Understanding the ERC and your Quarterly 941 Filing


September 22, 2023


Clarissia L. Harris

  1:00 PM ET | 12:00 PM CT | 10:00 AM PT | 60 Minutes

* Not able to attend the live session? We can arrange an on-demand session for You. Please call 1-‪814-892-0304

This program has been approved for 1.0 PDCs toward SHRM certification hours.
The program is pre-approved for 1 credit hour under HRCI


Understanding the Employee Retention Credit (ERC) in 2023 is proving to be a challenge for businesses of all sizes!

While this credit is no longer available, businesses can claim it for previous quarters. This is done using Form 941 and 941-X. Join our webinar for more information on the ERC and how to easily e-file Form 941 with Clarissia Harris!

The Employee Retention Credit (ERC) is a really complex process. Even the most experienced tax expert may find evaluating ERC eligibility under gross revenues or partial suspension difficult. 

Furthermore, there are various restrictions that make estimating the ERC with precision extremely challenging (e.g., 30-day limitation, ownership family restriction, PPP overlap, etc.). Many employers, on the other hand, have the most trouble reporting the tax credit on separate 941-X forms for each quarter. Form 941-X instructions can be confusing to fully monetize the ERC credit for your business.

Key ERC Credit Takeaways You Will Learn:

  • Understanding Form 941-X: Learn how this form applies to Employee Retention Credit (ERC) and the filing process.
  • Filing Deadlines: Discover the crucial deadlines for amending your 941 forms to claim the ERC.
  • Maximize Benefits: Know how to claim up to $26,000 per employee through the ERC program for your business.
  • ERC and PPP Compatibility: Find out if it’s possible to file for both ERC and Paycheck Protection Program (PPP) in the same tax year.
  • Qualified Leave Wages: Understand how to incorporate pay from qualified leave wages into your ERC calculations.
  • How to complete and e-file Form 941
  • What the difference is between the “nonrefundable portion” of your credits and the “refundable portion”;
  • How the new Form 7200 impacts your 941
  • Which common mistake to avoid in calculating your refund
  • Tips for completing the Schedule B—liability dates vs. deposit dates.
  • Tips to balance Form 941 and Schedule B to the penny—as required by the IRS.
  • Form due dates.
  • Who should sign the Form 941.
  • Reporting third party sick pay, group term life insurance and tips correctly.
  • How to reconcile the Forms 941 with the Forms W-2.
  • What to do if you discover an error in deposits for the quarter when completing the Form 941.

Who should attend?

  • Payroll Executives/Managers/Administrators/Professionals/Practitioners/Entry Level Personnel
  • Human Resources Executives/Managers/Administrators
  • Accounting Personnel
  • Business Owners/Executive Officers/Operations and Departmental Managers
  • LawmakersAttorneys/Legal Professionals
  • Any individual or entity that must deal with the complexities and requirements of Payroll compliance issue

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