IRS Form 941: Simple Reconciliation Form or “Red Flag” for an Audit?

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    Speaker: Mark Schwartz

    More Trainings by this Expert
    Duration: 90 Minutes
    Product Code: 50837
    Level: Intermediate

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After attending this webinar you will be able to:

  • Describe the IRS Form 941, in detail, for your business needs.
  • Discuss the efficiency of your payroll system vis-à-vis the information you need to complete Form 941 on time.
  • Explain to your workforce the best practices for communicating to the payroll supervisors the information needed.
  • Identify possible errors in your company that expose you to unnecessary liability.
  • Review and modify your payroll system as necessary.


The IRS Form 941 can be a forgotten item in today’s electronic filing environment. But its importance is greater now than ever. When it was manually prepared, payroll supervisors were more or less forced to consider what went into the calculations.

If it is time to be reminded of what this form says to the IRS, why not use this webinar as an opportunity to do so?


  • 941 basics
    • Purpose of IRS Form 941
    • Due dates
    • What it does and does not do
    • New IRS Form 941 updates for 2019
  • 941 Line by Line
    • An in-depth look at parts I-IV
    • Where to get additional information
  • Deposit Schedules
    • How to determine if you are on the right deposit schedule
    • Consequences of late depositing
    • How deposits reconcile to 941
    • Handling late deposits
  • IRS additional instructions
  • Taxable Wages
  • Common errors and Form 941x


The IRS Form 941 is the quarterly reconciliation form that reconciles taxable wages with deposits made during the calendar quarter.

Simple, right?

Depending on the complexity of your compensation structure, benefits, departmental decentralization and other factors, the 941 just might be a quarterly “red flag” for an IRS audit. Use this webinar as a basis to review your knowledge of what does and doesn’t belong on a 941, the information you need to complete it properly, and how to self-review before an official review happens.


  • Payroll Managers
  • Payroll Clerks
  • Business Owners who “do I all” for their businesses
  • Payroll Supervisors and Personnel
  • Accounts Payable Supervisors and Personnel
  • Public Accountants
  • Internal Auditors
  • Tax Compliance Officers
  • Enrolled Agents
  • Officers and Managers with Tax Compliance Oversight
  • Company / Business Owners
  • Managers / Supervisors
  • Public Agency Managers
  • Audit and Compliance Personnel / Risk Managers


Years of Experience: 15+ years

Areas of Expertise: Payroll Processing and Payroll Tax Issues

Mark Schwartz is an employment tax specialist and has over 15 years of employment tax experience as an independent consultant and as a payroll tax auditor with the State of California. He has managed an audit caseload of 20 ongoing audits, from small home-based businesses to large multi-national corporations. He is expert at defining regulatory and statutory requirements from local, State and Federal government agencies; and helping the average business person understand what that mean to their business. He has processed weekly and bi-weekly payroll checks plus tax forms for businesses with hourly as well as exempt workers, multistate operations and a wide variety of benefits.

Mr. Schwartz provides consulting services encompassing payroll processing and payroll tax issues. These include payroll tax minimization, payroll tax compliance reviews, independent contractor studies, use of electronic transfers, deductions, benefits, etc. Markhas represented both clients and the State in front of the State Appeals Board. He understands the complexities of local wage laws, unemployment and disability claims, and other wage and benefit issues affecting your employees.

Mark prides himself on his outstanding customer service skills. He listens attentively to his clientele, helping them bridge the gap between the small business world and Government bureaucracy. He eagerly assists with clients needs, and feels that educating clients toward faster, accurate and more complete payroll processes provides the most value.

Mark is a participating member of the American Payroll Association. He earned his BA and MBA in Finance at Santa Clara University. He has held Certified Internal Auditor and Certified Investment and Derivatives Auditor Credentials. Mark is currently pursuing a Certified Payroll Fundamentals Credential with the American Payroll Association.

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