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Amending tax returns is something no one can avoid no matter how many precautions you take. In this training, you’ll get the details on how to amend employee W-2s and the 2nd quarter 941 returns. You will learn what information to gather to properly file these amendments in addition to amendments for State and Local tax returns in 2022.
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 webinar 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 Clatid to learn about the most common returns that relate to payroll taxes.
We will go over in detail the different types of returns you may need to file amendments for. We'll provide you with the samples of these forms along with detailed websites on how to find more information.
There can be many different types of errors made on employee W-2s. We will go into 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’ll provide the suggestions on how to file the amendments along with tips for the best practices to keep from having to file amendments if, at all, possible.
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 employees’ wages and what you must pay in as an employer. Understanding these things and knowing how much to withhold, how often to pay, 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’ll provide an in-depth review on how to amend the W-2 form and 941 forms. We’ll also cover the details on how to make these amendments, and how quickly you must get them to the employee and the government agencies that are affected.
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 employees timely. You want to avoid these liabilities as much as possible. This training will help you to better understand all types of situations that can cause you to amend these forms and how to make these amendments.
-What amendments require a W-2C or a W-2 correction
-Timing for filing amendments
-What forms to use for 941 corrections
-When to send in corrections to the SSA
-When to provide corrections to employees
-Underpayment corrections to 941
-Overpayment corrections to 941
-Overpayment of the FICA taxes
-Common errors on the 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
-Box 12 entry corrections
-Other considerations
-Payroll Professionals
-Small Business Owners
-Bookkeepers
-Managers
-Tax Professionals
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 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 portal.shrm.org.
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