The redesign of the employment tax return Form 941, Employer’s Quarterly Federal Tax Return, is a welcome sight to many businesses, tax practitioners and payroll companies, according to officials at JK Harris & Company.
[ClickPress, Fri Mar 04 2005] NORTH CHARLESTON, S.C. – The redesign of the employment tax return Form 941, Employer’s Quarterly Federal Tax Return, is a welcome sight to many businesses, tax practitioners and payroll companies, according to officials at JK Harris & Company.
The nation’s largest and most successful tax resolution company, JK Harris prepares thousands of tax returns annually for individuals and small businesses.
Peter Hukki, an Enrolled Agent for JK Harris, said the form is easier to follow, and the instructions have been greatly improved.
“The improved format should help all business owners, but especially new business owners,” said Hukki, who has been an Enrolled Agent since 1974. “Tax adjustments, and there can be a few, are designed so the business person filling out the form can make whatever adjustments are necessary a lot easier. The form is much less confusing.”
The redesigned form features an improved layout, plain language instructions, simplified deposit reporting and paid preparer identification. The form can also be scanned, which the IRS expects will reduce transcription errors.
According to the IRS, 23 million Form 941s are filed annually by 6.6 million employers. Form 941 is used to report wages, tips and other compensation paid, as well as Social Security, Medicare and income taxes collected.
JK Harris & Company, LLC (www.jkharris.com) is based in North Charleston, S.C. JK Harris & Company is the nation’s largest tax resolution company with over 470 satellite offices in 45 states and has serviced over 130,000 clients since its founding in 1997 by John K. Harris. JK Harris also provides services for consumer and commercial debt, student loan debt, investment fraud, financial planning, small business services, mortgage services, tax return preparation, and assisting individuals who require support for an IRS audit.