SPEAKER: Karen Davis, EA
DATE: Wednesday September 30, 2020 or Thursday October 22, 2020
TIME: 11:00 A.M. - 1:00 P.M. Eastern on 9/30
10:00 A.M. - 12:00 P.M. Eastern on 10/22
LOCATION: Webinar Rebroadcast
NOTE: This seminar will be recorded immediately prior to the actual seminar date in order to provide the most up-to-date guidance. Additionally, there will be an opportunity to receive answers from the instructor in real-time by submitting your questions in the Q&A forum on the webinar page!
This seminar will highlight the new 3-page Form 941 for the Q3 & Q4 of 2020 featuring a line-by-line example including: (1) the Employee Retention Credit and deferral of employer share of social security tax; and (2) FFCRA sick and family leave credits and the new Form 7200 (Advance Payment of Employer Credits Due to COVID-19).
Close attention will be paid to how these topics affect self-employed people –
1. IRS guidance on how to report FFCRA credits on W-2, so that Schedule C filers can coordinate whatever they are claiming independently
2. JUST RELEASED on Sep. 8: Form 7202 for self-employed people to claim the FFCRA credits, as introduced in Notice 2020-54
3. IRS draft Schedule SE, with a new Part III to show 6.2% deferral of "employer share" of the 12.4% social security tax
Topics & Learning Objectives Include:
- A line-by-line example including the Employee Retention Credit
- Deferral of employer share of social security tax
- FFCRA sick and family leave credits
- FFCRA detailed example
- New Form 7200 (Advance Payment of Employer Credits Due to COVID-19).
- New 2020 Schedule SE
Click On The Video Below To View A Demo of Karen Davis
Karen Davis is one of the most knowledgeable tax lecturers in the nation. She has the ability to simplify the most complex tax rules. Bring in all your tax questions and get a CORRECT answer.