Depositing and Reporting Withheld Taxes

New and Updated

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  FAQs

  Does an employer need an employee's consent to seek a refund of overwithheld FICA taxes due to a wage overpayment?

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  FAQs

  How should an employer recoup a wage overpayment from an employee if the repayment will be made in the same calendar year as the overpayment?

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  FAQs

  How should an employer recoup a wage overpayment from an employee if the repayment will be made in a subsequent calendar year?

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  FAQs

  What forms must an employer file to report a wage overpayment that is recouped in a subsequent calendar year?

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  FAQs

  What forms must an employee file with the IRS to correct a wage overpayment repaid in a subsequent calendar year?

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  FAQs

  Must an employer wait until an employee pays back the full amount of a wage overpayment via pay deductions spanning several years before filing Forms 941-X and W-2c?

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  FAQs

  Which department of a company is best suited to handle the recoupment of wage overpayments?

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  FAQs

  If an overpaid employee does not pay the employer back in the same year, should the employer give the employee a new Form W-2 showing less wages and taxes for that year?

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  FAQs

  What action should an employer take if an overpaid employee refuses to consent to the employer's request to seek a refund of the overpaid FICA taxes?

• Type:

  Employment Law Guide

  Depositing and Reporting Withheld Taxes: Virginia

  This guide provides compliance guidance for HR and payroll professionals in Virginia regarding income tax deposit thresholds, forms and due dates; electronic deposit requirements; annual reconciliation forms; Form W-2 filing requirements; penalties for late filing or payment of taxes; and data breach notification requirements.