1. Home
  2. Taxes General Forum
  3. correction to 941

correction to 941

We use software to prepare our client's 941 forms. In all the rush of tax season we forgot to update the software. We just noticed TODAY--April 21--that all the 941s we have done so far have 2005 printed on them instead of 2006. I have two questions.

Question one: if we are sending in these forms in April

2006, is it really going to make a difference if the form itself says 2005 if it says first quarter? Question two: what would be our best way to correct this? We estimate that about 30+ clients have already mailed in their 941s. And a second part to that question would be if we send a correction, could we send all of them together?
> > > > > > >
Reply to
clj1219
Loading thread data ...

If IRS processes it as 2005, and if first quarter 2005 filed, it will reject. Then they analyze it. If the clients made deposit payments, they should match up between the return and the account for 1st quarter 2006. The IRS should then deduce the error and process it correctly. Beyond possible t/p contact, the only only scenario is their considering it an amended 2005, in which case a notice will go out. Then you contact IRS and ask them to fix it. Fred F.

Reply to
TxSrv

Here is a GOOD reason to also fill out that section about "May the IRS contact... so and so about the return?"

IF you did this, There's no harm in contacting the IRS practitioner hotline, outlining your problem to them, and ask them to contact you about it. Quite possible they can take corrective action there without any amendments. As for those not yet filed, just take a magic marker something like that, and change the year above to 2006. Good to hear from you again, Carol.

ChEAr$, Harlan

Reply to
Harlan Lunsford

considering our recent problems with the IRS, that doesn't make me feel any better. Not related to the 941 forms, we sent in approximately 67 corporate extensions on March 15. Since Friday around noon, we have contacted (or been contacted by) about 60 of them to discuss the notice they received in regards to late extension requests. Seems as though the IRS thought the extensions were mailed on March 22 instead of March 15 and denied the requests. However, being an accounting practice, we still had the receipt for mailing them. It was dated, of all things, March 15! Fortunately, the vast majority of our clients do make their tax deposits on time and they will match up to the amounts due each month. The only one or two who won't will be those who make the deposits with the 941.

Reply to
clj1219

We don't do that, but I certainly agree that it would be a very good reason to do so.

We did that on the ones we did today and evern just went online and did a few the other day using the 2006 form. So, how was your tax season, Harlan? Ours was, well....interesting.

Reply to
clj1219

BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.