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Live Webinar

90-minute live streaming program
  • October 14
  • 1:00 - 2:30 pm EST

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OnDemand Webinar

Fundamentals of Form W2-C and Reporting Corrections

October 14

Take away valuable information to ensure you are handling this complex subject correctly in your own payroll shops.

This topic is designed for persons who are responsible for withholding, submitting, reporting and processing employee tax and informational returns and find themselves unable to handle the issues that arise when adjustments or corrections are necessary. This information will answer those tough questions of how-to, when-to and why.

Learning Objectives

  • You will be able to define the issues that cause the need to complete a Form W2-C.
  • You will be able to identify related issues that arise from correcting a Form W2 such as penalties and the correction of other forms.
  • You will be able to recognize any potential liabilities that could arise for the employee and the employer.
  • You will be able to review your current policies and procedures for accuracy and efficiency.

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Why Lorman?

Over 32 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

Purpose of Form W2-C
  • Recap of When It Is Appropriate to Issue a Form W2-C
    • Reasons to Issue a Form W2C and When We Would Not Issue a Form W2C
  • Recap of Time Limits of Issuing a Form W2-C
    • Three Year Limit of Issuing a W2C and the Significance of This Time Frame
Crosswalk of Corrections
  • Relationship of Forms W2-C, 941-X and Form 940
    • How the Three Forms Relate to One Another and Why All Three Forms Needs to Be Adjusted If an Adjustment Is Made to One
  • Brief Overview of How to Complete a Form W2-C, 941-X and Amended Form 940
    • How to Complete the Correction Forms and the Common Mistakes Made as Well as Do's and Don'ts
Impact of Related Forms (Form 941. Form 940 and Other Reporting)
  • Liability Adjustments
  • Penalties and Interest of Understated Deposits
  • Refunds of Overstated Deposits
    • The Impact of the Types of Corrections Made and How the Overstated/Understated Deposits May Result in a Penalty or Refund
    • How to Handle the Penalties and Requests for Refunds/Abatements
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Why Lorman?

Over 32 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 19, 2015.

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

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

Live Webinar Registration

  • AIPB 1.5
     
  • This program is acceptable for 1.5 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • CPP/FPC
     
  • Lorman Education Services is an approved provider through the American Payroll Association. This seminar is approved for 1.5 RCHs. PLEASE NOTE: To receive credit through the American Payroll Association for this program you MUST attend the program in its entirety and use the streaming option, as well as enable (and complete) the required progress checks.
     
  • HR Certification Institute 1.5
     
  • This program has been approved for 1.5 recertification credit hours toward general recertification through the HR Certification Institute. For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
     
  • 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.
     
  • CPE 1.8 including Taxes 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a 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: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 1.8 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure 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. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Taxation for 1.5 hours.
     

Who should attend?

This live webinar is designed for human resource managers, payroll professionals, personnel managers, benefits professionals, controllers and CFOs, accountants, business owners, and bookkeepers.

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More Program Information

Why Lorman?

Over 32 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

Veronica B. King, CPP, PB

Veronica B. King, CPP, PB

Pay-Pro Business and Consumer Resources

  • Owner of Pay-Pro Business and Consumer Resources, offering payroll consulting and services
  • Executive director of payroll and tax services at the Virginia Commonwealth University
  • Adjunct professor at Prince George‚Äôs Community College, offering the pay train Level 1 and Level 2 certification courses for the APA
  • Has been in the payroll profession since 1998
  • Worked with some of the top known companies as an employee, consultant or trainer such as Trader Publishing Company, The Johns Hopkins Health System, and the Department of the Defense
  • Obtained the American Payroll Association Certified Payroll Professional designation via self-study in 2004
  • B.S. degree in business management, Hampton University; M.S. degree in professional accounting/taxation emphasis, Strayer University
  • Can be contacted at 443-220-3242
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Why Lorman?

Over 32 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.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

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Product ID: 406376
Published 2015, 2019
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