Updated Form 941-X: Correcting 941 Reporting Errors
The new Form 941, released in Q2 2021, was a huge headache for many employers.
If your organization is one of the many that made mistakes on the new Form 941, you’re likely missing out on COVID-related tax credits that can make a big impact on your organization’s bottom line.
Luckily, if this applies to you, it’s not too late to fix it.
The IRS is introducing a new Form 941-X, designed specifically to help your organization fix errors made on Form 941. It’ll also help organizations account for tax relief related to COVID-19.
Join this workshop to learn everything you will need to know to complete the new Form 941-X with confidence.
Here’s what we’ll cover:
- Line by line explanation of the new Form 941-X
- The legal deadlines for completing the 941-X
- How to properly claim underreported or overreported taxes
- Whether the 941-X must accompany a W-2C and when
- And more!
Understand the need for the new Form 941-X
- The most common mistakes organizations made when filling our Form 941
- Why the IRS issues the new form – and what it means for your organization
- Changes in tax credits related to COVID-19 – and how to know if you qualify
Navigate this updated form with confidence
- Keys to correcting mistakes made when filing Form 941
- How to adjust misreported COVID-19 credits with Form 941-X
- Understand why an employer would (or would not) qualify for COVID-19 credits
Get answers to all your most important questions about Form 941-X
- How do I fix the employer retention credit on the 941-X?
- How do I know if I qualify for the COVID-19 credits that necessitate the 941-X?
- How do I make sure to complete the 941-X properly for the sick and family leave credits?
- If I have other adjustments to make, can I do them all on the same 941-X?
About the Speaker
Dayna Reum is currently the Director of Payroll Operations at a major medical center in Chicago. Dayna has been heavily involved in the payroll field over 17 years. Starting as a payroll clerk at a small Tucson company, Dayna moved on to be a Payroll Team Leader at Honeywell Inc.
During Dayna’s time at Honeywell she obtained her FPC (Fundamental Payroll Certification) through the American Payroll Association. She also received several merit awards for Customer Service and Acquisitions and Divestitures.
Dayna is no stranger to teaching she has taught at the Metro Phoenix American Payroll Association meetings and at the Arizona State Payroll Conference. Topics including Payroll Basics, Global/Cultural Awareness, Immigration Basics for the Payroll Professional, Multi-State and Local Taxation and Quality Control for Payroll, International and Canadian payroll.
Dayna has her CPP (Certified Payroll Professional) through the APA. She also serves on the National American Payroll Association on the National Strategic Leadership Task Force, Government Affairs Task Force (PA Local tax subcommittee). Dayna has received a Citation of Merit for her service along with being a Gold Pin member of the APA.
Besides her payroll accomplishments, Dayna is certified in HR hiring and firing practices and is a Six-Sigma Greenbelt.
The IRS is giving companies a chance to fix mistakes they made on Form 941 and take advantage of COVID-19-related tax relief. Join this workshop to ensure your organization stays fully compliant – and that you get the tax relief you need.
If you'd like this program customized for your organization, call us at 1-800-964-6033. We're certain we can fulfill your training needs, while making it fit in your budget!
This program has been approved for 1 (HR (General)) recertification credit hour toward aPHRTM, aPHRiTM, PHR®, PHRca®, SPHR®, GPHR®, PHRiTM and SPHRiTM recertification through the HR Certification Institute. Learn more at hrci.org