- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
The IRS may compare the federal wages listed on your payroll tax forms 940 and 941 to the payroll amount listed on your tax return as an auditing technique to judge the accuracy of the income tax return. If it is only off $250, that is probably not going to cause any trouble, as it is immaterial. However, you could adjust the tax return payroll amount to make sure it agrees with the payroll tax return amounts to be cautious, and simply report the difference as labor or other expense.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎January 18, 2021
2:16 PM