Form 941 For 2021: Form Schedule B For Q2-Q4 2021 That You Need To Know About

  • 01:00 PM ET | 12:00 PM CT | 10:00 AM PT | Duration: 100 Minutes
  • Product Code: WEB0085

Webinar Instruction will be emailed on your registered email address 3 days prior to webinar | Web Download / e-Transcript will be shared in 7 working days from the date of webinar

Form 941 is the link between your payroll records and the IRS tax records. Proper administration of this vital form is critical if you want to avoid IRS Notices and the penalties and interest that accompany them.  The Schedule B is also a crucial form for many employers.  The IRS demands that the Form 941 and the Schedule B match to the penny…every single time…without fail!

It has always been a requirement that the Forms 941 be reconciled with the Forms W-2 prior to submitting each form. If the employer fails in this reconciliation, the IRS and Social Security Administration can both assess penalties! This reconciliation has become even more critical these past few years.

This webinar covers the IRS Form 941 and its accompanying Form Schedule B for 2nd Quarter of 2021.  It discusses what is new for the latest version form in 2021 including all changes recently made by the Consolidated Appropriations Act of 2021 as well as the requirements for completing each form line by line. It includes the filing requirements and tips on reconciling and balancing the two forms. The webinar also covers the forms used to amend or correct the returns.

Learning Objectives:
  • For the attendee to understand the requirements for completing the 2021 Form 941 correctly line by line. 
  • To ensure that the attendee has the basic knowledge to complete the Form Schedule B according to the IRS regulations and to ensure that it reconciles down to the penny with the Form 941 prior to submission. 
  • To ensure the attendee knows when a Form 941-X is required and provide the attendee with the basic knowledge of how to complete Form 941-X. 
  • To demonstrate to the attendee the reconciliations needed under IRS and Social Security Administration regulations.

Area Covered in this session:

  • Line by line review of the 2021 Form 941 2nd quarter
  • Tips for completing the Schedule B—liability dates vs. deposit dates
  • Tips to balance Form 941 and Schedule B to the penny—as required by the IRS
  • Form due dates
  • Who should sign the Form 941
  • Reporting third party sick pay, group term life insurance and tips correctly
  • How to reconcile the Forms 941 with the Forms W-2
  • What to do if you discover an error in deposits for the quarter when completing the Form 941
  • Using the 941X form to correct the Form 941

Who will Benefit:

  • 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
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