The Payroll/Income Tax Worksheet is an spreadsheet that is designed to help you calculate Federal Income Tax 941 payment based on your weekly payroll totals. You can simply enter the information and the spreadsheet will calculate the totals for you.
This spreadsheet does not automatically calculate the % of payroll tax that you need to pay. You must calculate that information yourself as each company has different multipliers. However, it makes it easier to add up the totals of all federal payroll taxes and provides you with a quick reference sheet that you can use to keep track of your weekly numbers.