Form 941 for 2023: What's Next For 2023?
90 Minutes
This webinar covers the IRS Form 941 and its accompanying Form Schedule B for the first quarter of 2023. It discusses what is new for this version as well as the requirements for completing each form line by line. It includes the filing requirements and tips on reconciling and balancing the two forms. The webinar also covers the forms used to amend or correct the returns.
WHY SHOULD YOU ATTEND?
- Form 941 is the link between your payroll records and the IRS tax records. Proper administration of this vital form is critical if you want to avoid IRS Notices and the penalties and interest that accompany them. Schedule B is also a crucial form for many employers. The IRS demands that Form 941 and Schedule B match to the penny…every single time…without fail!
- It has always been a requirement that Form 941 be reconciled with Form W-2 prior to submitting each form. If the employer fails in this reconciliation, the IRS and Social Security Administration can both assess penalties! This reconciliation has become even more critical these past few years.
AREA COVERED
- Line-by-line review of the 2023 Form 941 third quarter
- Pending changes to the third quarter
- Tips for completing Schedule B—liability dates vs. deposit dates
- Tips to balance Form 941 and Schedule B to the penny—as required by the IRS
- Form due dates
- Who should sign Form 941
- Reporting third-party sick pay, group term life insurance, and tips correctly
- How to reconcile Form 941 with the Form W-2
- What to do if you discover an error in deposits for the quarter when completing Form 941
- Using the 941X form to correct Form 941
LEARNING OBJECTIVES
- For the attendee to understand the requirements for completing the latest version of the 2023 Form 941 correctly line by line.
- Ensure that the attendee has the basic knowledge to complete Form Schedule B according to IRS regulations and to ensure that it reconciles down to the penny with Form 941 prior to submission.
- To ensure the attendee knows when a Form 941-X is required and provide the attendee with the basic knowledge of how to complete Form 941-X.
- To demonstrate to the attendee the reconciliations needed under IRS and Social Security Administration regulations.
WHO WILL BENEFIT?
- Payroll Executives/Managers/Administrators/Professionals/Practitioners/Entry Level Personnel
- Human Resources Executives/Managers/Administrators
- Accounting Personnel
- Business Owners/Executive Officers/Operations and Departmental Managers
- Lawmakers
- Attorneys/Legal Professionals
- Any individual or entity that must deal with the complexities and requirements of Payroll compliance issues
- Form 941 is the link between your payroll records and the IRS tax records. Proper administration of this vital form is critical if you want to avoid IRS Notices and the penalties and interest that accompany them. Schedule B is also a crucial form for many employers. The IRS demands that Form 941 and Schedule B match to the penny…every single time…without fail!
- It has always been a requirement that Form 941 be reconciled with Form W-2 prior to submitting each form. If the employer fails in this reconciliation, the IRS and Social Security Administration can both assess penalties! This reconciliation has become even more critical these past few years.
- Line-by-line review of the 2023 Form 941 third quarter
- Pending changes to the third quarter
- Tips for completing Schedule B—liability dates vs. deposit dates
- Tips to balance Form 941 and Schedule B to the penny—as required by the IRS
- Form due dates
- Who should sign Form 941
- Reporting third-party sick pay, group term life insurance, and tips correctly
- How to reconcile Form 941 with the Form W-2
- What to do if you discover an error in deposits for the quarter when completing Form 941
- Using the 941X form to correct Form 941
- For the attendee to understand the requirements for completing the latest version of the 2023 Form 941 correctly line by line.
- Ensure that the attendee has the basic knowledge to complete Form Schedule B according to IRS regulations and to ensure that it reconciles down to the penny with Form 941 prior to submission.
- To ensure the attendee knows when a Form 941-X is required and provide the attendee with the basic knowledge of how to complete Form 941-X.
- To demonstrate to the attendee the reconciliations needed under IRS and Social Security Administration regulations.
- Payroll Executives/Managers/Administrators/Professionals/Practitioners/Entry Level Personnel
- Human Resources Executives/Managers/Administrators
- Accounting Personnel
- Business Owners/Executive Officers/Operations and Departmental Managers
- Lawmakers
- Attorneys/Legal Professionals
- Any individual or entity that must deal with the complexities and requirements of Payroll compliance issues
Speaker Profile
Vicki M Lambert
Vicki M. Lambert, CPP, is President and Academic Director of The Payroll Advisor™, a firm specializing in payroll education and training. The company’s website www.thepayrolladvisor.com offers a payroll news service that keeps payroll professionals up-to-date on the latest rules and regulations.With 40 years of hands-on experience in all facets of payroll functions and over three decades 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, attended by executives and professionals from some …
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