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IRS Form 940 and Unemployment

  • Accountant
  • AFSP
  • CRTP
  • CPA (US)
  • EA
  • HRCI
  • ORTP
  • SHRM
  • MRTP
  • CFIRS
  • CWS
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

For years the only changes payroll professionals had to worry about were normal rate changes for state unemployment each year.  But in recent years the IRS has made updates to the federal Form 940 and states are in a much different position financially regarding unemployment benefits.  Because several states are faced with depleted funds, changes are occurring in payroll unemployment taxes.  With COVID-19 legislation and all the extensions, FUTA and SUTA taxation has been an area that has become more complicated for both employees and employers.

This CE webinar for CPAs will review the necessary updates on where our unemployment system is and how this will affect the way payroll professionals will do their jobs now and in the future.

Key topics covered in this CE webinar for Tax professionals

  • Updates to the Federal Form 940 and common errors committed
  • How the updates impact the jobs of payroll professionals
  • Extension of FUTA and SUTA taxation for both employees and employers
  • How to reduce and maintain your SUI rates
  • What are the SIDES program and its impact 

Click here to access CPE/CE courses on  PDC/RCH courses.

Learning Objectives

  • To discuss who and which earnings are subject to unemployment taxes.
  • To summarize COVID-19 Legislative updates and how to manage them.
  • To review the FUTA tax rate and tax deposition.
  • To discuss Form 940 changes and common errors made.
  • To examine how FUTA & SUTA interact and their importance.
  • To discuss the status of the state unemployment system and how it will affect your job in the coming years.
  • To summarize details of the FUTA Credit Reductions.
  • To discuss what is the SIDES program and its impact.
  • To discuss how to reduce and maintain your SUI rates.

Recommended For

  • The IRS-Approved CE course is recommended for CPAs, EAs, AFSPs, and other tax professionals desiring to learn about IRS forms.
  • This CPE tax webinar will help tax professionals who want to recall more about FUTA, form 940 changes, and SUTA's impact on the payroll department.

Who Should Attend?

  • Accountant
  • California Registered Tax Professional
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • HR Professionals
  • Human Resources Manager
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 PDC Credit of Business Acumen for SHRM Professionals (Approval No. 22-FJDEU)
  • 1 RCH Credit of HR (General) for Human Resource Certification Institute (HRCI) (Approval No. 583554)
  • 1 CE Credit of Federal Tax Law Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-00479-21-O)
  • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1 CE Credit of Federal Tax Law Update for Annual Filing Season Program (AFSP)
  • 1 CE Credit of Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0478)
  • 1 CE Credit of Federal Tax Law Update for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-00479-21-O)
  • 1 CE Credit of Federal Tax Law Update for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-00479-21-O)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1 General Credit of Taxes for Accountant/Bookkeeper/Tax Professionals

Additional details

  • Course Level :
    Intermediate
  • Credits :
    1
  • Instructional Method :
    Group Internet Based
  • Pre-requisites :
    Basic Knowledge Of Payroll Taxes And Related Forms
  • 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

Specialist, 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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Ratings and Review

4.2

45 Ratings

Excellent

19

Very Good

18

Average

6

Poor

2

Terrible

0

SP

Sid Packer, CPA (US)

Aug 16th, 2022

I appreciated the brevity of it. Not much more could have been added.

SS

Stefanie Steinhofer, Accountant, EA

Dec 6th, 2021

Good information. Would have liked more state specific info

VW

Vernon Walker, CPA (US)

Jun 27th, 2022

The content was very good. However, the speaker talks with a vocal fry and it was driving me crazy to listen to hear. Funny thing is that she spoke that way about 80% of the time during the presentation. The other 20% was very clearly spoken. That is to say she really need to practice not speaking with a vocal fry. It sounds so unprofessional. Also practice not saying "you know" so much. It's okay to be silent when transitioning to another thought.

JT

Jenenne Tambke, CPA (US)

Aug 16th, 2022

The instructor simply read the slides to us. Added nothing to the class. Pretty disappointed in the presentation.

IRS Form 940 and Unemployment

PREMIUM

1 Credit

Subject Area

Taxes

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