Why Watch:

 Jason Peckham, Vice President of Resolutions, will answer lenders’ questions raised in response to Congress’s COVID-19 legislation affecting employment taxes. The desire to be proactive and get out in front of the recent changes – deferred payments and tax credits – is understandable.

On April 29, 2020, the IRS released its draft of the updated 941 withholding return. Not surprisingly, the return is rather convoluted. Regardless, lenders do have some options for confirming clients’ federal tax deposits.

What You Will Learn:

Jason will highlight the recent IRS changes so you can spot issues, be proactive, and fund with confidence by reviewing:

• The current status of the IRS – what is open and what is not.
• A brief description of the initiatives affecting withholding taxes – deferred payments and tax credits.
• The draft of the updated 941 withholding return released on April 29, 2020, and some items of interest.
• How to use Tax Guard’s report and additional pieces of information to confirm deposits in the absence of clear direction and information from the IRS.