• W2c and W3c
  • General Guidelines W2c- When to file and format.
  • Common problems with W2s and W2cs
  • New for 2024-2025: Electronic filing requirements and more.
  • General Instructions for W2c and W3c – Purpose and Format
  • Specific instructions for W2c 
    • Corrections
    • Backpay
    • Employee recommendations and information
    • Other corrections
    • Filing and Format
    • Box-by-box instructions
  • Specific instructions for W3c
    • Filing and Format
    • Box by Box instructions
• 941X
  • General Guidelines – Format and Filing
  • Common 941 problems – Incorrect entries. Penalty waivers
  • New for 2024-2025
    • Statute of limitations
    • Specific changes to the form
    • Covid-19 discontinuations
  • Reminders from IRS
    • Blank Lines
    • Small business credits
    • Other corrections
  • 941x specific instructions- Part by Part, Line by line.

Background:-

We all make mistakes. Conducting payroll is prone to them. As hard as we try to calculate paychecks, record information such as wages and deductions, deposit taxes, complete quarterly and yearly forms, etc – we all fall short. That is why the 941 x and W2c exist. However, there have been recent changes to the w2 and 941 filing requirements that have necessitated increased usage of these correcting forms.

Why Should You Attend?

The IRS requires employers to report wage and salary information for employees on Form W-2. Your W-2 also reports the amount of federal, state, and other taxes withheld from your paycheck. As an employee, the information on your W-2 is extremely important when preparing your tax return. 941 forms report wages paid and payroll taxes to the Federal Government. Sounds simple, doesn’t it?

There are 20 boxes on the W2, and 34 codes to use in box 12 alone. If your compensation structure includes benefits, is subject to FMLA, grants a myriad of cafeteria plan benefits, has employees who work in more than one state, etc…. this form is far from simple. There are changes most every year of one sort or another, and even the most well-maintained of payroll systems can miss some important edits. This can result in the forms being kicked back, which results in a penalty and interest assessed on EACH W2 filed late. Further, if what’s on them doesn’t match your employees’ tax returns, they face penalties and even audits. Because no payroll system runs perfectly, reconciliation and corrections of W2 information are crucial.

941s have their own complexities. Correct payroll information doesn’t come in timely, resulting in incorrect paychecks. If done so in prior quarters, you must file 941x forms for those quarters. There have been recent changes to COVID-19 tax credits and others, resulting in critical changes to the 2024 Forms and beyond.

So join Mark Schwartz in this informative webinar – and you will be able to accurately complete these critical correction forms – you may even be able to avoid penalties!

Who Will Benefit?

• Auditors
• Payroll Managers and Staff
• Dept or Functional Managers
• Accountants and Finance Personnel
• Executives
• Hiring and other HR personnel,