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Mistakes can occur in even the most efficient and knowledgeable payroll departments. And when this does happen corrections need to be made as soon as the error is discovered. But how are these corrections to mistakes handled? In past webinars we discussed what must be done when mistakes are made on the employee’s pay check such as over or underpayments. But what about the quarterly and year end reports payroll is responsible for? If a mistake has been made on the employee’s wages doesn’t the correction to it need to be reflected in the quarterly or year-end forms? Indeed, it does!
In this webinar we will discuss how to correct the Form 941 when an error has been discovered after it has been filed. We will examine when to use the Form W-2c to correct the employee’s year-end information after the Form W-2 has been given to the employee as well as before and after the form has been filed with the Social Security Administration. And we will review how to file an amended return for the Form 940.
