IRS Letter 226-J: What You Need to Know

The IRS has begun the ACA Penalty Process for Tax Year 2015. If you have received an IRS Letter 226-J, you have 30 days from receipt of the letter to send your response. Reasonable extensions may be requested and it is best to do so as soon as you expect you will need the extra time.  Continue reading IRS Letter 226-J: What You Need to Know

How to Correct Form W-2 Using Form W-2c

Form W-2 is used to provide wage information to employees, the SSA, the IRS, and state and local governments. Employees use these forms to file their individual tax returns. As such, it is important to provide the most accurate information when distributing these forms to their recipients. However, we’re only human, and sometimes we make mistakes. BoomTax offers e-filing for Form W-2c to correct Form W-2 errors.

What is Form W-2c?

Form W-2c (along with Form W-3c) is used to correct Form W-2, W-2AS, W-2CM, W-2GU, W-2VI, or W-2c.

Why would I need to correct Form W-2?

The IRS reports the following common Form W-2 errors:

  • Omitting the decimal point and cents from entries.
  • Making entries using ink that is too light.
  • Making entries that are too small or too large.
  • Adding dollar signs to the money-amount boxes.
  • Inappropriately checking the “Retirement plan” checkbox in Box 13.
  • Misformatting the employee’s name.
  • Entering the incorrect employer identification number (EIN) or the employee’s SSN for the EIN.

When should I file Form W-2c?

Form W-2c should be filed as soon as possible once an error has been discovered on the applicable Form W-2. A copy of the Form W-2c should also be supplied to the employee as soon as possible.

How do I complete and file Form W-2c?

BoomTax offers a streamlined way to complete and file your Form W-2c electronically. E-filing saves you time and effort and provides more accuracy than paper filing. Our step-by-step process guides you through completing the form with easy-to-understand language and helpful prompts along the way. Once you’re finished, submitting your Form W-2c is as simple as clicking a button! We’ll keep you updated with e-mails as your filing is processed.

For a more in-depth look at what information is needed for Form W-2c, take a look at our guide: Preparing Form W-2c.