Form 941 most recent updates 2021

Date: December 22, 2021
Time: 01:00 PM ET
Duration: 60 Minutes
Speaker: Dayna Reum
CEU Credits - 1.0 HRCI Credits

$0.00

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Description

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 941 form 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  extended tax credits along with how to claim them on the Form 941 that was released by the IRS for 2021.

 

Session highlights:

  1. 941 Basic Requirements
    1. Reporting Requirements
    2. 941 Due Dates
    3. Electronic Filing
    4. Signing Requirements
  2. Line by line review
  3. 2020/2021 Updates
  4. COVID-19 Tax credits and Form 941
  5. Schedule B requirements and tips
  6. Reconciliation of Form 941 and W-2’s at year end
  7. Questions

 

Benefits of attending session:

  • This webinar will give you the tools to better be able to understand line by line of the Form 941
  • Details around 2020/2021 updates to the form 941 and review of common errors as reported by the IRS
  • Review of Schedule B and the importance of completing correctly
  • Review of who should sign the Form 941
  • Employer Retention Tax credit and the new form 7200
  • Social Security employer tax deferral

 

Who should attend ?

  • Human Resources Professionals
  • Small Business Owners
  • Payroll Professionals
  • Attorneys
  • Accounting Professionals
  • Consultants

Speaker

Dayna Reum

Dayna Reum ,CPP, FPC is currently the Director of Payroll Operations at Ann & Robert H. Lurie Children’s Hospital of Chicago . She has been heavily involved in the payroll field over 18+ years. Starting as a payroll clerk at a small Tucson company, She 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.

Certification

This webinar has been approved for 1.0 HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®,SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®).

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