941 Report Fractions of Cents

Just went to do our 941 and we did not make a final tax payment for the quarter to account for COVID payments. My fractions of cents is over $700 - why? The final overpayment on the form is correct because we are still owed money, but I get an error message from Aatrix about the large fractions of cents - how do I fix this? 

  • It may be due to the tax liablity amounts that will need to be edited manually when processing the form in Aatrix.  We have many KB articles related to processing the form in Q2 2020. The specific issue you mention here is outlined in summary on KB 105678.  There is a link in that article to KB 105192 that includes more details associated with processing this form, including an attached WORD document that covers editing the tax liability amounts.

  • Maybe I missing something in the rules as what qualfies as wages eligible for credit, but after making all the necessary adjustments to Schedule B the fractions of cents on our return is the difference between "Gross" and "Taxable (subject-to)" wages for the employees with COVID pay.  The Sage SOC_E report also puts "Gross" wages in the COVID column but the adjustment to SOC_E column is the taxable amount.  This distorts things a bit - espcially when an employee went on COVID pay mid week.  Our difference was not as large as Vicki's as we did not have many employees on COVID pay and so it passes the Aatrix "check".