HR & Payroll

New Form 941X for Q-2 2021: The Latest Changes including Covid Credit Updates

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    Dayna Reum CPP FPC
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    Nov 05, 2021
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    13:00 PM EST
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    60 Min
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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.


The draft of the revised Form 941-X, Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund, was released July 27 by the Internal Revenue Service. The proposed changes were expected because the agency recently revised the 2020 Form 941, Employer’s Quarterly Federal Tax Return, and the accompanying instructions to accommodate reporting data on employment tax relief related to Covid-19.


The new Form 941 released for Q2 2021 to include all the COVID-19 credits was a huge challenge to employers, but deadlines with the IRS remained the same. Some employers found out after they filed 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 941X for 2020 retro’s and the newest 941x update has made employers question how to process updates. Join this webinar to know more about these changes.


Join this webinar to learn everything you will need to know to complete the new Form 941-X with confidence.


Session Highlight:

·       The form 941X basics

·       The deadlines for filling out Form 941X

·       What mistakes in Form 941 you can correct through the 941X and how?

·       The taxable wages and tips

·       The COVID-19 updates and how to fix for the credits and when to know what time frame to fix for

·       What is Form 941-X?

·       When is Form 941-X Required?

·       Errors that can be Corrected by Filing Form 941-X

·       Deadline to File Form 941-X

·       Are there any penalties for underreporting taxes?

·       Where to mail Form 941-X?


What Will You Learn:

·       Line by line detail of the new Form 941X

·       What are the legal deadlines for completing the 941X

·       Review of the COVID-19 Credits and how to fix them with the 941X

·       How to know properly claim underreported taxes or over reported taxes.

·       Does the 941X always accompany a W-2C and how to know the difference

·       Retro 941X and what needs to be completed because of the ARP Act

·       Detailed discussion about the American Rescue Plan Act (ARPA) and how it is causing multiple 941X for employers


Who Should Attend:

·       All Employers

·       Business Owners

·       Company Leadership

·       Payroll Professionals

·       HR Professionals

·       CPA

·       Accounting Professionals


Ask your question directly from our expert during the Q&A session following the live event.

Dayna 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.


1.0 HRCI Approved Credit Hours

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