This course provides an overview of three very important forms for the payroll department. First the Form W-2 for 2023, second the Form W-4 for 2023 and finally, the IRS Form 941 and its accompanying Form Schedule B for 2023. Each of these forms plays a critical role in calculating, tracking, paying, and reporting taxes for each employee.

W-2 Form

The Form W-2 is one of the most important documents that payroll departments must process. This course covers the basics of the IRS Form W-2 for 2023. We examine the requirements for completing and filing the form including a box-by-box explanation.

W-4 Form

The importance of the Form W-4 is fundamental to the payroll department. It is the foundation for the taxation of an employee’s paycheck as well as a required IRS form. This course takes a broad look at the IRS Form W-4 for 2023 and what’s in store for payroll in the new year. This includes new wording changes, the requirements for completing the form properly, handling non-resident aliens, state equivalent forms, and record retention requirements.

941 Form 2023

Form 941 is the link between your payroll records and the IRS tax records. Proper administration of this vital form is critical if you want to avoid IRS Notices and the penalties and interest that accompany them. The Schedule B is also a crucial form for many employers. The IRS demands that the Form 941 and the Schedule B match to the penny…every single time…without fail! The course will discuss what is new for the 2023 version of the form as well as the requirements for completing the form line by line.