941 Report Fractions of Cents

Question

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?

Denise Paulus · Answer

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.

Sage Construction & Real Estate

941 Report Fractions of Cents

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