Recent months have brought significant changes to employers’ withholding and payroll reporting requirements. The IRS fundamentally revamped Form W-4 for employee reporting, doing away with the concept of allowances and requiring changes to payroll administration and employee communications.
More recently, the Families First Coronavirus Response Act created new reporting requirements for tracking and documenting COVID-19 paid leave under FFCRA. This involves changes to Forms 941 and W-2, and a brand new Form 7200.
At the conclusion of this program, participants will be able to:
- Explain the new Form W-4 to employees and ensure that payroll systems have been updated accordingly
- Correctly report qualified sick leave and other credits on Form 941, and complete Form 7200 if needed
- Meet new IRS requirements to report qualified leave on Form W-2
- Know how to claim COVID-19 tax credits and tax deferrals on Form 941
- How to report Form 7200 Advance payments
- Know how to prepare an error-free Form 941
- Know when to use Form 941 or the related Forms 944, 943, and 945
- Know the filing due dates
Area's covered:
- When to use Form 941 – Related Forms 944, 943, and 945
- How to report the COVID-19 tax credits and tax adjustments for deferrals and Form 7200 advance payments on Form 941.
- Form 941 fundamentals - A walk through Form 941
- Who should sign the Form 941 and what the signature represents
- Reporting third-party sick pay, group term life insurance, and tips correctly
- How to reconcile the Forms 941 with the Forms W2
- Tax deposit and reporting requirements – How to determine your deposit schedule
Who Should Attend?
- Payroll Supervisors and Personnel
- Accounts Payable Supervisors and Personnel
- Public Accountants
- Internal Auditors
- Tax Compliance Officers
- Enrolled Agents
- Officers and Managers with Tax Compliance Oversight
- Company / Business Owners
- Managers/ Supervisors
- Public Agency Managers
- Audit and Compliance Personnel / Risk Managers
We are approved to provide CPE/CE credits to Tax Professionals
We reports the educational credits to the respective licensing/regulatory bodies in 5 business days.
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Our seamlessly integrated with ZOOM, WebX and, Goto for delivering continuing education webinars. The system requirements are :
- An internet connection – broadband wired or wireless
- Speakers and a microphone – built-in, USB plug-in, or wireless Bluetooth
Our package courses are the bundles of various continuing education courses which have been specially designed to meet your continuing education requirements for a particular Qualification.
- The web download is the recording of the webinar. You will receive a link to download and save the webinar on your computer and watch it anytime and multiple times.
- The transcript is the detailed written material presented during the webinar.
On demand session is when we conduct the webinar as per your available dates after the live training. You will get access to the training for 24 hours.
To access a course that you have already purchased, all you must have to create/log in to your account. Click on the "Log In" button in the top right of the screen. Once you are logged in, you will have immediate access to all your purchased CPE courses, packages and other self-service or you can write on support@pro2learn.com.
We will email your certificate within 3 working days of the end of the webinar, or you can login your account at www.pro2learn.com. If you don’t receive the email within 3 working days of the end of the webinar, check your spam/junk folder. If it’s not there, we recommend that you send us an email at support@pro2learn.com or connect over the online chatroom.