Description
Gain a better understanding of what does and doesnt belong on a 941 and how to selfreview before an official review happens.
Form 941 is essential 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 reconciliation and completion 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. The COVID19 pandemic has also caused additional legislation to be passed that impacts Form 941. This presentation will review the latest updates and all the legislation that has changed the COVID credits that impact Form 941 till current.
March 27, 1:00 – 2:40 pm EST
Learning Objectives
* You will be able to discuss Form 941 linebyline.
* You will be able to explain Form 941 basic requirements, including reporting, filing, and signing.
* You will be able to identify 2023 updates to Form 941 and common errors as reported by the IRS.
* You will be able to review Schedule B and the importance of completing it correctly.