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Human Resource & Payroll

IRS Form 941 and Form W-2: File Your Amendments in 2022

Amending Your Form 941 and Form W2

August 01, 2022, is the deadline for filing your Form 941 Quarter 2. If you're an employer, you're responsible for filing the Quarterly Federal Tax Return to report the withholding, social security, and medical (FICA) taxes. Employers must file Form 941, even if they have no taxes to report. If you've made errors in the previous filings, now is the best time to amend your returns.


Amending tax returns is something no one can avoid no matter how many precautions you take. This training will provide you with details on how to amend employee W-2’s and quarterly 941 returns. You will learn what information to gather to properly file these amendments in addition to amendments for State and Local tax returns.


We 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 training will help payroll departments avoid penalties and time-consuming responses to follow-up questions from the IRS and other taxing jurisdictions.


Each type of tax return has a different way of filing an amendment. Join us on Compliance this July to learn about the most common returns that relate to your payroll taxes. Learn what further delaying the amendments could result in.



Types of Errors and Filing Your Amendments

We will go over in detail the different types of returns you may need to file amendments for. We will provide you with the samples of these forms along with the detailed websites of how to find more information.


There can be many different types of errors made on employee W-2’s. We will go into detail about these different items and what form is needed for each one. Also, who to send the amended forms and whether each one needs to be submitted to the SSA.


We will provide you with suggestions on how to file the amendments along with the tips for the best practices to keep you from having to file amendments, if at all possible.


What will You Learn?

-What amendments require a W-2C or a W-2 correction?
-Timing for filing amendments
-What forms can you use for the 941 corrections?
-What are the most common errors you're likely to make in the Form W-2?
-When to send in corrections to the Social Security Administration (SSA)?



Bonus Topics

-Underpayment corrections to 941
-Overpayment corrections to 941
-Overpayment of FICA Taxes



What's New?

-Common errors on Current W-2 forms
-Differences in W-2C and Corrected W-2
-941 Corrections
-Timing of filing these forms
-Statute of Limitations on corrections
-Corrections to Employee Name or Address
-Corrections to 940 Form
-Other Considerations



Why Should You Attend?

Paying employees is one of the biggest expenses for a company. Any company who has employees is required to withhold and pay payroll taxes.  In addition to what you withhold from an employee, there are tax forms that must be filed and given to the employee. The size of your business, where you are located, and where your employees live and work; all of these things factor into what you must withhold from employees’ wages and what you must pay in as an employer.  Understanding these things and knowing how much to withhold, how often to pay, and what forms to file, and what information to include is sometimes overwhelming.


No matter how much we double-check figures and try to make sure everything is correct on these forms before they are sent out there is always a time when an error is made or something was left out. We will discuss in detail how to amend the W-2 form and 941 forms. Details of how to make these amendments, and how quickly you must get them to the employee and the government agencies that are affected will be covered.


These types of changes also affect other government agencies such as State and Local forms. Making sure you are in compliance and completing all the necessary corrections in a timely manner is key. The IRS and State and Local Governments assess big fines and penalties if businesses do not record amendments properly and get them to employees timely. You want to avoid these liabilities as much as possible. This webinar will help you to better understand all types of situations that can cause you to amend these forms and how to make these amendments.



Who Will Benefit?

-Payroll Professionals
-Small Business Owners
-Tax Professionals

You may ask your Question directly to our expert during the Q&A session.


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