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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 for Forms W-2 and 941 and learn 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.

Runtime: 57 minutes
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Why Lorman?

Over 33 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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More Program Information

Why Lorman?

Over 33 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

MP3 Download

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

OnDemand Course

This course was last revised on September 22, 2020.

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

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

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More Program Information

Why Lorman?

Over 33 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

Employer Advantage

  • Payroll tax/time and attendance specialist at Employer Advantage since 2006
  • About Employer Advantage: Freedom to Succeed - Trusted more than 30 years, Employer Advantage frees business leaders from employee administrative and compliance burdens so they can focus on their business’s success
  • More than a software solution, we identify a company’s individual needs and culture to create strategic and very personalized plans for service
  • Our dedicated teams not only provide business leaders comprehensive management and resources, but give their employees top-notch assistance and benefits; our suite of services includes payroll, employment taxes, health and benefits, human resources, safety, workers’ compensation, OSHA, DOT, and more
  • 30+ years of experience processing payroll and payroll taxes for various different companies and professions
  • Builds databases and installs systems at locations across the U.S., Debbie has worked with Time America products since 2006 and Time Clock Plus since 2010
  • Began a partnership in June 2018 with Kronos and is accredited in their time and labor management system and advanced scheduler solutions
  • Payroll specialist at Missouri Southern State University, 1993-2006; attended the International Tax Conference in Wisconsin, 2005; specialized in international tax for student visa’s, Joplin R-8 School District, 1990-1993
  • Chapter president of the Joplin Chapter of the American Payroll Association, 2006-2012; chaired the committee for their annual seminar since 2006
  • Numerous awards from the APA for her volunteer service on the APA’s hotline and also for her service as chapter president
  • Published several articles in PayTech, a monthly magazine put out by the APA, currently the treasurer for the chapter
  • B.A. degree in general business, MSSU; associate's degree in accounting, MSSU; Certified Payroll Professional Certification
  • Can be contacted at 417-782-3909 ext. 148, [email protected] or www.EmployerAdvantage.com
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Why Lorman?

Over 33 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: 407766
Published 2020
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