By now, employees have received their Forms W-2, Wage and Tax Statement, are in the process of filing their federal, state and local tax returns, and may have identified some errors. That means this is also the time of year when payroll professionals have the most questions about how to prepare Forms W-2c, Corrected Wage and Tax Statement, under different scenarios.

Here to assist is Ernst & Young LLP's special report, Why, when and how to correct the 2019 Form W-2.

In this handy publication you can learn how to fix these common 2019 Form W-2 errors:

• Excess contributions to a Health Savings Account
• Excess contributions to a qualified retirement plan (e.g., 401(k))
• Excess contributions to a health flexible spending account
• Excess contributions to a dependent care assistance flexible spending account
• Missing or incorrect employee name or Social Security Number
• Error in employee and/or employer name or address
• Incorrect reduction in federal income tax withholding in connection with a gross-up after the close of the tax year
• Incorrect Employer Identification Number or tax year
• Error in Additional Medicare Tax or federal income tax withholding
• Excess Social Security tax withheld

You can also read about:

• Form W-2c mechanics
• Timing for correcting errors
• When small-dollar de minimis errors don't have to be corrected
• Penalties for filing late or incorrect Forms W-2
• Employer liability for tax preparation and other costs incurred by employees because of a Form W-2c
• Considerations when issuing a replacement Form W-2
• Other payroll tax returns affected by a Form W-2c

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EY Payroll News Flash

Correcting 2019 Form W-2 errors