Form 941 Compliance

Course Description
Course Qualification
Presenter
FAQ

Course Description

Form 941 is an essential form for all employers that pay employees and withhold federal and FICA (social security and Medicare) taxation. In recent years several changes to the 941 form have made it difficult to understand.

The importance of reconciliation and completion of not only Form 941 but Schedule B is becoming increasingly important for employers to avoid costly disputes with the IRS resulting in penalties and interest. With the several COVID-19 legislation being passed that include tax credits for employers form 941 will be a key form to claim these credits.

In this CPE webinar, speaker, Dayna Reum will review the tax credits along with how to claim them on Form 941 once released. Even into 2022, we are seeing some credits being claimed on Form 941.

The COVID-19 pandemic has significantly affected our lives. It has always brought a lot of special legislation that impacts employers and how to complete the quarter 941 form. A lot of the COVID-19 tax credits have been extended into 2021. A review of the updated form and COBRA credit instructions from the IRS will be included.

This CE/CPE tax webinar will give you the tools to understand how to properly handle the credits specific to the legislation in 2021 that affects the filing into 2022. It will also give you the tools to better be able to understand line by line Form 941.

Learning Objectives

To discuss the details around 2022 updates to form 941.
To review common errors as reported by the IRS.
To review Schedule B and the importance of completing it correctly.
To analyze who should sign Form 941.
To discuss Employer Retention Tax credit and the new form 7200.
To explain details around which 7200 forms should be processed.
To discuss Social Security employer tax deferral.

Recommended For

This Online Education Course is recommended for CPA, EA, AFSP, CRTP, MRTP, ORTP, SHRM, HRCI, CMA, and other tax professionals who want to understand everything about Form 941.

Who Should Attend?

Bookkeepers & Accountants & Tax Preparers
California Registered Tax Professional
Certified Public Accountant (CPA)
CPA - Mid Size Firm
CPA - Small Firm
Enrolled Agent
Maryland Tax Preparers
Oregon Tax Preparers
Tax Attorney
Tax Preparer
Tax Professionals
Young CPA

Course Qualification

Webinar Qualifies For

1 CE Credit for Annual Filing Season Program (AFSP)
1 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0889)
1 CPE Credit for Certified Management Accountants (CMA)
1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
1 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-00989-22-O)
1 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00989-22-O)
1 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00989-22-O)
1 PDC Credit for SHRM Professionals (Approval No. 22-2RJH6)
1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
1 CE Credit for Certified Wealth Strategist (CWS)
1 General Credit for Accountant/Bookkeeper (ACCT./BK)
1 RCH Credit for Human Resource Certification Institute (HRCI) (Approval No. 594430)

Additional details

Course Level :

Basic
Credits :

1
Instructional Method :

Group Internet Based
Pre-requisites :

None
Advance Preparation :

None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

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 through its website: www.NASBARegistry.org.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

Presenter

About Presenter

Dayna Reum

Director of Payroll Operations, Ann & Robert H. Lurie Children's Hospital of Chicago

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.

About Company

Ann & Robert H. Lurie Children's Hospital of Chicago

www.luriechildrens.org/

Ann & Robert H. Lurie Children's Hospital of Chicago is the largest pediatric healthcare provider in the region with a 130 year legacy of excellence. We are proud to serve as the pediatric teaching and research partner of Northwestern University Feinberg School of Medicine, and are ranked nationally in all 10 pediatric specialties by U.S. News & World Report.

Faq

FAQs content

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Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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