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How COVID-19 Impacts Form 941 & Key Payroll Issues

How COVID-19 Impacts Form 941 and Key Payroll Issues
This Webinar will cover payroll-related COVID-19 changes. These changes include: the ability to defer payment on employer-side Social Security taxes; a tax credit for employers who meet the requirements for the Employee Retention Credit, among other changes. In response, the IRS has released a new version of the Form 941 quarterly payroll report, to account for these deferrals and credits, which is due July 31. But, wait there’s more…The IRS has also released a new form called Form 7200 which can be used for claiming advance payments on the tax credits. We will talk about how these provisions and forms tie together.

Bonus: Learn how Payroll Protection Program (PPP) loans have entered into the payroll mix as well.