For both Federal 941 and 940 in QuickBooks Desktop Payroll, users may submit an updated tax form. Users of the QuickBooks Desktop Payroll Enhanced edition may easily submit their changed tax returns. We will go over all the steps in the present blog to submit a corrected federal form 941 and 940 in QuickBooks Desktop Payroll.

QuickBooks Desktop Payroll Corrected Federal Form 941 and 940 File Steps

QuickBooks Desktop Payroll lets you rectify Form 941 or 940 for your business. Steps to correct federal forms 941 and 940 in QuickBooks:

Step 1: Select the Form.

QuickBooks users should complete an amendment form right once they see an error in the federal Form.  Use one of these forms to fix the error:

For a federal form 941, form 941-X.

Regarding the federal form 940, the X form does not exist. Users should, therefore, make use of the year the federal Form 940 was submitted.

Step 2: Know about the amendment forms

Corrective actions that can be done:Form 941-XCorrect them using Form 941-X:

Wages, tips, and other payouts.Taxable Social Security GuidelinesIncome tax from salaries, tips, and other kinds of remuneration withheldTaxable Medicare rates and gratuitiesTaxable Social Security PayrollTaxable Social Security Advice Whether the user is under-reported or over-reported, the tax will determine when users choose to send in Form 941-X. This will also help to define the error identified.One may review page five of the Form 941-X guidelines.Type 940.In this regard, users should use the same federal Form 940 matching the year of filing.Additionally, in the top-right corner of Form 940 on page 1a, box a, users may tick the modified return box. Typing all quantities in the original Form is advised for users.Users should consult Form 940 to get any further clarity.

Step 3: Preparing and submitting amendment forms

Although the user has e-filed the original Form, utilizing a paper return is required even as the amendment form is being used from a file.Before any changed return is generated, the user should make sure they input the required liability adjustments.Note: Depending on your filing method and the kind of adjustment you made, you may be obliged to send your revised Form by mail or online.Form 941XForm 941-X's preparation and submission in QuickBooks Desktop Payroll follow these steps:Go first to the Employees page and select Payroll Tax Forms and W-2s.Select Process Payroll Forms as your choice.Choose Quarterly Form 941-X – Adjusted Employer's Quarterly Federal Tax Return or Claim for Refund under the File Forms section.Choose Create Form as your choice.Choose the Filing Period you want to alter after that, then click OK.Decide which return you need to amend, then choose the quarter.Type the year that should be altered.Choose the date the federal Form's flaws were discovered. Use the suggested structure.Select the method to fix the employment tax:Underreported values onlyOnly by using the adjustment or claim procedure will over-reported values be evident.Combining under and over-reported values in one 941-XAfter selecting the method, press Next. Tell us then the date the mistakes were found.First, Select only one process. Make sure the selected procedure corresponds exactly with the interview component of the federal Form.Part 2: Finish the certificates. Choose all that apply, or choose one or more boxes. Then, tap on Next.Part 3: Add any adjustments fitting for the quarter. Users should leave any line blank should anyone not apply. Hit on Next later.For Form 941-X, users should review the IRS Instructions to have any questions concerning form completion allayed.Fourth: List every improvement done in Part 3. One may easily understand the specifics in paragraph form. Users should additionally provide an IRS notification attachment.The next step is printing and sending the federal Form per IRS recommendations for form 941-X.

Steps for amending Form 940

Amending Form 940 in QuickBooks Desktop Payroll is done as follows:Go first to the Employees tab.From there, choose W-2 forms and Payroll Tax Forms.Click on the Process Payroll Forms.Proceed from there, under the File Forms area, to choose Annual Form 940/Sch. A – FUTA Tax Return.Click on the Create Form's option.After that, input the year of filing that has to be updated and then strike OK.Hit on Next using the box matching the amended return.Check the figures on page 2 to see if the values entered match those that ought to be in the original Form.The user should also provide any pertinent information on the reason for changes to the Federal form.That sums it up.Keep a copy of the revised Form for your records; if you have questions or worries about the filing procedure, see a trained tax expert for further help.

Accumulating Notes!

The present blog covered in great depth the many ways to enter corrected Federal Forms 941 and 940 into QuickBooks Desktop Payroll. Users who believe they require technical direction may contact our QuickBooks payroll technical help staff. Our professionals are ready around the clock to handle different customer questions.