Correcting W-2s and 941 Forms

In this 75-minute online training, learn how to:

Identify W-2 mistakes and fix them.
Quick action can head off penalties and a career black eye.
Make interest-free adjustments to Form 941-X.
Mistakes on your 941s don’t need to cost a penny.
Use 941-X to claim long-expired payroll tax credits.
The tax credits have expired; learn how to claim them still.

In payroll, mistakes on W-2s or 941s can add up quickly and dent your reputation.

Even in the most efficient payroll departments, mistakes occur. When this happens on your W-2s, it’s important to make corrections as soon as possible. The earlier you file Form W-2c to fix errors on your 2021 W-2s, the less likely you’ll be penalized by the IRS. But what’s the best way to handle these form amendments?

On February 3, learn the ins and outs of payroll corrections on Forms W-2c and 941-X. In this new online training, discover the most common mistakes that employers are making with 2021 W-2s, how to quickly and legally correct errors, and one step to avoid these mistakes altogether.

Remember, if you’re wrapping up your 2021 W-2s, don’t relax and put the task aside until next year. Now is the perfect time to review for errors, make quick fixes, and avoid the added penalties down the road. If you don’t fix your mistakes until after your employees have filed their 1040s, they’ll need to file amended 1040s, and they won’t be happy.

Agenda for Correcting W-2s and 941 Forms

Line-by-line advice for completing and filing Form 941-X and W-2c, and how these two forms work together.
What can be corrected. Not every mistake can be corrected on a W-2c.
Minimize the fallout with employees by knowing what to tell them about their Form W-2c.
When to file specific forms. Usually Forms W-2c and 941-X are filed to correct the same error. But not always.
Resolve reimbursements with employees. 3 steps to reimburse employees for overwithheld FICA taxes.
Don’t leave money on the table. Learn how to use Form 941-X to claim even expired payroll tax credits.
The two big 941 mistakes that will invariably get you in trouble with the IRS.
Understand the filing deadlines. The longer you wait to file Form W-2c, the more expensive it becomes. The time is ticking for Form 941-X, too.
Balance W-2s and 941s. There are two balancing acts: W-2s with W-3s and W-2s with 941s.

Interactive Q&A time included

Get answers to your specific questions about correcting W-2s and 941s during the Q&A session.

Alice Gilman, Esq., is an expert in payroll and tax compliance who has covered payroll issues for more than 26 years. She's written and edited several leading payroll publications, including Payroll Legal Alert, the Research Institute of America's Payroll Guide, the American Payroll Association's Basic Guide to Payroll and the Payroll Manager's Letter.

Alice Gilman esquire and author

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