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OnDemand Course

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.

Learning Objectives

  • You will be able to identify the statute of limitations.
  • You will be able to recognize the requirements for filing 940-c
  • You will be able to recognize the requirements for filing W-2 corrections.
  • You will be able to recognize requirements for making corrections to state forms.

57 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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More Program Information

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 April 16, 2021.

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

  • CPE/NASBA - QAS Self Study 1.6 including Specialized Knowledge 1.6
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.6 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Specialized Knowledge for 1.6 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
     
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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
  • Formerly a Payroll Tax/Time and Attendance Specialist at Employer Advantage LLC
  • 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
  • Certified Payroll Professional Certification in October 2006
  • 30+ years of experience processing payroll and payroll taxes for various different companies and professions
  • Worked as a Payroll Specialist at Missouri Southern State University from 1993 to March 2006
  • Attended the International Tax Conference in Wisconsin in 2005 and specialized in International Tax for Student Visa’s
  • Worked for Joplin R-8 School District from 1990 to 1993
  • 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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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.

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Product ID: 408982
Published 2021
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