Form 940 Issues (2023 Update)

My consulting company is organized as a C Corp with one employee, me. As such I file Forms 940 and 941.

Today I have two issues with my Forms 940.

First, after 20 years of filing the both of the forms on time, I discovered today that I failed to file Form 940 for 2020 in January of 2021. I did pay the tax at the end of 2020, so the penalty should be zero, but I'm still not sure how to proceed. The IRS has not dinged me about the form, perhaps because they are overloaded with other issues due to COVID.

Then, a second, more complex issue appeared. I use an online service to e-file my Forms 940 and 941. Today I e-filed my Form 941 for Q4 of

2021 and then e-filed my 2021 Form 940, or at least I thought I did. When I downloaded the completed Form 940 from the online services website, I saw it was for 2020!

So, I failed to file Form 940 for 2020, and now I have sent a Form 940 with my 2021 data to the IRS but it is marked 2020. What a mess.

The online service said only "we are trying to figure out what went wrong." Hopefully, they will, and soon.

Reply to
Victor Roberts
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It sounds like you have made a mistake in filing your Form 940 for 2020. The best course of action would be to contact the IRS and explain the situation to them. They may be able to assist you in correcting the mistake and avoiding any penalties. As for the second issue, you should also contact the online service and explain the situation to them as well. They may be able to help you correct the mistake and re-file the correct Form 940 for 2021. It is important to keep in mind that the IRS may have a record of the original filing, so it is important to act quickly to correct any mistakes and avoid any potential penalties

Reply to
Smart Bean

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