QUARTERLY TAX REPORTS

 

 

 

 

DESCRIPTION:  Quarterly Tax Reports is used to calculate and report the payroll tax liability for the quarter.

 

 

 

To access:  Click on the Payroll module  then click the Quarterly Tax Reports menu item.   

 

The following window will appear:

 

 

 

To calculate quarterly taxes, Select the Year and the Quarter you wish to calculate by using the drop down list.

 

Enter the Number of Employees who received wages, tips, or other compensation for the pay period.

 

Enter the Tax Payments made to the IRS for the quarter by clicking the button  in the field.

 

The following window will appear:

 

 

 

The Tax Payments window allows you to enter payroll tax payments made during the quarter.  The first time you open the window for the quarter, the grid will automatically populate with payment entries based on calculated payrolls, third party sick pay, and any overpayment from the previous quarter applied to this quarter.  You can either modify an entry by double-clicking the cell you wish to change or you can make a new entry by clicking the Click here to add a new row and entering the payment information.  To delete an entry, click the red X next to the entry you want to delete.  To delete all manually entered payments and reset the entries to what is automatically generated, click the Use Default Payments button.  When you have entered all your tax payments for the quarter, click the Done button.  You will return to the Quarterly Tax Reports window and the total of your tax payments for the quarter will appear in the Tax Payments to IRS field.

 

Click the Calculate button.  When the quarterly taxes have been calculated, a message window will appear indicating whether you have an overpayment or a balance due as well as the amount.  If you do not have an overpayment, Click OK.  If you have an overpayment, click Yes if you wish to apply the overpayment to your next quarterly tax report.  Click No if you wish to receive a refund check.

 

To print a calculated 941 Form, under the Federal Tab, Select the form you want to print by using the drop down list.  Click the Print button.  A window will appear with your selected form.

 

To print a state quarterly tax E-file, click on the State Tab.  Select your State by using the drop down list.  Fill in the required fields.  For Michigan employers this will be your Employer Account # and Taxable Wage Limit.

 

To create the wage file when reporting your quarterly wages to the state, click the MI 1028 File (Create E-file) button.  Select where you would like to save the file.  Once the file is created, a success message window will appear.  Click OK.

 

To print a state quarterly tax form, Select the form to print by using the drop down list.  Click the Print button.  A report window will appear allowing you to generate the required form.

 

To uncalculate an already calculated quarter's taxes, Select the Year and Quarter by using the drop down list.  Click the Uncalculate button.  A confirmation window will appear:  Are you sure you would like to uncalculate this quarter's taxes?  Click Yes.  When the quarterly taxes have been uncalculated, a success message window will appear.  Click OK.

 

Click on the X in the upper right corner of the window to close the window.