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IRS Form 941 Reporting Update

Date: Monday, January 22, 2018
Time: 1:00 - 2:40 pm EST

Sponsored by Lorman Education Services


Registration - Live Webinar Only: $219.00

Registration - Live Webinar Plus CD Recording: $288.00

 

Determine Form 941 compliance requirements and what to do when you need to correct an error on prior returns.

The IRS collects hundreds of billions of dollars of employment taxes each year - more than any other source of revenue. Form 941 and related forms lie at the heart of the IRS' employment tax collection system. Much of the administrative burden under that system falls on employers.

An employer's failure to understand and comply with its obligations can result in IRS assessments, audits and penalties. This topic will help tax and payroll specialists and others with an interest in this issue to understand the employer's obligations under the employment tax collection system, including how to handle corrections and disputes when they arise.

Learning Objectives:

  • You will be able to describe withholding requirements.
  • You will be able to discuss interest and penalties.
  • You will be able to explain how to correct errors on prior returns and obtain refunds.
  • You will be able to review deposit requirements.

This Live Webinar Covers These Hot Issues:

Overview of Employment Tax Rules

  • Withholding Requirements
  • Wage Withholding
  • Backup Withholding
  • Withholding on Payments to Nonresident Aliens
  • Deposit Requirements
  • Due Dates and De Minimis Rules
  • Electronic Federal Tax Payment System
  • Employment Tax Return Requirement
  • Forms for Different Types of Employment Taxes
  • Filing Returns Electronically
  • Information Reporting Requirements
  • Forms W2 and W3
  • Form 1099MISC
  • Special Situations (Employee Termination, Mergers, etc.)

Compliance Issues

  • Correcting Errors on Prior Returns and Obtaining Refunds
  • Administrative Rules
  • Refund Suits
  • Employee Notice Requirements
  • Special Situations (Mergers, etc.)
  • Interest and Penalties
  • FailuretoDeposit Penalty
  • Interest on Late Payments, InterestFree Adjustments
  • FailuretoFile Penalty
  • AccuracyRelated Penalty
  • FailuretoPay Penalty
  • Information Reporting Penalties
  • Responsible Person (Trust Fund Recovery) Penalty
  • Criminal Penalties

Credit Information (Sponsored by Lorman Education Services):

  • CPE
  • NASBA
  • Enrolled Agents

For Detailed Credit Information page click here

Only registered attendee will receive continuing education credit.

Faculty:

Kurt L.P. Lawson, Esq., Hogan Lovells US LLP

  • Partner with the law firm of Hogan Lovells US LLP in Washington, D.C.
  • Primarily represents employers on all aspects of employment taxes and pension, health, fringe and other benefits
  • Listed in The Best Lawyers in America and Super Lawyers in Washington, D.C. since 2007
  • Ranked in Chambers USA since 2010
  • Member of the American College of Employee Benefits Counsel
  • Writer and speaker on tax and employee benefits matters and an adjunct professor at the Georgetown Law Center
  • ABA Tax Section council director and former chair of the Employee Benefits Committee
  • Graduate, Yale and the University of Virginia School of Law
  • Can be contacted at kurt.lawson@hoganlovells.com

Edward James Leyden, Esq., Leyden Law LLC

  • Owner of Leyden Law LLC in Bowie, Maryland
  • Counsels companies on taxation and employment issues
  • Has advised a diverse group of clients, including technology companies, health care enterprises, National Football League players, the online gaming community, and the commissioner of Major League Baseball
  • Past chair of the American Bar Association Section of Taxation, Committee on Employment Taxes, and has been elected as a fellow of the American Bar Foundation
  • Law degrees, University of Baltimore and the Georgetown University Law Center; undergraduate degree in commerce and engineering, Drexel University
  • Can be contacted at ejleyden@leydenlaw.com

(Not available outside the US)