Compass Tax Educators

This course reviews components of the traditional Form 941 and incorporates changes to reporting related to the employee retention credit for 2020 and 2021, including filing Form 941-X when an employer is eligible for ERC but failed to claim it on the original 941.  A case study highlights the difference between the nonrefundable and refundable portions of the employee retention credit.

Learning Objectives

• List the components of traditional Form 941.
• Determine eligibility for employee retention credit  for 2020 and 2021.
• Calculate employee retention credit amount for 2nd and 3rd quarters 2020.
• Calculate employee retention credit amount for 1st quarter 2021.

Education Information

Length: 50 minutes

Prerequisite: None

Advanced Preparation: None

Program Level: Basic

IRS Program Number for Self-Study On-Demand Webinar: NMVBP-T-00195-21-S 

Delivery Method: QAS Self-Study (NASBA) / Self-Study On-Demand (IRS)

Field of Study: Taxes (NASBA) / Federal Tax Law Topic/Federal Tax Matter (IRS)

Credit hours: 1 NASBA CPE / 1 IRS CE

Information can be found quickly by searching key terms in the PowerPoint by using the built-in search feature.

Course expires one year after purchase.

Instructor: Geri Bowman, CPA, EA, USTCP Click here to learn more about the instructor

All continuing education credit is provided through Gregory & Associates, Inc. which is doing business as Compass Tax Educators. Click here for more information regarding our education policies.