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The IRS Form 941 - Simplicities, Complexities, Specialties, and Instructions for this Quarterly form as well as Basics of the ERC

Instructor Mark  Schwartz
Webinar ID 38174
4 Days Left To REGISTER

Date Thursday, May 2, 2024
Time 10:00 AM PDT | 01:00 PM EDT
Duration 90 Minutes  

Webinar Price Details

Overview

The bigger the business you are, the more complex your compensation structure, and whether or not you use a third party, you should know about the details of this form. It’s difficulty makes it easy to make mistakes. Mistakes are easily caught by the IRS.

So ask yourself the following questions:

  • Does my payroll system adequately record all taxable compensation to all workers - especially esecutives, traveling worker’s expenses, fringe benefits, etc?
  • Are deposits accurate and on time?
  • Do you take advantage of credits available to you for the “Emergency of the Year” that applies to you
  • How frequently are 941x’s required for your business?
  • Would it be beneficial to use a 3rd party in order to avoid “red flags” that can mean audits or reviews?

Areas Covered in the Session

  • Origin and Purpose
    • Meant to be a reconciliation form for quarterly wages and deposits
    • Payments and taxes to be recorded
    • Special rules and exceptions
  • Deposits and Schedules
    • Frequency of Deposits
  • Soc Sec and Medicare tax requirements
    • Subject and exempt
  • FICA/FIT requirements
    • Subject and exempt
  • March 23 Revision changes
    • New requirements
    • Reminders
    • Special Circumstances
  • 941 Section by Section
  • ERC Summary
    • Who applies, which quarters still apply, and requirements
  • Common Errors

Who Will Benefit

  • Payroll and HR Processors and Managers
  • Accountants
  • Financial Reporters
  • Third Party Payroll Processors

Speaker Profile

Mark Schwartz is an employment tax specialist and has over 15 years of employment tax experience as an independent consultant and as a payroll tax auditor with the State of California. He has managed an audit caseload of 20 ongoing audits, from small home-based businesses to large multi-national corporations. He is expert at defining regulatory and statutory requirements from local, State and Federal government agencies; and helping the average businessperson understand what that means to their business. He has processed weekly and bi-weekly payroll checks plus tax forms for businesses with hourly as well as exempt workers, multistate operations and a wide variety of benefits.

Mr.Schwartz provides consulting services encompassing payroll processing and payroll tax issues. These include payroll tax minimization, payroll tax compliance reviews, independent contractor studies, use of electronic transfers, deductions, benefits, etc. Mark has represented both clients and the State in front of the State Appeals Board. He understands the complexities of local wage laws, unemployment and disability claims, and other wage and benefit issues affecting your employees.

Mark prides himself on his outstanding customer service skills. He listens attentively to his clientele, helping them bridge the gap between the small business world and Government bureaucracy. He eagerly assists with clients needs and feels that educating clients toward faster, accurate and more complete payroll processes provide the most value.

Mark is a participating member of the American Payroll Association. He earned his BA and MBA in Finance at Santa Clara University. He has held Certified Internal Auditor and Certified Investment and Derivatives Auditor Credentials. Mark is currently pursuing a Certified Payroll Fundamentals Credential with the American Payroll Association.