text: The IRS does not have any way to correct a 941 that has not yet been filed. When you receive your notice that your payment was late, you can provide them with the explanation you have given above and ask them to waive the penalty for reasonable cause. (They have authority to waive penalties, but they cannot waive interest that is due, so you will have to pay interest if it is charged.) I would attach a statement to the 941 when you file it with the whole explanation. They will probable not read it or act on it at the time it is received, but it is something you can point out when you appeal the penalty later.\n\nRamsGod did not read your info completely. You stated that you have already made up the missed payment for the corporation and will use up the overpayment on the other company before quarter -end.\n\nAn alternative, if you really want it, is to get power-of-attorney forms (form 2848) signed by an authorized officer of each corporation and submitted to the IRS for these 2 companies for the 941 reports. Then you can call them and get the amount that was applied to the wrong company transferred to the correct company. It's more work, but this way neither company will show up as delinquent.