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100-minute live streaming program
  • January 4
  • 1:00 - 2:40 pm EST

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IRS Form 941 Reporting Update

January 4

Gain a better understanding of what does and doesn’t belong on a 941, the information you need to complete it properly, and how to self-review before an official review happens.

The IRS form 941 is the quarterly reconciliation form that reconciles taxable wages with deposits made during the calendar quarter. Simple, right? Depending on the complexity of your compensation structure, benefits, departmental decentralization and other factors, the 941 just might be a quarterly ‘red flag’ for an IRS audit. Use this material as a basis to review your knowledge of what does and doesn’t belong on a 941, the information you need to complete it properly, and how to self-review before an official review happens.

Learning Objectives

  • You will be able to identify possible errors in your company that expose you to unnecessary liability.
  • You will be able to explain to your workforce the best practices for communicating to the payroll dept information needed.
  • You will be able to describe the form 941, in detail, for your business needs.
  • You will be able to discuss the efficiency of your payroll system vis-à-vis the information you need to complete form 941 on time.

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

941 Basics
  • Purpose of Form
  • Due Dates
  • What It Does and Does Not Do
  • New for 2019
941 Line by Line
  • An In-Depth Look at Parts I-IV
  • Where to Get Additional Information
Deposit Schedules
  • How to Determine If You Are on the Right Deposit Schedule
  • Consequences of Late Depositing
  • How Deposits Reconcile to 941
  • Handling Late Deposits
IRS Additional Instructions
Taxable Wages
Common Errors and Form 941X
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on January 22, 2018.

Call 1-866-352-9540 for further credit information.

  • Enrolled Agents 2.0
     
  • This program qualifies for 2.0 hours of Continuing Education Credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g).
     

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Live Webinar Registration

  • Enrolled Agents 2.0
     
  • This program qualifies for 2.0 hours of Continuing Education Credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g).
     
  • CPE 2.0 including Taxes 2
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.0 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 2.0 hours. Prerequisite: basic knowledge of taxation. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Taxation for 2.0 hours.
     

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Who should attend?

This live webinar is designed for accountants, CPAs, CFOs, controllers, tax managers, presidents, vice presidents, payroll professionals, enrolled agents and tax preparers.

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Mark Schwartz

Mark Schwartz

MS Payroll

  • Employment tax specialist and has more than 15 years of employment tax experience as an independent consultant and as a payroll tax auditor with the State of California
  • Has managed an audit caseload of 20 ongoing audits, from small home-based businesses to large multi-national corporations
  • An 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
  • 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
  • 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.
  • 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
  • Prides himself on his outstanding customer service skills, listens attentively to his clientele, helping them bridge the gap between the small business world and government bureaucracy and eagerly assists with client’s needs, and feels that educating clients toward faster, accurate and more complete payroll processes provides the most value
  • Participating member of the American Payroll Association; Certified Internal Auditor and Certified Investment and Derivatives Auditor Credentials
  • Currently pursuing a Certified Payroll Fundamentals Credential with the American Payroll Association
  • M.B.A. and B.A. degrees in finance, Santa Clara University
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 403872
Published 2018, 2019
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