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IRS Form 941 and 941-X: Why is it Critical for Employers to Complete These Forms Correctly to Ensure They Maximize their Employee Retention Credits by the American Rescue Plan Act (ARPA)?


The American Rescue Plan Act issues some guidelines to offer tax credits for employers, who provide voluntary Emergency Paid Leave. The ARPA extends the availability of the tax credits to those employers who qualify and voluntarily provide employees with EPSL and/or EFML through September 30, 2021. It will enable employers to receive tax credits for these benefits.

With IRS Form 941 and 941-X having their deadlines right around the corner, it is high time to learn that they are the way to collect the tax credits. Many employers now look forward to accurately calculating these tax credits to ensure they receive the tax credit amount, but how should they do it?

Some employers are already familiar with the form 941 but not all are able to complete it with confidence on all steps. Considering the fact that there have been many reported errors, it is an additional concern to complete the 941-X corrections appropriately to ensure compliance and avoid fines, penalties, and criminal sanctions.

Join Compliancevent to learn how to correctly fill the IRS Form 941 as well as the requirements you need to meet to eliminate previous form errors through the Form 941-X. Our certified expert will provide a line-by-line description as recommended by the IRS.

What You Will Learn

Employers need to have proper knowledge before they are able to fill any IRS form. With Form 941 Quarter 2 being a hot topic these days, you need to ensure a correct approach to file it. However, for those having errors in the previous 941 filings, it is important to know how the Form 941-X can help you correct them.

The best compliance practice is for employers to learn how to mitigate the processes that impact their company. From payroll employees to payroll providers, it is critical that employers use all available resources to make sure they follow all the necessary protocols to complete these IRS forms.

This webinar will provide employers and payroll professionals an insight into how to complete the forms to ensure you maximize the tax credits offered by the ARPA and give the employees transparency and confidence.

Topics Discussed in the Webinar

-What are Forms 941 and 941-X and what is the difference between the two?
-The major changes from the Family First Coronavirus Response Act (FFCRA)
-What has the American Rescue Plan Act (ARPA) removed and added for employers during COVID-19?
-What other tax credits are available under the ARPA?
-Why is it important for employers to learn to complete the 941 forms and if necessary, the 941-X?
-What's the role of Form 941-X?
-How can employers effectively communicate the necessary changes to their employees?
-How are the Employee Retention tax credits a benefit for employers and employees?
-A step-by-step guideline and discussion to effectively complete Form 941 without mistakes
-The necessary steps to take when completing the Forms 941 and 941-X
-What errors in the previous forms can be corrected by form 941-X?
-The right way for employers to coordinate with their payroll provider to ensure compliance and accuracy


-This Program, ID No.  562008, has been approved for 1.50     HR (General)   recertification credit hours toward aPHR™, aPHRi™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™, and SPHRi™ recertification through HR Certification Institute® (HRCI®).

-This program is valid for 1.5 PDCs for the SHRM-CPSM or SHRM-SCPSM. For more information about certification or recertification, please portal.shrm.org. 

Who Will Benefit

-Payroll managers
-Payroll professionals
-HR executives
-HR professionals
-HR managers
-HR directors


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


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