Failure to properly amend corrected forms may result in additional penalties.
No one wants to have to amend tax forms but no matter how many precautions you take to avoid it, there will always be a time that you will need to do an amendment. If you’re correcting underreported tax, you must file Form 941-X by the due date of the return for the return period in which you discovered the error and paythe amount you owe by the time you file. This video reviews how to collect the information needed to complete Form 941.
Runtime: 7 minutes
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