Description
Avoid errors and costly penalties on incorrect tax forms by collecting pertinent information and amending them correctly.
No one wants to have to amend tax forms, but no matter how many precautions you take to avoid it, there will always be a time that you will need to do an amendment. The material in this course will teach you how to collect the information needed to complete W2 corrections and file the amended 941 forms and any additional state and local tax filings. The content will discuss specific types of errors found on form W2 and provide guidance of how to make the necessary corrections. The topic will provide information on amending 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 topic will help payroll departments avoid penalties and time consuming responses to follow up questions from the IRS and other taxing jurisdictions.
Date: 2023-06-02 Start Time: 1:00 PM ET End Time: 2:30 PM ET
Learning Objectives
* You will be able to recognize when an amendment needs to be filed.
* You will be able to describe which fields to complete for the amendments.
* You will be able to identify what other amendment forms need to be filed.
* You will be able to review your documentation to properly file your amendments.