What Is the Deadline for Employers to Send W-2s?
Understand the essential W-2 form, its critical deadlines, and what to do if you encounter issues, ensuring smooth tax preparation.
Form W-2, a Wage and Tax Statement, is an essential document employers provide to employees annually. It summarizes an individual’s wages and withheld taxes, including federal income, Social Security, and Medicare taxes. Employees rely on the W-2 form to prepare and file their federal and state income tax returns.
The Primary Deadline
Employers must send W-2 forms to employees by January 31st each year. This deadline ensures employees have sufficient time to prepare their tax returns, which are typically due by April 15th. If January 31st falls on a weekend or legal holiday, the deadline shifts to the next business day.
This deadline is important for both employers and employees. Employers can face penalties for late filings, while employees depend on timely receipt of W-2s to avoid delays in filing taxes and receiving refunds. The Internal Revenue Service (IRS) and the Social Security Administration (SSA) also receive copies of these forms to verify income and tax withholding.
Receiving Your W-2
Employees typically receive their W-2 forms through several methods. Employers mail physical copies or offer electronic delivery, which requires employee consent. Some employers provide secure online portals for access.
The W-2 form contains financial details for tax preparation. Box 1 reports total taxable wages, tips, and other compensation, while Box 2 shows total federal income tax withheld. Boxes 3 and 5 detail wages subject to Social Security and Medicare taxes, respectively, with Boxes 4 and 6 indicating the amounts withheld. The form also includes employer information, such as the Employer Identification Number (EIN), and employee details like their Social Security number and address.
If You Do Not Receive Your W-2
If you do not receive your W-2 form by the end of January, contact your employer’s human resources or payroll department. Confirm your mailing address and inquire about the W-2’s status, as it may have been returned due to an incorrect address. Allow time for your employer to resend or issue a new form.
If you still have not received your W-2 by the end of February, contact the IRS for assistance. When contacting the IRS, have your name, address, Social Security number, phone number, and dates of employment ready. You will also need your employer’s name, address, phone number, and, if available, their Employer Identification Number (EIN). The IRS may send you Form 4852, Substitute for Form W-2, which you can use to estimate your wages and withheld taxes for filing your return.
Correcting W-2 Errors
If you receive your W-2 form and discover an error, address it promptly. Contact your employer directly to report the inaccuracy. Employers are responsible for issuing a corrected W-2.
A corrected W-2 is issued on Form W-2c, Corrected Wage and Tax Statement. This form rectifies mistakes on the original W-2, such as incorrect names, Social Security numbers, or wage and tax amounts. If possible, wait to receive the W-2c before filing your tax return to ensure accuracy. If you have already filed your tax return with an incorrect W-2, you will need to file an amended tax return using Form 1040-X once you receive the corrected W-2c.