Payroll and IRS Form 941 Update (OnDemand Webinar)

$199.00

SKU: 408760EAU

Description

Understand the new tax credits for COVID19 and how to report them on Form 941 and review the new Form 7200 for 2021.Learn about the updates to consider with IRS Form 941, which is essential in payroll for your employees. 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 Form 941 have made it difficult to understand. The importance of reconciliation and completing 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. This topic will explain proper withholding taxation so you can better understand the importance of withholding and reporting and ensure that Form 941 is always accurate.

Date: 2021-06-04 Start Time: End Time:

Learning Objectives

Withholding Taxes
• Calculating Taxable Earnings
• IRS Definition of Taxable Earnings
• Fair Market Value
• Fringe Benefit Taxation

Social Security and Medicare Taxes

Tax Calculations
• Tax Calculation Examples

Form 941 Basic Requirements
• Reporting Requirements
• Form 941 Due Dates
• Electronic Filing
• Signing Requirements

COVID-19 Legislation That Impacts 2020 and 2021 Reporting
• Line by Line Review and Details of 2021 New Form 941 and the Extended COVID-19 Credits
• Schedule B Requirements and Tips
• Reconciliation of Form 941 and W-2s at Year End
• 941-X Forms and How to Deal With Them
• IRS Notices, Disputes, and How to Deal With Them

AIPB ,CPP/FPC ,HR Certification Institute ,SHRM ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Dayna J. Reum, CPP, FPC-Dayna J. Reum