Creating a 941-V form
- Click on the Payer List button.
- Choose the Payer.
- Click on the Add Form button.
- Choose the 941-X option from the Form Name drop down menu.
- Choose the type of return you are correcting and the appropriate quarter.
- Enter the applicable information.
Note: Lines 8, 9, 10 & 11: Yearli automatically calculates the full amount of social security and Medicare taxes (combined employer and employee share) and calculates Additional Medicare Tax using the standard rate. If you need to correct only the employer share of social security and Medicare taxes, or to make other adjustments to the tax in Column 4, check the Override checkbox and enter the adjusted amount in Column 4.