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Learn the Line-By-Line Preparation of Form 941 and Avoid IRS Penalties
The IRS requires employers to use Form 941, “Employer’s Quarterly Federal Tax Return,” to report withholdings from employees’ paychecks, and to pay Social Security and Medicare taxes. For employers that withhold federal and FICA (social security and Medicare) taxation and pay employees, the Form 941 is a crucial document. There have been several changes to this form making it difficult for employers to understand and prepare. For example, in March 2017, the IRS issued a revenue procedure that clarifies the agency’s requirements relating to employee consent when employers claim a credit or refund on overpaid FICA taxes.
Reconciliation and completion of Form 941 and Schedule B is important for employers because violations may result in costly disputes with the IRS and result in high penalties and interests. In this session, expert speaker Dayna Reum will help you in the line-by-line preparation of Form 941 and discuss areas to look for to avoid penalties and disputes with the IRS.
Understand line-by-line preparation of the Form 941
2017 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
941 Basic Requirements
941 Due Dates
Line by line review
Schedule B requirements and tips
Reconciliation of Form 941 and W-2’s at year end
941-x forms and how to deal with them
IRS Notices, disputes and how to deal with them
NASBA & IRS Category of Study: Taxes
Who Should Attend?
*Single User Price. For multiple users please call 1-800-223-8720
Dayna is currently the Payroll Tax Manager at PetSmart Inc. Dayna has been heavily involved in the payroll field over 15 years. Starting as a payroll clerk at a small Tucson company, Dayna moved on to be a Payroll Team Leader at Honeywell Inc. During Dayna’s time at Honeywell she obtained her ...
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