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Overview

Form 941 is an essential form for all employers that pay employees and withhold federal and FICA (social security and Medicare) taxation. In recent years several changes to the 941 form have made it difficult to understand. The importance of reconciliation and completed of not only Form 941 but
Schedule B is becoming increasingly important for employers to avoid costly disputes with the IRS resulting in penalties and interest. With the several COVID-19 legislation being passed that includes tax credits for employers the form 941 will be a key form to claim these credits. This webinar will review the tax credits along with how to claim them on Form 941 once released
The COVID-19 pandemic has significantly affected our lives. It has always brought a lot of special legislation that impacts employers and how to complete the quarter 941 form. A lot of the COVID-19 tax credits have been extended into 2021. This webinar will give you the tools to understand how to properly handle the credits specific to the legislation in 2021.


Areas Covered in the Session

-941 Basic Requirements
       -Reporting Requirements
       -941 Due Dates
       -Electronic Filing
       -Signing Requirements
-Line by line review
-2020 and 2021 Updates
-COVID-19 Tax credits and Form 941
-Schedule B requirements and tips
-Reconciliation of Form 941 and W-2’s at year-end


Duration: 60 Minutes
Why Attend this Training

This webinar will give you the tools that will enable you to understand line by line of Form 941 better. By attending this webinar, you will get details around 2020 and 2021 updates to Form 941 and a review of common errors as reported by the IRS.

You will also get the understanding of:
       -Review of Schedule B and the importance of completing it correctly
       -Review of who should sign Form 941
       -Employer Retention Tax credit and the new form 7200
       -Details around which 7200 form should be processed
       -Social Security employer tax deferral


Suggested Attendees

-Payroll Professionals
-HR professionals


You may ask your Question directly to our expert during the Q&A session.

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