Mastering Payroll Tax Amendments: Correcting W-2s, 941s, and More

Gain step-by-step guidance on handling common payroll errors and ensuring accurate tax filings to avoid penalties and maintain compliance

Mistakes are inevitable, even in the best-run payroll departments. This comprehensive session, led by Debbie Cash, CPP, will provide you with the knowledge and tools to effectively handle payroll tax amendments. From correcting errors on employee W-2 forms to amending quarterly Form 941 filings, you’ll gain step-by-step guidance on ensuring accurate and compliant corrections. This session will help you minimize risks, avoid penalties, and maintain compliance with federal, state, and local regulations.

Errors on employee W-2 forms can vary widely, and addressing them promptly and accurately is crucial for payroll compliance. This webinar will cover the most common mistakes found on W-2s and provide detailed instructions on how to make corrections for both current and prior tax years. You will also learn about compliance requirements when submitting these corrections to the Social Security Administration and gain strategies to avoid unnecessary penalties, interest, or additional taxes.

The session will also focus on amending quarterly Form 941 filings. Understanding how to identify discrepancies and file accurate amendments is essential to avoiding costly fines from the IRS. Debbie will provide practical tips for addressing these errors efficiently, as well as proactive measures to ensure accurate reporting going forward.

Amending state and local tax returns often involves navigating complex and varied requirements. This session will provide guidance on understanding these differences, where and how to submit amended forms, and how to stay compliant with state and local tax agencies. You’ll gain actionable insights to streamline the process and avoid compliance challenges at the state level.

Finally, this session will conclude with best practices for minimizing the need for future amendments. You’ll learn preventative measures, including maintaining efficient recordkeeping practices and implementing tools to reduce payroll errors. Real-world scenarios will illustrate common challenges and solutions, while a Q&A segment will allow you to address your specific concerns directly with the expert.

By attending this session, you’ll leave with a clear understanding of payroll amendment processes and the confidence to manage corrections effectively. Equip your payroll team with the skills and knowledge to avoid compliance risks and streamline tax filing processes.

Webinar Objectives

Paying employees is one of the largest expenses for any company, and understanding payroll tax compliance is essential for avoiding costly mistakes. This session will equip you with the knowledge to navigate the complexities of payroll taxes, withholding requirements, and employer responsibilities.

You’ll learn:

• How to Withhold and Pay Correctly: Understand the factors that affect payroll taxes, including business size, location, and where employees live and work.
• Key Filing Responsibilities: Discover which forms to file, when to file them, and what information to include to stay compliant.
• Amending Errors: Learn the step-by-step process to amend W-2 and 941 forms, including how to notify employees and government agencies.

Errors in payroll reporting can impact state and local filings, and failure to amend forms correctly or on time can lead to significant penalties. We’ll cover:

• Timely Compliance: Understand timelines for making corrections to avoid fines from the IRS and state/local governments.
• Common Triggers for Amendments: Explore real-world examples of errors and how to handle them effectively.

This webinar is designed to simplify payroll tax complexities and give you actionable strategies to reduce liabilities and stay compliant with federal, state, and local requirements.

Webinar Agenda

• 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

Webinar Highlights

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

Who Should Attend

Payroll Professionals, Small Business Owners, Bookkeepers, Managers, Tax Professionals