This webinar will cover topics such as deadlines for filing Form 941, employees not covered under Form 941, best practices for avoiding overpayments, quarterly reporting requirements, compensation subject to Social Security Tax or Medicare Tax, entering taxable tips, and tips for seasonal employers.
Some of the key areas that will be addressed in this presentation include:
Why Should You Attend:
The greatest area of revenue collected by the IRS each year is from employment taxes. Form 941 and other related forms are crucial to the administration of the IRS's employment tax collection system. Employers bear much of the administrative burden of reporting this information. An employer's failure to understand and comply with its obligations can result in IRS assessments, audits and penalties. This webinar will help participants understand the employer's obligations under the employment tax collection system.Some of the key areas that will be addressed in this presentation include:
- Reporting wages, tips and other compensation
- Deadlines for filing Form 941
- Employees not covered under Form 941
- Other compensation subject to Social Security or Medicare Tax
- Entering taxable tips
- Total taxes after deposits
- How to avoid overpayments
- What to do if your business has closed
- How to file the required forms
Areas Covered in the Webinar:
- Employers required to complete Form 941
- Quarterly reporting requirements
- How to avoid overpayment
- Which employees may already be covered by law
- Notice and demand tax due on unreported tips
- Tips for seasonal employers
- How to assign a third-party designee
Who Will Benefit:
- Accountants and CPAs
- CFOs
- Controllers and tax managers
- Presidents and vice presidents
- Chief risk officers (CROs) and chief compliance officers (CCOs)
- Payroll professionals, bookkeepers and enrolled agents
Course Provider
Betty J Jackson,
