IRS Form 941: Navigating Complexities and Unlocking ERC Opportunities
Don’t Let Form 941 Errors Cost You Big — Learn Compliance Now!
Instructor :
Mark Schwartz
Webinar ID:
17641
Date: JAN 21, 2025 (TUE)
Start Time: 10 AM PT - 11:30 AM PT
Duration: 90 Mins.
What will you learn
-
- Origin And Purpose Of Form 941 For Reconciliation Of Wages
- Recording Payments And Taxes, With Special Rules And Exceptions
- Understanding Frequency Of Deposits Based On Business Size
- Social Security And Medicare Tax: Subject And Exempt Wages
- FICA And Federal Income Tax: Subject And Exempt Wages
- March 2023 Revisions: New Requirements, Reminders, Special Circumstances
- Section-By-Section Breakdown Of ….
-
- Origin And Purpose Of Form 941 For Reconciliation Of Wages
- Recording Payments And Taxes, With Special Rules And Exceptions
- Understanding Frequency Of Deposits Based On Business Size
- Social Security And Medicare Tax: Subject And Exempt Wages
- FICA And Federal Income Tax: Subject And Exempt Wages
- March 2023 Revisions: New Requirements, Reminders, Special Circumstances
- Section-By-Section Breakdown Of IRS Form 941
- Employee Retention Credit (ERC) Summary: Eligibility, Quarters, Requirements
- Common Errors To Avoid When Completing IRS Form 941
Course Description
Understanding IRS Form 941 is essential for businesses of all sizes, especially those with more complex compensation structures.
Whether you handle payroll in-house or through a third party, mistakes on this quarterly form can lead to costly audits or penalties from the IRS.
In this 90-minute webinar, we will break down the complexities of Form 941 and help you stay compliant with the latest IRS regulations. You will also learn the basics of the Employee Retention Credit (ERC) and how to take advantage of this opportunity.
Key Takeaways:
-
- Accurate payroll recording: Does your system capture all taxable compensation for employees, including executive salaries, travel expenses, and fringe benefits?
- Timely and correct deposits: Ensure your tax deposits are both accurate and submitted on time.
- Maximizing available credits: Learn how to take advantage of ERC credits and other incentives related to special situations like the COVID-19 pandemic.
- Frequency of corrections: How often are 941x adjustments needed for your business, and what are the red flags to watch out for?
- Third-party services: Discover if using a third-party service can help you avoid IRS scrutiny and reduce your risk of an audit.
Join us to simplify Form 941 compliance and ensure your business is taking advantage of all available credits and deductions.
Enroll Now!
Understanding IRS Form 941 is essential for businesses of all sizes, especially those with more complex compensation structures.
Whether you handle payroll in-house or through a third party, mistakes on this quarterly form can lead to costly audits or penalties from the IRS.
In this 90-minute webinar, we will break down the complexities of Form 941 and help you stay compliant with the latest IRS regulations. You will also learn the basics of the Employee Retention Credit (ERC) and how to take advantage of this opportunity.
Key Takeaways:
-
- Accurate payroll recording: Does your system capture all taxable compensation for employees, including executive salaries, travel expenses, and fringe benefits?
- Timely and correct deposits: Ensure your tax deposits are both accurate and submitted on time.
- Maximizing available credits: Learn how to take advantage of ERC credits and other incentives related to special situations like the COVID-19 pandemic.
- Frequency of corrections: How often are 941x adjustments needed for your business, and what are the red flags to watch out for?
- Third-party services: Discover if using a third-party service can help you avoid IRS scrutiny and reduce your risk of an audit.
Join us to simplify Form 941 compliance and ensure your business is taking advantage of all available credits and deductions.
Enroll Now!
Why you should attend
The stakes are high when it comes to IRS Form 941. As businesses grow and compensation structures become more complex, the risk of errors increases—and so do the potential penalties from the IRS.
Whether you handle payroll yourself or rely on a third party, mistakes on Form 941 can trigger audits, penalties, and added costs.
This webinar equips you with the essential knowledge to avoid these risks and protect your business.
The recent regulatory changes and available credits, such as the Employee Retention Credit (ERC), add another layer of complexity.
Knowing how to correctly apply these credits can result in significant savings for your business. Failing to do so can mean leaving money on the table or, worse, incurring penalties for improper filings.
In this 90-minute session, you’ll gain practical insights into mastering the complexities of Form 941, learning how to avoid common mistakes and ensuring accurate reporting. The course will empower you to:
-
- Streamline your payroll process to ensure all taxable compensation, including executive pay, fringe benefits, and travel expenses, is properly recorded.
- Understand the timing and accuracy of tax deposits to avoid late fees or discrepancies.
- Maximize available credits, especially in situations like the COVID-19 pandemic, where the ERC could save your business thousands.
- Learn the triggers for 941x adjustments and how to mitigate red flags that can lead to audits.
- Determine if a third-party payroll service could be a smart move to lower risks.
By attending this webinar, you’ll gain the confidence and tools to protect your business and ensure full compliance with the latest IRS regulations.
Join Now!
The stakes are high when it comes to IRS Form 941. As businesses grow and compensation structures become more complex, the risk of errors increases—and so do the potential penalties from the IRS.
Whether you handle payroll yourself or rely on a third party, mistakes on Form 941 can trigger audits, penalties, and added costs.
This webinar equips you with the essential knowledge to avoid these risks and protect your business.
The recent regulatory changes and available credits, such as the Employee Retention Credit (ERC), add another layer of complexity.
Knowing how to correctly apply these credits can result in significant savings for your business. Failing to do so can mean leaving money on the table or, worse, incurring penalties for improper filings.
In this 90-minute session, you’ll gain practical insights into mastering the complexities of Form 941, learning how to avoid common mistakes and ensuring accurate reporting. The course will empower you to:
-
- Streamline your payroll process to ensure all taxable compensation, including executive pay, fringe benefits, and travel expenses, is properly recorded.
- Understand the timing and accuracy of tax deposits to avoid late fees or discrepancies.
- Maximize available credits, especially in situations like the COVID-19 pandemic, where the ERC could save your business thousands.
- Learn the triggers for 941x adjustments and how to mitigate red flags that can lead to audits.
- Determine if a third-party payroll service could be a smart move to lower risks.
By attending this webinar, you’ll gain the confidence and tools to protect your business and ensure full compliance with the latest IRS regulations.
Join Now!
Areas Covered
- Origin and Purpose of IRS Form 941
- Designed as a Reconciliation Form for Quarterly Wages and Tax Deposits
- Payments and Taxes to Be Recorded
- Special Rules and Exceptions
- Deposits and Schedules
- Frequency of Deposits Based on Business Size and Tax Liability
- Social Security and Medicare Tax Requirements
- Subject and Exempt Wages
- FICA and Federal Income Tax (FIT) Requirements
- Subject and Exempt Wages
- March 2023 Revision Changes
- New Requirements and Updates
- Important Reminders
- Special Circumstances to Be Aware Of
- Section-by-Section Breakdown of Form 941
- Employee Retention Credit (ERC) Summary
- Who Applies, Which Quarters Still Apply, and Key ERC Requirements
- Common Errors to Avoid on Form 941
BONUS:
-
- PDF copy of the presentation handout for your future reference.
- Soft copy of the certificate of completion on request.
- Q&A Session with the Presenter: Get your pressing questions answered verbally, via chat or email.
- Origin and Purpose of IRS Form 941
- Designed as a Reconciliation Form for Quarterly Wages and Tax Deposits
- Payments and Taxes to Be Recorded
- Special Rules and Exceptions
- Deposits and Schedules
- Frequency of Deposits Based on Business Size and Tax Liability
- Social Security and Medicare Tax Requirements
- Subject and Exempt Wages
- FICA and Federal Income Tax (FIT) Requirements
- Subject and Exempt Wages
- March 2023 Revision Changes
- New Requirements and Updates
- Important Reminders
- Special Circumstances to Be Aware Of
- Section-by-Section Breakdown of Form 941
- Employee Retention Credit (ERC) Summary
- Who Applies, Which Quarters Still Apply, and Key ERC Requirements
- Common Errors to Avoid on Form 941
BONUS:
-
- PDF copy of the presentation handout for your future reference.
- Soft copy of the certificate of completion on request.
- Q&A Session with the Presenter: Get your pressing questions answered verbally, via chat or email.
Who is this course for
Maximize the Learning Experience in A Group Setting!
-
- Payroll Manager
- HR Manager
- Finance Manager
- Tax Compliance Specialist
- Accountant
- CFO (Chief Financial Officer)
- Controller
- Business Owner
- Benefits Administrator
Maximize the Learning Experience in A Group Setting!
-
- Payroll Manager
- HR Manager
- Finance Manager
- Tax Compliance Specialist
- Accountant
- CFO (Chief Financial Officer)
- Controller
- Business Owner
- Benefits Administrator
Instructor Profile
Mark Schwartz is an employment tax specialist and has over 15 years of employment tax experience as an independent consultant and as a payroll tax auditor with the State of California. He has managed an audit caseload of 20 ongoing audits, from small home-based businesses to large multi-national corporations. He is 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. He 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.
Mr.Schwartz 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. Mark 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.
Mark prides himself on his outstanding customer service skills. He listens attentively to his clientele, helping them bridge the gap between the small business world and Government bureaucracy. He eagerly assists with clients needs and feels that educating clients toward faster, accurate and more complete payroll processes provide the most value.
Mark is a participating member of the American Payroll Association. He earned his BA and MBA in Finance at Santa Clara University. He has held Certified Internal Auditor and Certified Investment and Derivatives Auditor Credentials. Mark is currently pursuing a Certified Payroll Fundamentals Credential with the American Payroll Association.
