Webinar: Payroll: W-2/W-3 Correction Basics When: Tuesday Apr 27, 2021 - 01:00 PM EST Duration: 90 Minutes
A major task of the Payroll department is providing W-2 Forms to employees and to the Social Security Administration. The Forms must be correct, complete, and filed on time or the employer may face stiff penalties. The due date for both filing form W- with the Social Security Administration and for Furnishing the Forms to employees are January 31. Penalties are indexed for inflation and increase each year. Penalties are reduced when errors are corrected quickly.
This webinar will discuss the common and not-so-common errors and adjustments that affect Forms W-2 and actions you can take now to reduce or prevent filing problems and errors, special reporting situations, and what to do when errors are discovered. It will also cover the changes under the new filing deadlines.
Why Should You Attend:
Penalties for late filing or filing incorrect W-2 Forms are on the rise. In addition, penalties for incorrect information of Form 941 can also be costly. This webinar will discuss methods for avoiding or correcting errors on Forms 941 and W-2 with a focus on how to make corrections where required so those penalties are eliminated or minimized. The webinar will also discuss how to properly prepare and file Forms 941-X and W-2c correctly and how and when to file the corrections. Updates to Forms 941 and 941-X as well as correcting COVID-19 tax credits and tax deferrals will be covered:
You will be able to describe the appropriate circumstances requiring that You issue a Form W-2C or Form 941-X
You will be able to discuss the corrected W-2 with your employee
You will be able to explain the necessary changes required to your supervisor
You will be able to identify which tax forms need to be amended
You will know the deadlines for minimizing penalties on late or incorrect W-2 Forms
You will know when to file Form 941-X to make interest free adjustments
Areas Covered in the Webinar:
Statute of Limitations to Correct Forms
Timing to Provide Forms to Individuals and Submit to SSA
Which Forms to Use
Correcting Errors using Current Forms
W-2/W-3 Correction Basics
Issue a W-2C or a Corrected W-2
Timing to Furnish to Individuals and Report to SSA
Correcting Common Errors for Prior Year Forms
Correcting the Employee's Name
Correcting Employee's Address
Correcting Multiple W-2 Forms for an Employee
Correcting Entries in Box 12
Who Will Benefit:
Payroll Supervisors and Personnel
Payroll Consultants
Payroll Service Providers
Public Accountants
Internal Auditors
Tax Compliance Officers
Enrolled Agents
Employee Benefits Administrators
Officers and Managers with Payroll or Tax Compliance Oversight
Company / Business Owners
Visit website for register webinar
Contact Person : SAM
+1 3156320735