Update in Payroll Tax Forms (2021) 8 Credits
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On account of the COVID-19 situation and law changes on its account, and changes in the administrative policies, there have been updates in the payroll tax form. This package covers key updates in form 941, Fair Labor Standards Act changes in the payroll laws, independent contractors and tax collection updates to form 1099, and IRS changes to form W-4 and W-2.Â
The IRS recently released a new version of Form 941 for the second quarter of 2020. This revised form will account for COVID-19 related tax credits, including the employee retention credit (ERC) and tax credits under the Families First Coronavirus Response Act.
It covers:
The IRS has changed the rules in regulatory reporting once again. At all such instance, it is required to:Â
Though the IRS has struggled with independent contractors and tax collection. And the situation has not changed very much. In assessing opportunities to close the tax gap – that is taxes due but not reported or paid - one of the greatest opportunities comes from expanding the information reporting on taxpayers by payers –1099. Form 1099 has become a time-consuming reporting obligation and however, it can be streamlined in a number of ways.
The IRS-Approved online CPE/CE course on Taxes covers the following key topics:
The Fair Labor Standards Act is the granddaddy of all payroll laws. You are surprised at all the interesting things to do and how important this role is to the success of the company.Â
This webinar covers the requirements of the modern-day tax professionals in a payroll compliance function with key updates presented by Miles Hutchinson and Jason Dinesen.
Click to access more webinars on SHRM & HRCI Courses | Leadership and Management Package for SHRM | Business Credit Package for HRCI Professionals
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 8 CPE | Approved |
| Federal Tax Law Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-00600-21-S) | 8 CE | Approved |
| Federal Tax Law Update for Annual Filing Season Program (AFSP) | 8 CE | Approved |
| Business Acumen for SHRM Professionals (Approval No. 22-AQD3A) | 8 PDC | Approved |
| Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-00574) | 8 CE | Approved |
| HR (General) for Human Resource Certification Institute (HRCI) (Approval No. 583820) | 8 RCH | Approved |
| Federal Tax Law Update for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-00600-21-S) | 8 CE | Approved |
| Federal Tax Law Update for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-00600-21-S) | 8 CE | Approved |
Credits
8
Course Level
Basic
Instructional Method
QAS Self Study
Group Internet Based
Pre-requisites
None
Advance Preparation
None
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 aintenance 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.
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.
Miles Hutchinson is a CGMA and experienced businessman. He has been an auditor with PriceWaterhouseCoopers and the Chief Financial Officer of a $1 billion real estate development company. Miles is a professional speaker and consultant who has presented over 2,700 seminars and training sessions on a myriad of business and financial topics, like financial analysis and modeling, accounting, strategic planning, and compliance with the Sarbanes-Oxley Act. He is recognized as an expert in payroll and sales & use tax as well as financial modeling & analysis, business strategy and communications. He is the author of several useful accounting and tax tools available at www.soxpolicies.com and www.salestaxadvisors.com. His clients include, Abbott Labs, Bank of America, Boston Scientific, Citicorp, Corning, the FBI, the FDA, the Federal Reserve, GE, Pfizer, Siemens, US Marine Corps, and the US Army. Please visit his web sites to see how you can further benefit from his expertise.
Jason Dinesen (LPA, EA) is an entrepreneur, tax expert, and CPE Presenter. Dinesen brings over 15 years of experience helping individuals and businesses with accounting, bookkeeping, tax preparation, and business advisory in various industries. Dinesen is a regular CPE Presenter at MYCPE ONE. He has coached more than 200k+ accounting, taxes, and HR professionals on various topics of accounting, individual taxation, corporate taxation, and professional ethics. Jason has developed a strong following within the professional community for tax-related subjects. Dinesen is known for sharp tax interpretations, and he quickly brings his analysis of the latest tax updates and IRS guidance to the professional community.
What is Self Study (QAS)?
Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.
How do I earn CPE credits through self-study?
To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.
Are the self-study courses approved by NASBA and other regulatory bodies?
Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.
What are the requirements to maintain compliance with self-study courses?
To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.
How can I access my course completion certificates?
After successfully completing a self-study course and passing the assessments, you can access and download your course 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.
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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.
MDW
Quite a lot of valuable info and updates.
CM
It was a little difficult registering that the video was completed, it started over on me two or three times. The review questions would not go to the next question without pushing the button 10 or more times. But that was on my phone. It worked better on my computer.
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