2. Within QuickBooks, create a Payroll Report that summarizes payroll for the 3rd quarter (July-September). 

Export this report to Microsoft Excel and complete Form 941 for the 3rd quarter. Assume that the employees earned the same amount during each pay period of the 3rd quarter and that there were five, four, and four pay periods during the months of July, August, and September, respectively. Note that based on the lookback period, the company is a monthly depositor that made timely payments throughout the entire year. Although Vermont quarterly state payroll forms are also filed by Ampersand, Inc., you will not complete these.

3. Within QuickBooks, create three Payroll Reports that summarize payroll data for each of the three months (October-December) of the 4th quarter (in the same manner that a payroll register summarizes such data). 

Export these three reports to Microsoft Excel.

4. Within QuickBooks, create a Payroll Report that summarizes payroll data for the 4th quarter (October December). Export this report to Microsoft Excel. Then complete Form 941 for the 4th quarter. Note that based on the lookback period, the company is a monthly depositor that made timely payments throughout the entire year. Although Vermont quarterly state payroll forms are also filed by Ampersand, Inc., you will not complete these.

5. Within QuickBooks, create a Payroll Report that summarizes payroll data for the entire year. Export the report to Microsoft Excel. Then complete Form 940 for Ampersand, Inc. Note that 401(k) deductions are taxable for FUTA and that FUTA payments are made only when required (i.e., if the employer is permitted to postpone the payment of these taxes, it will do so until a point in time when payment must be remitted).

6. Calculate total SUTA tax owed by the employer. Although Ampersand, Inc., will file state forms in which this figure is reported, you are required to calculate only the total amount owed for the year and provide it to your instructor via a Microsoft Excel file. 

7. Based on the QuickBooks reports previously generated, complete Copy A of Form W-2 for each of the four employees using the blank PDF form available in the Student Exercise Files download from the Learning Resource Center (labyrinthelab.com/lrc). State wages were the same as federal wages subject to federal withholding tax for each of the four employees, and the state identification number for Ampersand, Inc., was provided earlier in the project.

8. Based on the QuickBooks reports previously generated, complete Form W-3 for Ampersand, Inc. Note that the company files the paper version of the form and selects “None apply" in the Kind of Employer section.