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Amending Forms W-2 and 941

Avoid errors and costly penalties on incorrect tax forms by collecting the pertinent information needed and how to amend them.

No one wants to have to amend tax forms but no matter how many precautions you take to avoid it, there will always be a time that you will need to do an amendment. This material will teach you how to collect the information needed to complete W-2 corrections as well as file the amended 941 forms and any additional 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. Failure to properly amend 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.

61 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 35 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 and W-3 Corrections

  • Statute of Limitations on Corrections
  • Timing to Provide Corrections to Employees/SSA
  • Correct Forms to Use

Corrections on Current Forms

  • Form W-2c or Corrected Form W-2
  • Adjustments to Form 941 and Form 940
  • Timing to Send out Corrections and Reports

Corrections to Common Errors for Prior Year Forms

  • Employee Name Corrections
  • Employee Address Corrections
  • Multiple W-2 Forms Corrections
  • Box 12 Entry Corrections

Federal Payroll Tax Form Amendments

  • Form 941 - Underpayments
  • Form 941 - Overpayments
  • Form 940 - Corrections

Other Considerations

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

Over 35 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 Course

This course was last revised on November 18, 2021.

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

  • CPP/FPC
     
  • Lorman Education Services is an approved provider through the American Payroll Association. This seminar is approved for 1.0 RCHs. PLEASE NOTE: To receive credit through the American Payroll Association for this program you MUST attend the program in its entirety, complete all progress checks and pass the final exam. You cannot obtain credit if you have already completed this course in its live version.
     

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

MP3 Download

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

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Why Lorman?

Over 35 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

Debbie Cash, CPP

Debbie Cash, CPP

G&A Partners

  • Business Analyst-Implementation at G&A Partners
  • G&A Partners is a Professional Employer Organization (PEO) that offers payroll, human resources, benefits management, risk management, and accounting services for businesses and they recently acquired Employer Advantage LLC a former PEO
  • Has been with the organization since 2006
  • 30+ years of experience processing payroll and payroll taxes for various companies and professions
  • Formerly a payroll tax/time and attendance specialist at Employer Advantage LLC
  • Worked for Joplin R-8 School District from 1990 to 1993
  • Worked as a Payroll Specialist at Missouri Southern State University from 1993 to March 2006
  • Certified Payroll Professional Certification in October 2006
  • Attended the International Tax Conference in Wisconsin in 2005 and specialized in International Tax for Student Visas
  • Bachelor’s degree in general business, MSSU; associate’s degree in Accounting, MSSU
  • Can be contacted at [email protected] or 417-782-3909 ext 148
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Over 35 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: 409423
Published 2021
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