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Human Resource & Payroll

Form 941 Q4 2021 and Compliance in 2022

Overview

The 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 Form 941 has made is difficult to understand. The importance of reconciliation and completed of not only the Form 941 but Schedule B is becoming increasingly important for employers to avoid costly disputes with the IRS resulting in penalty 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 the Form 941. You have probably been filing IRS Form 941 (Employer’s Quarterly Federal Tax Return) for years, but 2022 brings new considerations. Before completing your Q4 form due on January 31, you must ensure you have accounted for all the COVID-19 credits correctly. As the last filing based on 2021 data, getting it right is critical!


Will you meet the Form 941 compliance deadline? Discover the 2022 requirements for your January 31 submission. Now is the perfect time to set up your data collection structure and update your process to accommodate 2022 requirements and ensure the rest of your quarterly filings go smoothly.

 

 


Areas Covered in this Training

-941 Basic Requirements
        -Reporting Requirements
        -941 Due Dates
        -Electronic Filing
        -Signing Requirements
-Line by line review
-2020 and 2021 Updates to the form 941 and review of common errors as reported by the IRS
-COVID-19 Tax credits and Form 941
-Schedule B requirements and tips
-Reconciliation of Form 941 and W-2’s at year-end
-Employer Retention Tax credit and the new form 7200
-Details around which 7200 form should be processed
-Social Security employer tax deferral

 

 


Why Attend This Training

The COVID-19 pandemic has significantly affected our lives. It has always brought a lot of special legislation that impacts employers and how to complete the quarter 941 form. A lot of the COVID-19 tax credits have been extended into 2021. This webinar will give you the tools to understand how to properly handle the credits for each quarter specific to the legislation in 2021.


This webinar will give you the tools to better be able to understand line by line of the Form 941. Details around 2020 and 2021 updates to the form 941 and review of common errors as reported by the IRS will be covered. Also would be covered many things like a review of Schedule B and the importance of completing correctly, review of who should sign the Form 941, Form 7200, and much more.

 

 


Duration: 60 minutes
Suggested Attendees

-Payroll Executives/Managers/Administrators/Professionals/Practitioners/Entry Level\ Personnel
-Human Resources Executives/Managers/Administrators
-Accounting Personnel
-Business Owners/Executive Officers/Operations and Departmental Managers
-Lawmakers
-Attorneys/Legal Professionals
-Any individual or entity that must deal with the complexities and requirements of Payroll compliance issues
 

 

You may ask your Question directly to our expert during the Q&A session.

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