Dive into the world of year-end tax returns with Greenshades' latest webinar in our Year-End series., “Conquer 940/941 Returns: Expert Strategies for Compliance, Savings, and Success," featuring resident tax experts Hannah Walk and Chris Hadden.
This webinar provided a comprehensive overview of the different types of returns that are due at the end of the year, including the 941, SUTA/FUTA, and 8027 returns.
Watch the On-Demand Webinar here:
Hannah Walk discussed the top five reasons for rejections based on the IRS's monthly reports, emphasizing the importance of accuracy in your submissions.
Chris covered frequent errors made on Form 941, highlighting crucial aspects like observing the 12th as the quarter-ending payroll date and the correct use of credit boxes. He also stressed the benefits of using software for accurate line 7 totals. Hannah further emphasized the importance of filing individual correction forms for each 94X form that requires amendments, ensuring each is submitted separately.
Our experts reminded attendees of the essential deadlines for various returns.
-Form 940 is due January 31
-W-2 Forms are due January 31
-Form 8027 is due by
Chris spoke about the streamlined filing process for 940/941 forms for Puerto Rico and U.S Territories, and how Greenshades supports these filings.
In addition to compliance, we explored the transformative impact of tax software on compliance processes. Our experts highlighted how this technology eliminates manual labor and streamlines tasks.
As year-end approaches, it is critical to think beyond year-end forms and evaluate the payroll tax returns you have due.
Need assistance with payroll tax returns? Contact Greenshades today. Discover how our year-end, tax and cloud solutions can support your e-filing requirements.
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