Description

HRCI & SHRM Approved Webinar | CEUs = 1.5 Credit Hours

Overview:

The Form 941 is a common form known to any employer. However, it is anything but simple. Because it records all subject payments to employees, and provides credits for things such as the tips, employers and third-party payroll processors have to keep track of updates every year. The Earned Retention Credit (ERC) has now ended and the 2026 941 has significant changes including adjustments from the One Big Beautiful Bill Act. So, join Mark Schwartz in this detailed look at the 2026 Form 941. Review your payroll system to ensure compliance, completeness and inclusivity of all information.

 What will You Learn:

• Origin and Purpose
  • Meant to be a reconciliation Form for quarterly Wages & Deposits
  • Payments and taxes to be recorded
  • Special rules and exceptions
• Deposits and Schedules – Frequency of Deposits
• SOC, SEC and Medicare tax requirements – Subject and exempt
• FICA/FIT requirements – Subject and exempt
• March 2026 Revision changes
  • New requirements
  • Reminders
  • Special Circumstances
• Form 941 Section by Section
• Common Errors
• Reporting third party sick pay, group term life insurance and tips correctly
• How to reconcile the Forms 941 with the Forms W-2
• What to do if you discover an error in deposits for the quarter when completing the Form 941
• Using the 941X form to correct the Form 941

Why you should Attend:

The bigger the business you are, the more complex your compensation structure, and whether or not you use a third-party, you should know about the details of this Form. Its difficulty makes it easy to make mistakes. Mistakes are easily caught by the IRS. So, ask yourself the following questions:

• Does my payroll system adequately record all taxable compensation to all workers – especially executives, traveling worker’s expenses, fringe benefits, etc?
• Are deposits accurate and on time?
• Do you take advantage of credits available to you for the “Emergency of the Year” that applies to you.
• How frequently are 941X’s required for your business.?
• Would it be beneficial to use a third-party in order to avoid “red flags” that can mean audits or reviews?

Who should Attend:

• Payroll and HR Processors
• Payroll and HR Processors managers
• Accountants
• Financial Reporters
• Third-party payroll processors
• Medium to large sized business, or small business that offer an array of fringe benefits and compensation to their workers