form-941

Form 941 Essentials

Total Seats: 500

Date and Time:

April 19, 2024 10:00 AM PDT - 11:30 AM PDT

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Description

COURSE OVERVIEW:

The quarterly Form 941 reports employee headcount, wages, and tips, taxes withheld from employee pay and employer taxes, and tax liability dates that establish due dates for tax deposits. It is the basis for IRS determination of employer compliance with the requirement to withhold and deposit employee income tax and Social Security and Medicare taxes. The tax liability section and Schedule B provide the basis for IRS assessment of deposit penalties.

This webinar covers the fundamental aspects of Form 941 including when to use Form 943, Form 944, or Form 945 instead of Form 941. It also covers the determination of the tax deposit period and the due dates for deposits, a line-by-line walk-through of Form 941, special adjustments required for certain reconciling items such as fractions of cents, uncollected Social Security and Medicare taxes on group term life insurance, and tips, and sick pay. Collection and enforcement of federal employment taxes is a current priority for the IRS.

AREAS COVERED:

  • When to use Form 941 – Related Forms 944, 943, and 945
  • Form 941 fundamentals – A walk through Form 941
  • Return Due Dates
  • Who should sign Form 941 and what the signature represents
  • Reporting third-party sick pay, group term life insurance, and tips correctly
  • How to reconcile Form 941 with Form W2
  • Tax deposit and reporting requirements – How to determine your deposit schedule

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LEARNING OBJECTIVES:

After completion of this session, participants will:

  • Know how to prepare an error-free Form 941
  • Know when to use Form 941 or the related Forms 944, 943, and 945
  • Understand what constitutes taxable wages and why the amounts are different for different
  • taxes
  • Know how to report tax amounts and how to make adjustments for rounding errors
  • Know the filing due dates
  • Understand the proper reporting of federal tax liability
  • Know who should sign the Form 941 and what the signature represents
  • Know when and how to report third-party sick pay, group term life insurance, and tips
  • Understand the importance of reconciliation of Form 941 with Form W2
  • When to use Form 941 – Related Forms 944, 943, and 945

WHY SHOULD YOU ATTEND?

Form 941 is the link between payroll records and the IRS tax records. It is one of the most important compliance areas in payroll. Form 941 must be prepared correctly and reconciled with the quarterly payroll records. It must also be reconciled annually with third-party sick pay records and W-2 Forms.

Proper administration of this vital form is critical for avoiding IRS notices and mitigating any penalties and interest that accompany them. The Schedule B is also a crucial form for many employers. Deposit liability dates must match the payroll records. These dates establish the deposit due dates and provide the basis for tax deposit compliance penalties.

WHO WILL BENEFIT:

  • Payroll Supervisors and Personnel
  • Accounts Payable Supervisors and Personnel
  • Public Accountants
  • Internal Auditors
  • Tax Compliance Officers
  • Enrolled Agents
  • Officers and Managers with Tax Compliance Oversight
  • Company / Business Owners
  • Managers/ Supervisors
  • Public Agency Managers
  • Audit and Compliance Personnel / Risk Managers

ABOUT THE INSTRUCTOR:

Jason Dinesen (EA, LPA) is a tax nerd, entrepreneur, tax expert, and a well-known presenter of Continuing Education courses.

Known for his sharp tax interpretations, he is one of the quickest to bring the analysis of the latest tax updates and IRS guidance to the professional community. Jason has coached over 200,000 accounting, tax, and HR professionals on various topics of accounting, individual taxation, corporate taxation, professional ethics, and much more.

He has presented dozens of webinars on Form 1099 (for 10 years on this subject!); marriage in the tax code; tax updates; the new Form W-4, payroll updates, filing status, tax credit, and other issues relating to the modern-day household setting.

He also teaches Individual Income Tax and Business Analytics.

Jason always had a knack for radio shows and has regularly featured as an anchor for Radio Iowa. Jason was born and raised in Iowa and has a degree in corporate communications from Simpson College in Indianola.

Refund policy:

Attendees may cancel up to two working days before the course start date and the refund will be processed within two working days.

We will process/provide a refund if the webinar is canceled. Refunds will not be given to participants who do not attend the webinar. On-demand recordings can be requested in exchange. Webinar may be canceled due to lack of enrolment or unavoidable factors. Attendees will be notified 24 hours in advance if a cancellation occurs. Substitutions can happen anytime.

If you have any concerns about the content of the webinar and are not satisfied, please contact us at care@thecomplyguide.com

Register Now:

Ticket type: Ticket Qty: Per Ticket Price:
One dial-in, one attendee
$245.00
One dial-in, one attendee + Recording
$345.00
Group - up to 5 attendees
$395.00
Group - up to 10 attendees
$595.00
Recording
$245.00
Quantity: Total