Amending W-2’s and 941’s in 2023
Amending tax returns is something no one can avoid no matter how many precautions you take. Join us to learn how to amend 2023 employee W-2’s and 2nd quarter 941 returns. You will also 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. We 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 course 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 this July to learn the details on the most common returns that relate to payroll taxes. You will learn in detail the different types of returns you may need to file amendments for. We will also provide you with samples of these forms along with detailed websites of how to find more information.
There can be many different types of errors made on employee W-2’s. We will also go in detail of 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 of how to file the amendments along with tips for best practices to keep from having to file amendments if at all possible.
What You will Learn
-What amendments require a W-2C or a W-2 correction
-Timing for filing amendments
-What forms to use for 941 corrections
-Common errors for W-2’s
-When to send in corrections to the SSA
-Underpayment corrections to 941
-Overpayment corrections to 941
-Overpayment of FICA Taxes
-Common errors on Current W-2 forms
-Differences in W-2C and Corrected W-2
-Timing of filing these forms
-Statue of Limitations on corrections
-Corrections to Employee Name or Address
-Corrections to 940 Form
Why You Should 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, where your employees live and work; all of these things factor into what you must withhold from employee’s 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 of how to amend the 2023 W-2 form and quarterly 941 forms. Details of how to make these amendments, 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 matter 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 employee 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
-Small Business Owners
Debbie Cash, CPP is a Business Analyst-Implementation at G&A Partners. She collaborates with Clatid Compliance to provide trainings on payroll and human resources. She was 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. She has been with the organization since 2006.
Debbie earned an associate's degree in Accounting from MSSU in 1985 and a bachelor's degree in General Business from MSSU in 2006. She obtained her Certified Payroll Professional Certification in October 2006. She has 30+ years of experience processing payroll and payroll taxes for various different companies and professions.
Debbie worked as a Payroll Specialist at Missouri Southern State University from 1993 to March 2006. She attended the International Tax Conference in Wisconsin in 2005 and specialized in International Tax for Student Visa’s. She also worked for Joplin R-8 School District from 1990 to 1993.
Clatid 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: www.nasbaregistry.org.
Clatid is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.0 PDCs for the SHRM-CPSM or SHRM-SCPSM. For more information about certification or recertification, please visit - portal.shrm.org.
This webinar has been approved for 1.0 HR (General) re-certification credit hours toward California, GPHR, HRBP, HRMP, PHR, and SPHR recertification through the HR Certification Institute.
The use of this seal is not an endorsement by the HR Certification Institute of the quality of the activity. It means that this activity has met the HR Certification Institute’s criteria to be pre-approved for re-certification credit.
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