You have completed the 4th quarter 941 and you have mailed out the W-2’s, but did you compare the numbers? The IRS will compare them and send you one of their tacky letters if there are differences. So before you send that W-3 to the IRS, check the following calculations…

  • Does the total of line 2 on all four 941’s equal box 1 on the form W-3?
  • Does the total of line 3 on all four 941’s equal box 2 on the form W-3?
  • Does the total of line 5a on all four 941’s equal box 3 on the W-3?
  • Does the total of line 5c on all four 941’s equal box 5 on the W-3?

If these numbers all agree based on the formulas above, you have done well. If they do not, then you may need to correct either the 941’s or the W-2’s. If you need assistance, please give our office a call at 281-399-8153.