Description
This program has been approved for 1.0 PDCs toward SHRM
certification hours. The program is pre-approved for 1 credit hour under HRCI
The new Form 941 has been altered a lot over the last year
to include all the COVID-19 credits. Which has resulted in becoming a challenge
for the employers but the deadlines with the IRS remained the same. Even few employers found out that after they did
failed to make it to the deadline and even if few of them did they did it wrong.
Now employers are asking how I fix my mistakes.
Form 941-X (Adjusted Employer’s Quarterly Federal Tax Return
or Claim for Refund Form) is used to correct any errors made on Form 941. If
you find an error on a previously filed Form 941, you must correct this error
using Form 941-X.
The following information is required when submitting Form
941-X:
Underreported taxes - reporting less earnings or revenue
than it was actually collected.
Overreported taxes - reporting more earnings or revenue than
was actually collected.
If you are submitting Form 941-X for underreported taxes,
you ought to make a tax fee while you document the Form. When reporting
overreported taxes, you can claim either a refund or abatement on your
subsequent return.
Learning Objectives:
To discuss line by line detail of the new Form 941-X.
To examine the legal deadlines for completing the 941-X.
To evaluate the COVID-19 credits and how to fix them with
the 941-X.
To examine how to know properly claim underreported taxes or
over-reported taxes.
To inspect if the 941X always accompanies a W-2C and how to
know the difference.
To discuss retro 941X and what needs to be completed because
of the ARP Act.
To inspect deadlines for Filing Form 941.
To explain Form 941X line by line review.
To explore COVID-19 updates and how to fix the update
credits.
Get answers to all your most important questions about Form
941-X
How do I fix the employer retention credit on the 941-X?
How to understand and analyse if I qualify for the COVID-19
credits that necessitate the 941-X?
How do I make sure to complete the 941-X properly for the
sick and family leave credits?
If I have other adjustments to make, can I do them all on
the same 941-X
Who Will Benefit:
Payroll professionals
Payroll managers
HR professionals
HR executives
HR directors
HR managers
CPA
Accounting Professionals
Employee Retention Credit Preparing Forms 941 and 941-X
- Brand: Dayna-J-Reum
- Product Code: AT587