The Internal Revenue Service is reminding employers that the deadline for
filing employee Forms
W-2, Wage and Tax Statement, for calendar year 2017 is Jan. 31, 2018. This
includes Forms
W-3, Transmittal of Wage and Tax Statements.
In addition, reporting payments to contract workers on Form
1099-MISC (box 7, nonemployee compensation) must also be filed by Jan. 31.
Employers must file Form W-2 showing the wages paid and taxes withheld for
the year for each employee with the Social Security Administration. The due
date applies to both e-filed and paper filed W-2s. The Jan. 31 deadline began
last year as part of the Protecting Americans Against Tax Hikes (PATH) Act
legislation to combat identity theft and refund fraud.
The Social Security Administration encourages all employers to e-file their
Forms W-2 by using its Business
Services Online. The online filing checklist
provides a step-by-step process for employers to file W-2s quickly and
securely. Employers are required to use e-file if they file 250 or more Forms
W-2 or W-2c, and failing to do so may incur a penalty. The IRS projects that
employers will file more than 250 million Forms W-2 this year and that the vast
majority will be e-filed. E-filing can save time and effort and helps ensure
accuracy.
Employers that file Forms 1097, 1098, 1099 (except a Form 1099-MISC
reporting nonemployee compensation), 3921, 3922 or W-2G electronically, have an
extended filing due date with the IRS of April 2, 2018. However, the due date
for giving the recipient these forms generally remains Jan. 31.
No comments:
Post a Comment