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As the only owner of an S Corp I prepared a W-2 for myself for $8468. I already exceeded the SS limit on a different W-2 and want no personal income tax withheld. I must however, write in Medicare withholding of $123. The problem is I didn't submit a 941 meaning I didn't pay the $123. Do I wait for the IRS to bill me for the $123? Should I prepare a 1099 Misc instead of a W-2? What's the best way to handle this?
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I think youve landed in the wrong place. This is a message board for professional tax preparers. You may want to repost your question in the TurboTax message boards for DIYers.
https://ttlc.intuit.com/questions
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This is Meaningless: "I already exceeded the SS limit on a different W-2"
Because that requirement is per Employer.
This is an Error on your part, as the Employer: "I must however, write in Medicare withholding of $123. The problem is I didn't submit a 941 meaning I didn't pay the $123."
The 941 is for Payroll. Not just because there is or is not something that needs to also be paid in.
"Do I wait for the IRS to bill me for the $123?"
You need to finish all of your payroll paperwork, even if it is This Late. Your 1120S is wrong, too.
You need Professional Help in person.
"Level Up" is a gaming function, not a real life function.