Have you made an error on your Form 941 tax return? Don’t worry! You can always use Form 941-X to make corrections to your Form 941.
If your organization is one of the many that made mistakes on the new Form 941, you’re likely missing out on COVID-related tax credits that can make a big impact on your organization’s bottom line.
Luckily, if this applies to you, it’s not too late to fix it.
The IRS is introducing a new Form 941-X, designed specifically to help your organization fix errors made on Form 941. It’ll also help organizations account for tax relief related to COVID-19.
The draft of the revised Form 941-X, Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund, was released July 27 by the Internal Revenue Service. The proposed changes were expected because the agency recently revised the 2020 Form 941, Employer’s Quarterly Federal Tax Return, and the accompanying instructions to accommodate reporting data on employment tax relief related to Covid-19.
The new Form 941 released for Q2 2020 to include all the COVID-19 credits was a huge challenge to employers, but deadlines with the IRS remained the same. Some employers found out after they filed to make the deadline that they did it wrong. Now employers are asking how do I fix my mistakes. This webinar will review the new Form 941X and how it should be properly completed.
Join this webinar to learn everything you will need to know to complete the new Form 941-X with confidence.
Learning Objective:
The form 941X basics
The deadlines for filling out Form 941X
What mistakes in Form 941 you can correct through the 941X and how?
The taxable wages and tips
The COVID-19 updates and how to fix for the credits and when to know what time frame to fix for
What is Form 941-X?
When is Form 941-X Required?
Errors that can be Corrected By Filing Form 941-X
Deadline to File Form 941-X
Are there any penalties for underreporting taxes?
Where to mail Form 941-X?
Areas will be covered during the session:
Learn about the legal deadlines for completing the Form 941X
Line by line thorough review of the new Form 941X
Does the 941X always accompany a W-2C and how would you know the difference?
How to properly claim underreported or over-reported taxes?
An in-depth review of the COVID-19 Credits and how to fix them with the 941X
Detailed discussion about the American Rescue Plan Act (ARPA) and how it is causing multiple 941X for employers
Retro 941X and what needs to be completed because of the ARP Act
Who should attend?
CPA
Tax Professionals/managers
Payroll professionals
Payroll managers
Accounting Professionals
HR professionals
HR executives
HR directors
HR managers
TexasHave you made an error on your Form 941 tax return? Don’t worry! You can always use Form 941-X to make corrections to your Form 941.
If your organization is one of the many that made mistakes on the new Form 941, you’re likely missing out on COVID-related tax credits that can make a big impact on your organization’s bottom line.
Luckily, if this applies to you, it’s not too late to fix it.
The IRS is introducing a new Form 941-X, designed specifically to help your organization fix errors made on Form 941. It’ll also help organizations account for tax relief related to COVID-19.
The draft of the revised Form 941-X, Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund, was released July 27 by the Internal Revenue Service. The proposed changes were expected because the agency recently revised the 2020 Form 941, Employer’s Quarterly Federal Tax Return, and the accompanying instructions to accommodate reporting data on employment tax relief related to Covid-19.
The new Form 941 released for Q2 2020 to include all the COVID-19 credits was a huge challenge to employers, but deadlines with the IRS remained the same. Some employers found out after they filed to make the deadline that they did it wrong. Now employers are asking how do I fix my mistakes. This webinar will review the new Form 941X and how it should be properly completed.
Join this webinar to learn everything you will need to know to complete the new Form 941-X with confidence.
Learning Objective:
The form 941X basics
The deadlines for filling out Form 941X
What mistakes in Form 941 you can correct through the 941X and how?
The taxable wages and tips
The COVID-19 updates and how to fix for the credits and when to know what time frame to fix for
What is Form 941-X?
When is Form 941-X Required?
Errors that can be Corrected By Filing Form 941-X
Deadline to File Form 941-X
Are there any penalties for underreporting taxes?
Where to mail Form 941-X?
Areas will be covered during the session:
Learn about the legal deadlines for completing the Form 941X
Line by line thorough review of the new Form 941X
Does the 941X always accompany a W-2C and how would you know the difference?
How to properly claim underreported or over-reported taxes?
An in-depth review of the COVID-19 Credits and how to fix them with the 941X
Detailed discussion about the American Rescue Plan Act (ARPA) and how it is causing multiple 941X for employers
Retro 941X and what needs to be completed because of the ARP Act
Who should attend?
CPA
Tax Professionals/managers
Payroll professionals
Payroll managers
Accounting Professionals
HR professionals
HR executives
HR directors
HR managers
Dayna J Reum is presently the Director of Payroll Operations at Ann & Robert H. Lurie Children's Hospital of Chicago. Dayna has been heavily concerned within the payroll field for over seventeen years. beginning as a payroll clerk at a little urban center company, Dayna emotional on to be a Payroll Team Leader at Honeywell INC. During her tenure at Honeywell she obtained her FPC (Fundamental Payroll Certification) through the yank Payroll Association. She additionally received many advantage awards for client Service and Acquisitions and Divestitures. Dayna isn't any intruder to teaching she has tutored at the railway system Phoenix yank Payroll Association conferences and at the Arizona State Payroll Conference. Topics as well as Payroll Basics, Global/Cultural Awareness, Immigration Basics for the Payroll skilled, Multi-State and native Taxation and internal control for Payroll, International and Canadian payroll. Dayna has her CPP (Certified Payroll Professional) through the APA. She additionally serves on the National yank Payroll Association on the National Strategic Leadership Task Force, Government Affairs Task Force (PA native tax subcommittee). Dayna has received a Citation of advantage for her service at the side of being a Gold Pin member of the APA. Besides her payroll accomplishments, Dayna is certified in hour hiring and firing practices and may be a Six-Sigma greenway.'
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