On Demand: Payroll Lecture 105: 2020 Form 941–COVID-19 Edition

$149.00

On Demand

This Presentation covers:

  • 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!

 

Description

The passage of the Families First and Cares Acts have caused massive changes to IRS Form 941 that affect the final three quarters in 2020! 16 new lines now appear on this form along with changes to two others! Are you ready to meet these changes and handle them correctly? Here are just some of the new items you must now know and understand:

  • What has changed in Line 11?
  • Where do you enter your total non-refundable credits?
  • Where do you enter the deferred amount of the employer share of social security tax?
  • Where do you enter total deposits, deferrals, and refundable credits?
  • What is entered on Line 22?