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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. Penalties are indexed for inflation and increase each year. Penalties are reduced when errors are corrected quickly. It is important for payroll professionals to understand the rules that reduce or mitigate penalties and to act within the time limitations for maximum benefit. Understanding how to compute and process corrections by correctly completing Form W-2c is an essential skill. Corrections to W-2 Forms frequently require that Form 941 also be corrected. Similarly, a correction to a prior year Form 941 may require that Prior year W-2 Forms also be corrected. It is important for payroll professionals to understand the relationship between Form 941 and the W-2 Forms and to know to correct errors on Form 941 and how to correctly prepare Form 941-X. 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.