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Karen1988
Level 1

reversing a 401K to company contribution

How do you fix a payroll check that  was entered as employee 401K (deferred salary)  to corrected Company Contribution?  The check has already been issued and the 941 taxes paid.  

Solved
Best answer January 08, 2021

Best Answers
jamespaul
QuickBooks Team

reversing a 401K to company contribution

Hello, Karen. 

 

I'll route to the team that can help you reverse a 401K and ensure your taxes are adjusted accordingly. 

 

Since the check was already issued and the 941 taxes have been paid, you'll want to contact our payroll support. QuickBooks Online Payroll doesn't support amended forms yet. Though, our support can help you correct the 401K contribution and adjust your 941 taxes correctly. 

 

Here's how to reach them:

 

  1. Click the Help menu. 
  2. Choose the Talk to a human option.
  3. When asked by the bot, type "Correct 401K but 941 taxes have been paid."
  4. Select I still need a human.
  5. Proceed with Contact us.
  6. Click Let’s talk, then choose either Get a call or Start messaging

 

qbocontactplaceholder1.PNG

 

If you need to submit the 941 corrections, you can use this form from the IRS: Form 941-X.

 

Need help working on your payroll taxes or employees? Our topics here can point you to the articles. They contain guides and pointers on handling payroll-related tasks. 

 

Feel free to visit the Community space again if you have other questions. My colleagues and I are ready to help you out. 

View solution in original post

1 Comment 1
jamespaul
QuickBooks Team

reversing a 401K to company contribution

Hello, Karen. 

 

I'll route to the team that can help you reverse a 401K and ensure your taxes are adjusted accordingly. 

 

Since the check was already issued and the 941 taxes have been paid, you'll want to contact our payroll support. QuickBooks Online Payroll doesn't support amended forms yet. Though, our support can help you correct the 401K contribution and adjust your 941 taxes correctly. 

 

Here's how to reach them:

 

  1. Click the Help menu. 
  2. Choose the Talk to a human option.
  3. When asked by the bot, type "Correct 401K but 941 taxes have been paid."
  4. Select I still need a human.
  5. Proceed with Contact us.
  6. Click Let’s talk, then choose either Get a call or Start messaging

 

qbocontactplaceholder1.PNG

 

If you need to submit the 941 corrections, you can use this form from the IRS: Form 941-X.

 

Need help working on your payroll taxes or employees? Our topics here can point you to the articles. They contain guides and pointers on handling payroll-related tasks. 

 

Feel free to visit the Community space again if you have other questions. My colleagues and I are ready to help you out. 

View solution in original post

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