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Form 941 Compliance: New Form, New Worksheets

In this 75-minute training, you will learn how to:

  • Properly complete the 941 and Schedule B.

    New lines on the 941 reflect the pandemic-related payroll credits, but old problems persist.

  • Reduce your tax liability with refundable credits.

    Refundable credits are new to payroll, so you need to be able to spot them before you can use them.

  • Make interest-free adjustments.

    Mistakes happen, but they don’t need to cost a penny—if you do things right.

Avoid surprise tax penalties later by learning the new steps to 941 compliance now.

Completing Form 941 (Employer’s Quarterly Federal Tax Return) was never a snap. Now it’s gotten more challenging as the IRS has added more lines and new complexity to the form. You have to deal with five new worksheets, new reconciliations to perform and new payments to employees that you must report as taxable wages (e.g., reimbursements of certain work-at-home expenses).

In this webinar recording, you’ll get the training and tools to correctly complete the new Form 941, the accompanying worksheets and Schedule B. Discover the most common mistakes that employers now make with Schedule B and how to correct them. Plus, learn how the IRS treats your forms in its Business Master File and how to secure employees’ consents for tax refunds.

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Agenda for Form 941 Compliance

  • Line-by-line advice for properly completing the 941
  • How to reconcile the 941 with the Schedule B and your W-2 review
  • 8 easy pre-filing steps that will keep you in the IRS’ good graces
  • The 1 key mailing tip that will always get you out of trouble (even if the IRS doesn’t get your form)
  • Understanding the form deadlines. The 10-day grace period sounds good, but usually come back to haunt you
  • How the IRS’ offset procedure works for tax underpayments and why it’s important to work with all departments in your company that handle taxes
  • The 2 key 941 mistakes that will invariably get you in trouble with the IRS
  • How to work with third-party filing partners. A few basic internal controls can avoid the double-payment trap
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Alice Gilman, Esq., is an expert in payroll and tax compliance who has covered payroll issues for more than 26 years. She's written and edited several leading payroll publications, including Payroll Legal Alert, the Research Institute of America's Payroll Guide, the American Payroll Association's Basic Guide to Payroll and the Payroll Manager's Letter.

Alice Gilman
Alice Gilman esquire and author

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Professional Certification Credit Hours Included

Business Management Daily is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CP® or SHRM-SCP®.

The use of this official seal confirms that this Activity has met HR Certification Institute’s® (HRCI®) criteria for recertification credit pre-approval.

We promise you'll be satisfied.

If Form 941 Compliance fails to meet your needs, we will refund every penny you paid – no hassles, no questions asked.