| | Why is there an amount in Box 7 of my Form 941? |
| Cause | Line 7 on the 941 is used to balance the Total liability for the quarter on the Schedule B to the Total taxes before adjustments on Line 6 less any applicable credits or adjustments. The amount in Line 7 should be small as it's an adjustment due to rounding. |
| Resolution | [BCB:5:Third-party support:ECB] Verify the tax liability from your check records: - From your Payroll Reports menu, select Pay Period Processing, Deposit Summary.
- Enter the full quarter beginning and ending dates in the From Check Date and to fields.
Note: Per IRS Regulations, the tax reports and tax forms are based on Check Date. Use Check Date conditions on reports when verifying your tax totals. - Verify that the Contribution amount for SOC, SOC_E, MED, MED_E, and MEDADDL equals the Subject-To amount multiplied by the tax rate.
- If the Contribution amount is wrong, run the Reports, Tax Preparation, Subject-to Date Range report for employee and employer taxes to determine the affected employees.
- Make any necessary corrections in Payroll and generate your Form 941 again.
Note: Certain amounts entered on Form 941 may require an adjustment to the totals on the Schedule B. For more information, see the IRS instructions at https://www.irs.gov/pub/irs-pdf/i941.pdf
[BCB:156:Chat 300 CRE US:ECB]
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