IRS small business Videos - UPDATE:
Correcting Employment Taxes in 2009

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Transcript for Correcting Employment Taxes in 2009: Update

JEAN:
Hello, I'm Jean Wetzler and I'm talking with John Imhoff about changes in 2009 for employers who need to correct errors on employment taxes.
John, what are the changes for correcting employment taxes and why do our viewers need to know?


JOHN:
Effective January 1, 2009, corrections to Employment Tax returns are made via an "X" return, such as the Form 941X.
There are five new "X" forms for employers who need to correct errors on previously filed employment tax returns.
Many will be available in Spanish as well.
These new forms replace the Form 941c, and can be filed as soon as the need for a  correction is discovered.
Since these went into effect on January first, this is important information for all businesses with employees. 


JEAN:
Why did the IRS create this whole new set of forms and processes?


JOHN:
To make things easier for taxpayers and tax professionals.
The new "X" forms are easier to fill out, since they relate line-by-line with the originally filed return.
In addition, the adjustments are now applied directly to the tax period being corrected.


JEAN:
Can these new forms be electronically filed?


JOHN:
No, not yet.
Right now, the new "X" forms can only be filed using a paper return.
Mailing addresses are in the instructions for each form.


JEAN:
Where can our viewers get more information and details about this?


JOHN:
Our Web site, IRS.gov has more details.
Type "Correcting Employment Taxes" into the search box to find it.
And of course, all of the forms and their instructions can be found in the "Forms and Publications" section of our Web site.
Anyone with questions or comments about the new processes can send them to the IRS on e-mail.

The e-mail address is:
sbse.Form941c.redesign@irs.gov.

Again, that's
sbse.Form941c.redesign@irs.gov.


JEAN:
Thank you, John.
I've been talking with John Imhoff, of the IRS.
This is Jean Wetzler.

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