' EFTPS system for online payments.
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