Form 941X and How to Correct for COVID Credits 1 Credit
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The new Form 941 has undergone significant modifications over the past years to incorporate all the COVID-19 credits, posing a considerable challenge to employers. Despite these changes, IRS deadlines have remained the same. Some employers discovered their errors only after missing the deadline, leading them to ask, "How do I fix my mistakes?"
Additionally, due to the complexity introduced by the American Rescue Plan Act of 2021, more employers must complete Form 941-X for retroactive adjustments from 2020. The latest 2024 updates to Form 941-X have raised further questions among employers about processing these updates correctly.
Form 941-X (Adjusted Employer's Quarterly Federal Tax Return or Claim for Refund) is used to correct any errors made on Form 941. If you identify an error on a previously filed Form 941, you must fix it using Form 941-X.
The following information is required when filing Form 941-X:
• Underreported taxes: Reporting less income or revenue than was actually received.
• Overreported taxes: Reporting more income or revenue than was actually received.
A tax payment must accompany the form if you file Form 941-X for underreported taxes. For overreported taxes, you can claim a refund or an abatement on your next return.
This online webinar by Dayna Reum will cover the most recent updates for Form 941-X in 2024 and guide employers on correctly processing it. We will also address any lingering concerns from 2021 for those still needing to process the 941-X. Join us to stay informed on the latest updates and ensure compliance with the current IRS requirements.
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Looking to fulfill your Enrolled Agent (EA) Continuing Education (CE) requirements? MY-CPE online Enrolled Agent CE courses are the best for you. Earn EA CE credits while enhancing your domain knowledge and expertise in diverse tax regulations and practices. Our courses are designed to provide you with the latest updates and deep insights to keep you ahead in your field. With flexible scheduling and a user-friendly platform, MY-CPE offers you a greater convenient and interactive learning experience. Join MY-CPE today and take the next step in advancing your career as an Enrolled Agent.
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MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: 143597) 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.
Dayna currently is the director of payroll operations at a major medical center in Chicago and has been heavily involved in the payroll field for more than 20 years.
She started as a payroll clerk at a small Tucson company but moved on to be a payroll team leader at Honeywell Inc.
During her time at Honeywell Inc., she obtained her FPC (Fundamental Payroll Certification) through the American Payroll Association. Dayna has also received several merit awards for customer service and acquisitions, and divestiture.
She also serves on the National American Payroll Association on the national Strategic Leadership Task Force, Government Affairs Task Force (PA Local tax subcommittee), and received a citation of merit for her service along with being a gold pin member of the APA.
Dayna is also a CPP (Certified Payroll Professional) through the APA and certified in HR hiring and firing practices and is a Six-Sigma Greenbelt.
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A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.
To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.
Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.
To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
CE
Great training. Great breakdown on how to prepare a 941x
CS
Good power point slides
Earn continuing education credits with flexibility. Choose from live webinars, on-demand courses, e-books, or podcasts to fit your learning style and schedule.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days - fastest in the industry.
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