Second Quarter 941 Deadline

The IRS deadline, to file the second quarter 941 form (Employer’s Quarterly Federal Tax Return) is nearing. To be compliant with government regulations this is one of many payroll forms business owners and employers need to prepare. Employers use this form to report wages paid, tips received by employees, federal income tax withheld, both the employee and employer portion of Social Security and Medicare taxes, the current quarter’s adjustments to Social Security and Medicare tax for fraction of cents, sick pay, tips, group-term life insurance, advanced earned income tax credit (EIC) payments and credit for COBRA premium assistance payments.

Those employers, who filed the first quarter 941 form, for 2009, may recall the credit for COBRA premium assistance payments line was a new addition at the time. This line was added to accommodate the COBRA premium benefits outlined in the American Recovery and Reinvestment Act of 2009.

Form 941 is due the last day of the month that follows the end of the quarter. Second quarter 941 Form is due on July 31, 2009 and includes payroll periods in April, May and June. Third quarter 941 Form is due October 31, 2009 and includes payroll periods in July, August and September. Fourth quarter 941 Form is due January 31, 2010 and includes payroll periods in October, November and December.

Preparing this can be cumbersome and time consuming. Comprehensive payroll software that includes payroll forms and reports can save business owners time and money. An automated payroll solution can save employers from possible mistakes during tedious calculations when completing payroll forms.

Many states have undergone tax table changes in 2009. Another dilemma averted by an automated payroll program. Receive automatic tax table updates and payroll forms with Payroll Mate. Payroll Mate is a user friendly, cost effective payroll solution.

A free demo version can be downloaded at payroll software download

2009 California Withholding Schedules Replaced

Recently a number of states have amended their tax withholding schedules.Using a payroll software can assist you in achieving a smooth transition when applying income tax changes.

As a result of the recent budget, the California Withholding Schedules for 2009 included in the 2009 California Employer’s Guide have been replaced.The schedules have been updated to accurately reflect the withholding amounts that should be withheld in each bracket of income at the time of the employee’s payroll.

Information regarding Method B- Exact calculation method can be found at http://www.edd.ca.gov/pdf_pub_ctr/09methb.pdf

For additional information about California Personal Income Tax www.ftb.ca.gov

This California payroll software has completed the updates and sent the new tax changes, by the internet, to their customers.

Download a free demo of this payroll software: Payroll Mate