Form 941-X Lowell Massachusetts 2024-2025

Form 941-X Lowell Massachusetts: What You Should Know

Just provide the year, month and tax year for which you want the amended Form. M-941 statement — Mass.gov For more details on the Bandits Form 941 (M-941) and what we recommend for filing it, visit our webpage Form 941-X — Quarterly Adjustment for Withholding Tax Errors (for Form 1040) — Massachusetts Department of Revenue (FOR) What to file 941-X for? As previously discussed when you filed your first 1040 federal return using Form 1040A, you need to calculate the new IRS filing code for Form 1040. That's the second digit from the left of the line on Schedule A (Form 1040). You will use the Form 1040-B (Back-up Withheld Income Tax) for the old code for filing to determine your new federal income tax withholding code. As for each Form 1040 (the 1040A return and Form 1040) from the previous year (with or without a 1040-B), you will need to figure the new social security and Medicare withholding code as follows: Social Security Withholding = 2 % = 1.5 % Medicare Withholding = 1.45 % = 1.45 % (if less, your tax withheld is higher) To estimate the withholding taxes you'll need, you will need to go into your 1040 form and check: If it was an old Form 1040A (old 1040) with a Schedule A line that used Social Security, the last two digits for the code is the same as the code from Schedule A of your old 941-X, if it was an old Form 1040 or Form 1040-B and used: Social Security withholding = 3 % = 2.95% Health Insurance Withholding = 1.45 % = 1.45 % (if less, your tax withheld is higher) If it was an old Form 1040A with Schedule B line (old 941-X) that used Medicare, the last two digit for the code is the same as the code from Schedule B of your old 941-X, and if it was an old Form 1040 or Form 1040-B but didn't use: Social Security withholding = 3 % = 2.99% Medicare withholding = 1.45 % = 1.

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