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Amending Forms W-2 and 941

Avoid costly penalties on incorrect tax forms by collecting the pertinent information to avoid errors on W-2 and 941 forms and learn how to amend them.

Many payroll departments struggle with correcting forms W-2 for both a current year and for earlier years. It is often difficult to correctly correct W-2 forms timely and also provide all the related amended tax returns to balance the payroll taxes with the IRS, social security administrations and state and local jurisdictions. They often question the finer points of completing a Form W-2C to reflect the corrections. Payroll departments often file incorrect amended forms 941 and 940 and/or neglect to file all the state and local payroll tax amendments required. This material helps the persons responsible for payroll tax filings to collect the pertinent information to complete the corrected Form W-2 as well as the amended Forms 941 and 940 and any pertinent state and local tax filings. The content will discuss specific types of errors found on form W-2 and provide guidance on how to make the necessary corrections. The topic will provide information on amending both current year and prior year corrections. Failing to properly complete corrected forms and payroll tax filings may result in additional tax, penalties and interest. This topic will help payroll departments avoid penalties and time consuming responses to follow up questions from the IRS and other taxing jurisdictions.

Runtime: 90 minutes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

W-2/W-3 Correction Basics

  • Statute of Limitations to Correct Forms
  • Timing to Provide Forms to Individuals and Submit to SSA
  • Which Forms to Use

Correcting Errors on Current Forms

  • Issue a W-2C or a Corrected W-2?
  • Adjusting Payroll Tax Filings for 941 and 940
  • Timing to Supply to Individuals and Report to SSA

Correcting Common Errors for Prior Year Forms

  • Correcting Employee's Name
  • Correcting Employee's Address
  • Correcting Multiple W-2 Forms for an Employee
  • Correcting Entries in Box 12

Correcting Federal Payroll Tax Forms

  • Form 941 - Underpayment of Taxes
  • Form 941 - Overpayment of Taxes
  • Correcting Form 940

Other Considerations

  • Refunding of Overpaid FICA Taxes
  • Correcting State Tax Forms
  • Making Corrections to Local Taxes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on February 6, 2018.

Call 1-866-352-9540 for further credit information.

  • SHRM 1.5
     
  • Lorman Education Services is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.5 PDC(s) for the SHRM-CP or SHRM-SCP. For more information about certification or recertification, please visit www.shrmcertification.org.
     

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Mary H. Angelbeck

Mary H. Angelbeck

  • Retired member of Ernst & Young’s National Employment Tax/Information Reporting Group
  • Enrolled agent with the IRS
  • More than 30 years of experience in the field of taxation, both as a state administrator and as a consultant
  • Practice included managing large payroll restructuring projects; payroll tax advisory services related to mergers and acquisitions; providing year-end federal, multistate, and local payroll tax advisory services; payroll related federal, state and local tax controversy; and federal as well as state and local information reporting (1099 and 1042-S) issues
  • Speaker for local chapters of the American Payroll Association, the New York University Annual Institute on State and Local Taxation, the Federation of Tax Administrators, the Tax Executives Institute, the Counsel on State Taxation, The American Bar Association, the Pennsylvania Institute of CPAs and Lorman Education Services
  • Can be contacted at [email protected]
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 401592
Published 2018
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