IRS Form 941 - S Corporation Example for 4th 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 4th quarter ending December 31, 2024. The company already filed its 1st, 2nd & 3rd Quarter Forms 941. 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.
During the 4th quarter, the shareholder changed his monthly pay from the prior periods. In this example, we show the relevant adjustments and recalculations.
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2nd Quarter Form 941: • How to Fill Out IRS Fo...
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[@marketbuy]

Hi Jason. Can you do a video on Accountable Plan? Thank you

[@marketbuy]

On line2, I don’t include my health insurance cost with my wage. I enter just my wage on line 2. Is that wrong? I’ve been doing that for 6 yrs now. 😅