Larry Gray, CPA and Debbie Cook, CPA quickly walk through how to fill out the W3 Form with the new IRS form 941, how to reconcile the two, and what to watch for. Larry and Debbie also explain how to report qualified sick wages and qualified family leave wages to your employees on their W2. These are all new things from the stimulus package (CARES Act) required by small business owners with employees! If you've filled out payroll reports for years or are new to it this is important to know! This is a must watch for small business owners and tax professionals! What to listen for: 👉 New 941 with stimulus 👉 Reconciling all 4 quarters 👉 Qualified sick leaves wages 👉 Qualified family leave 👉 New lines on 941 Box 5ai, 5aii 👉 Reporting sick leave wages to employees on W2 or separate statement Check out our other 941 videos! 😀 Form 941: 6 Most Asked Questions ANSWERED (New & Old Compared) 📽 https://youtu.be/O5Kl9DZa66I How To Fill Out The NEW Form 941 When You Have PPP or EIDL 📽 https://youtu.be/WeI64ZIqr2Y Reconciling Form 7200 with the NEW Form 941 📽 https://youtu.be/Zdefhvdqhm8 How to Fill Out Worksheet 1 of the NEW Form 941 | An EASY Step by Step Guide 📽 https://youtu.be/tw-gWg82D2M NEW 941 Payroll Tax Form for 2020!! Reporting Sick and Family Leave and ERC 📽 https://youtu.be/mz481hxj6vk Learn How to Reconcile Tax Credits on Form 7200 with Payroll Tax 941 and Feel Good About It 📽 https://youtu.be/0qccOUXWmCA Get Your Stimulus Tax Credits NOW | Form 7200 and Payroll Tax Form 941 📽 https://youtu.be/oiFwU_KKziI Make sure to hit the bell icon to get notified when we release steps 2-4 of our PPP Second Draw series where we'll tackle more on deductibility and forgiveness of the loan. SUBSCRIBE! 😎 @ youtube.com/agcsolutions #howtofilloutformw32020 #formw3forerc #NEWIRSform941 #smallbusinesspayroll #reportingERC #w3andfor941 #reportingsickleaveonw3 #qualifiedsickleave #qualifiedfamilyleave #yearendpayrollreports #quarterlypayrollreports #reportingtotheIRS #erc #employeeretentioncredit #ERCupdate #smallbusiness #smallbusinesspayroll #ConsolidatedAppropriationsAct #secondstimuluscheck #2ndstimulus #stimulusupdate #caresactupdate #caresact2021 #stimulus2021 #unemploymentcaresact #stimuluscaresact #taximpactofstimulusbill #stimulusbill #secondstimulusbill #newstimuluspackage #caresact2 _________________________________________________________________________________________ AGC Solutions does not provide tax, legal or accounting advice. This content has been prepared for informational purposes only and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction. Also, tax law is ever-changing and every effort should be made to seek out the most current information. Make sure to check date of published content to ensure most current information.