FinanceRegs.com » One Accounting task just got easier (no, really)

One Accounting task just got easier (no, really)

May 28, 2008 by Carol Katarsky
Posted in: Hiring & training staff, In this week's e-newsletter, IRS regs, Latest news & views, Tax compliance

If you ever have to file a corrected employment tax return, IRS just made it a little easier.

IRS will release the new 94X series of forms in January of next year. Each version of the form will match up “line by line” with the tax return it corrects. Once the entire 94X series is out, you can use it to correct Forms 941, 943, 944 and 945. You’ll be able to use the forms for any errors discovered after Dec. 31, 2008.

Best of all: Each new form will stand alone, so you won’t have to attach it to your employment tax return. You can also send the “X” form as soon as you notice a mistake, instead of waiting until the new return is due.

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