Hire credit and form 941

[acctax01]

To claim the HIRE credit for 3rd and 4th quarters: If I select a qualified “Employee” then select the “Pay” tab then under the “Exempt From” box change FICA from N to Y Will PayWindow automacally handle all the calculations and entries for the new Form 941 or will I have to do the calculations and entires manually with the help of the 80 Column report and the Employer’s Total Report?

Also, if I edit the Company profile under the “Deductions” tab by checking boxes FICA and 941 then entering CC under Code and 12 under W-2 will PayWindow automatically take care of year end W-2 / W-3 entries and calculations?

Thanks.

[Paul Mayer]

Since this special "employer exemption", NOT "employee exemption", you need to do the math yourself on the 941 as that is the only place it is reported. By checking the exemption box, it will be off on the W2 Forms and everything since it is just the employer contribution that is affected.

Just follow the instructions on the 941 for completing this special exemption.