01 Jan Form 941X and how to correct for COVID credits Form 941X and how to correct for COVID credits Monday, January 1, 2024 (12:00 AM) to Thursday, December 31, 2026 (11:59 PM) 1 PDCs Provider: MY-CPE LLC Course Name: Form 941X and how to correct for COVID credits Speaker: Dayna Reum Program Type: Videoconferences, webcasts, audiocasts, podcasts, eBooks, self-directed E-Learning Registration URL: https://my-cpe.com/live-webinars/form-941x-and-how-to-correct-for-covid-credits Email Details To discuss line by line detail of the new Form 941-X. To analyze the legal deadlines for completing the 941-X. To review the COVID-19 credits and how to fix them with the 941-X. To analyze how to know properly claim underreported taxes or over-reported taxes. To inspect if the 941X always accompanies a W-2C and how to know the difference. To discuss retro 941X and what needs to be completed because of the ARP Act. To inspect deadlines for Filing Form 941. To explain Form 941X line by line review. To explore COVID-19 updates and how to fix the update credits. Details You're Registered! DescriptionLocation The new Form 941 has been modified a lot over the last year to include all the COVID-19 credits. This has been a huge challenge to employers. But deadlines with the IRS remained the same. Some employers found out after they failed to make the deadline that they did it wrong. Now employers are asking how I fix my mistakes. To expand on this complexity due to the American Rescue plan Act of 2021 that was signed into law more employers are finding themselves needing to complete 941-X for the 2020 retroes. And the newest 941x update has made employers question how to process updates. Form 941-X (Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund Form) is used to correct any errors made on Form 941. If you find an error on a previously filed Form 941, you must correct this error using Form 941-X. The following information is required when filing Form 941-X: Underreported taxes - reporting less income or revenue than was actually received Overreported taxes - reporting more income or revenue than was actually received If you are filing Form 941-X for underreported taxes, you must make a tax payment when you file the Form. When reporting overreported taxes, you can claim either a refund or abatement for your next return. This online CE/CPE tax webinar will cover the most recent 941-X and how employers would process it in 2022 we will also cover the 2021 concerns for the 941-X if employers still need to process it.