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.

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.

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.

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.

Learning Objectives
  • Explore the requirements for the Form W-4 for 2023.
  • Discover the laws and regulations that are required to be followed when completing a Form 941.
  • Recognize payroll’s responsibility relating to ensuring the form W-2 is processed correctly.
Last updated/reviewed: August 15, 2023
8 Reviews (21 ratings)

Reviews

4
Anonymous Author
This was a great overview for the forms, the 941 has historically been a difficult one for me to look at because of the number of lines and seems to be intimidating since I don't look at it often, so I have to do it more often.

5
Anonymous Author
This was a great training to learn about the W2 and 941. I have processed payroll for several years and have not yet had a training specifically on W2s until this one, so it was very beneficial for me.

5
Anonymous Author
This was a very instructive and informative course outlining 3 important tax documents. I will be sure to use this information throughout the workplace. Thank you!

4
Member's Profile
This class was helpful. I learned a lot and this was needed for my recertification

5
Anonymous Author
Great job, important information, definitely reccommend, did great learn it!!

5
Member's Profile
Informational and informative, speaker knew the content well. Pay Attention!

5
Member's Profile
This was ALOT of information. I would watch it more than once!

5
Member's Profile
Very informative! It's a keeper for future reference.

Prerequisites
Course Complexity: Foundational

No Advanced Preparation or Prerequisites are needed for this course.

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
Course Syllabus
INTRODUCTION AND OVERVIEW
  An Overview of Forms W-2, W-4 and 941 for 20233:42
FORM W-2
  The Basics of Form W-25:26
  Review of Form W-2 Boxes 1 - 1017:45
  Review of Form W-2 Boxes 11 - 2010:02
  Form W-2 Reconciliation and Processing13:50
FORM W-4
  The Basics of Form W-4 for 202311:05
  Requirements for Form W-4 202310:46
  State Equivalents for Form W-4 for 20235:38
FORM 941
  The Basics of Form 9418:16
  Review of Form 941: Line 1-1121:46
  Review of Form 941: Line 12-165:32
  Review of Form 941: Lines 17-285:10
  Form 941 Worksheets and Schedule B5:46
CONTINUOUS PLAY
  Forms W-2, W-4 and 941 for 2023: An Overview2:04:44
SUPPORTING MATERIAL
  Slides: Forms W-2, W-4 and 941 for 2023: An OverviewPDF
  Forms W-2, W-4 and 941 for 2023: An Overview Glossary/IndexPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam