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Vol. 54 No. 3 / Third Quarter 2011 The Official Publication of the Florida Society of Anesthesiologists / Serving Anesthesiologists and Patients Join FSA PAC Today! . . . . . . . . . . . Page 4 David
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The third quarter form typically refers to Form 941, which is used to report income taxes withheld from employees' wages, employer's share of social security and Medicare taxes, and to pay the employer's portion of FICA taxes.
Employers who have employees and withhold federal income taxes, social security, and Medicare taxes are required to file Form 941 for each quarter.
Form 941 can be filled out either manually or electronically. Employers need to provide information such as total wages paid, federal income tax withheld, and the employer and employee portion of FICA taxes.
The purpose of Form 941 is to report employment taxes, including federal income tax withheld, social security taxes, and Medicare taxes, and to reconcile any overpayment or underpayment of taxes.
Information such as total wages paid, federal income tax withheld, and the employer and employee portion of FICA taxes must be reported on Form 941.
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