Updated Form 941 and how to handle with the New COVID-19 Credits


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Schedule
May 19, 2022 || 01:00 PM ET / 10:00 AM PT
Duration
60 Mins
Level
Intermediate
Webinar ID
70071

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This webinar will give you the tools to better be able to understand line by line of Form 941

 » Details around 2020 updates to the form 941 and review of common errors as reported by the IRS
 » 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
 » Social Security employer tax deferral

Why Should you Attend

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 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. 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.

Areas Covered

 » 941 Basic Requirements
 » Reporting Requirements
 » 941 Due Dates
 » Electronic Filing
 » Signing Requirements
 » Line by line review
 » COVID-19 Tax credits and Form 941
 » Schedule B requirements and tips
 » Reconciliation of Form 941 and W-2's at year-end
 » 941-x forms and how to deal with them

Who will Benefit

» Payroll Professionals
» Tax Professionals
» Accounting Personnel
» Controllers

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Dayna J. Reum

Dayna is currently the Director of Payroll Operations at a major medical center in Chicago.  Dayna has been heavily involved in the payroll field over 17 years.  Starting as a payroll clerk at a small Tucson company, Dayna moved on to be a Payroll Team Leader at Honeywell Inc.  During Dayna’s time at Honeywell she obtained her FPC (Fundamental Payroll Certification) through the American Payroll Association.  She also received several merit awards for Customer Service and Acquisitions and Divestitures. Dayna is no stranger to teaching she has taught at the Metro Phoenix American Payroll Association meetings and at the Arizona State Payroll Conference.  Topics including Payroll Basics, Global/Cultural Awareness, Immigration Basics for the Payroll Professional, Multi-State and Local Taxation and Quality Control for Payroll, International and Canadian payroll.   Dayna has her CPP (Certified Payroll Professional) through the APA.  She also serves on the National American Payroll Association on the National Strategic Leadership Task Force, Government Affairs Task Force (PA Local tax subcommittee).  Dayna has received a Citation of Merit for her service along with being a Gold Pin member of the APA.  Besides her payroll accomplishments Dayna is certified in HR hiring and firing practices and is a Six-Sigma Greenbelt.

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