Form 941 For 20: Fill & Download for Free

Easy. Just fill out Form 941–20-A from the Atheist Society (Form 941–20-B if you’re from Minnesota, North Dakota, South Dakota or Hawaii). Don’t forget to fill out the other side of the form, where it asks for your Junior Atheist Badge Number and sign the Atheist’s Pledge down at the bottom, staple a check for $20 made out to God and send it to the address on the form. You’ll be in.

Full Time Employees (FTE) and Full Time Equivalent Employees (FTEE) will be used, for example, to calculate loan forgiveness for the Paycheck Protection Program (PPP).Imagine you have 2 employees working 20 hours per week. One of them quits, so you increase the number of hours of the other one to 40. A report looking at number of employees will show a 50% reduction in number of employees. In reality, you are paying for the same number of hours (40). Using the concept of FTE or FTEE solves that problem.A common mistake when calculating the number of employees is to use payroll reports or form 941 instead of FTEE.The reports issued by payroll providers (e.g. ADP, Paycheck) overstate the number of FTEE due to rotation. Those overstated numbers are also reflected on form 941.For example, if you employ 100 people but 1/3 of them have rotated, the reports will show 133. This is because these reports count all social security numbers included in the payroll. Thus, despite the fact that you only had 100 people at any given time, the reports will show 133.I teach a Finance class at NYU. Below is one slide I use for one of one of my classes related to FTE.More information is available on my Linkedin page.

US perspective from a tax manager at a payroll company responsible for doing just this:Step 1: Pull up Google.Step 2: Find a payroll company. (If you want to do 1st Quarter reports, ADP and Paychex won’t help. It’s too late. But smaller payroll companies may file for you.)Step 3: Give said payroll company all your data. Pay their fees.Voila! Your quarterly payroll reports are filed!(In other words: LMGTFY.)Or get Quickbooks and let them walk you through it. I hope you have an easy payroll if you go that route. Penalties and interest pile up fast if you make an error.Okay…serious answer. Hope you have some time to spare. Read this:About Publication 15, (Circular E), Employer's Tax GuideThat gives step-by-step instructions as to how to file a Form 941. (If you don’t know what a Form 941 is, I highly recommend going to Step 1 above.)Google your state to find how to file with them. Every state has different filing requirements. And don’t forget, most states require you to file both withholding returns and unemployment returns, which may contain ancillary taxes in addition to the regular taxes. AND make sure you file accurately - some states require online filing while others don’t have online filing available.Best wishes! It may be Easter Sunday, but I now have to get back to work. (And I’ve been doing this for 20+ years.)