Draft Instructions Issued for Revised Form 941 Schedule R
Draft instructions for a revised supplemental form that is to be used by aggregate filers of 2020 quarterly federal tax return data were released May 20 by the Internal Revenue Service.
The draft instructions are for Schedule R, Allocation Schedule for Aggregate Form 941 Filers, which was released May 5 as a draft.
Schedule R is to be adjusted to accommodate data reporting for payroll-related relief measures established by the Families First Coronavirus Response Act (FFCRA), enacted March 18, and the Coronavirus Aid, Relief, and Economic Security (CARES) Act, enacted March 27.
What’s New for Q2-Q4 2020
Families First Act: Credits for Paid Sick Leave and Paid Family Leave
CARES Act: including deferring Employer’s Social Security
IRS Form 7200: Purpose for the form and how it applies to you
Line by line review of the massive changes of the New Revised Form 941 And more!
Why You Should Attend:
Businesses typically need to file Form 941 if they have employees and withhold income tax, social security, and Medicare tax from their wages.
Specifically, they need to file form 941 to report the following payroll-related amounts. If any of these factors apply to your business, you need to file Form 941.
Tips reported to you by employees
Federal income tax withheld
Employer and employee share of social security and Medicare taxes
Any Additional Medicare Tax withheld from employees
Current quarter adjustments to Medicare taxes and social security for sick pay, tips, group-term life insurance, and fractions of cents
Small business payroll tax credit
Who Should Attend:
Human Resources Executives/Managers/Administrators
Business Owners/Executive Officers/Operations and Departmental Managers
Any individual or entity that must file the New Form 941 for the remainder of 2020
Advanced Preparation: None
Program Level: Intermediate
Prerequisites: Basic Knowledge of Taxes
Field of Study: Taxes 2.0
*You may ask your Question directly to our expert during the Q&A session.**
You can buy On-Demand and view it at your convenience.
Vicki M. Lambert, CPP,
is President and Academic Director of The Payroll Advisor™, a firm
specializing in payroll education and training. The company offers a
payroll news service which keeps payroll professionals up-to-date on the
latest rules and regulations. With
over 35 years of hands-on experience in all facets of payroll functions
as well as over 20 years as a trainer and author, Ms. Lambert has
become the most sought-after and respected voice in the practice and
management of payroll issues. She has conducted open market training
seminars on payroll issues across the United States that have been
attended by executives and professionals from some of the most
prestigious firms in business today.
pioneer in electronic and online education, Ms. Lambert produces and
presents payroll related audio seminars, webinars and webcasts for
clients, APA chapters and business groups throughout the country. Ms.
Lambert is an adjunct faculty member at Brandman University in Southern
California and is the creator of and instructor for their Practical
Payroll Online program, which is approved for recertification hours by
the APA. She is also the Program Developer, Subject Matter Expert (SME),
and Facilitator for the Certificate in Payroll Practice and Management
Program offered by Cengage Learning / Ed2Go through hundreds of colleges
and universities across the country.
Edupliance is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 2.0 PDCs for the SHRM-CPSM or SHRM-SCPSM. For more information about certification or recertification, please visit www.shrmcertification.org.
This webinar has been approved for 2.0 HR (General) re-certification credit hours toward California, GPHR, HRBP, HRMP, PHR, and SPHR recertification through the HR Certification Institute. The use of this seal is not an endorsement by the HR Certification Institute of the quality of the activity. It means that this activity has met the HR Certification Institute’s criteria to be pre-approved for re-certification credit.
Edupliance 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.
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.PLEASE NOTE: To receive credit through the NASBA for this program you MUST attend the Live program in its entirety and complete the required progress checks.
Number of CPE Credits Awarded for This Course: 2.0 (Taxes 2.0)
Delivery Method: Group Internet Based