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Form W-2c: the agony of errors

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in Centerpiece,Office Management,Payroll Management

The earlier you fix errors on your 2011 W-2s, the less likely it is you’ll be penalized by the IRS. E-filers have until the April 2 to file original W-2s (the due date for paper W-2s was Feb. 29), but even those few extra weeks may not be enough to get off the W-2c hook for mistakes that come to your attention after e-filing. Warning: The penalties for failing to file correct information returns have doubled.

Filing rules

Corrections to W-2s are reported to the Social Security Administration (SSA) on Form W-2c; Form W-3c is the transmittal.

W-2c forms may be filed on paper or electronically. E-filing is mandatory if you’re filing 250 or more W-2c forms; the first 249 forms can be filed on paper. Forms can be filed within 30 days of discovering the error, or held (i.e., bundled) and filed together. Bundled correction due date: Aug. 1, 2012.

The SSA’s web-based app—W-2c Online (see http://tinyurl.com/SSA-W2c-online)—allows you t...(register to read more)

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