What Is the Employer Deadline for W2 Forms?
Understand the critical timelines for W2 forms, employer obligations, and how to address common issues like late or incorrect statements for tax filing.
The W-2, or Wage and Tax Statement, is a federal tax document summarizing an employee’s annual earnings and the taxes withheld from their pay. It provides the necessary information for individuals to accurately report wages and reconcile tax obligations during income tax filing.
Employer Deadlines for W-2s
Employers must furnish copies of Form W-2 to their employees by January 31 of the year following the calendar year to which the W-2 relates. This deadline applies to both paper and electronic delivery.
In addition to providing W-2s to employees, employers must also file Copy A of Form W-2, along with Form W-3, Transmittal of Wage and Tax Statements, with the Social Security Administration (SSA). The deadline for filing these forms with the SSA is also January 31.
Employers can request a 30-day extension to file W-2 forms with the SSA by submitting Form 8809, Application for Extension of Time To File Information Returns. The request must be submitted by the original due date. This extension applies only to filing with the SSA and does not extend the deadline for furnishing W-2s to employees.
What to Do If You Don’t Receive Your W-2
If you have not received your Form W-2 by the end of January, contact your employer. Confirm your mailing address and inquire about when the W-2 was mailed or if it was issued electronically. Sometimes, a W-2 might be delayed in the mail or returned due to an incorrect address.
If you have contacted your employer and still have not received your W-2 by the end of February, you can contact the IRS for assistance. When calling the IRS, you will need to provide your name, address, Social Security number, phone number, and the dates you worked for the employer. You will also need to provide your employer’s name, address, and phone number. The IRS will then contact your employer and request the missing form.
If you still do not receive your W-2 in time to file your tax return by the April 15 deadline, you can use Form 4852, Substitute for Form W-2, Wage and Tax Statement. This form allows you to estimate your wages and withheld taxes using information from your pay stubs or earnings statements. Attaching Form 4852 to your tax return enables you to file without the official W-2, though there may be a delay in processing any refund while the information is verified.
How to Correct an Incorrect W-2
If you receive your Form W-2 and discover an error, such as an incorrect name, Social Security number, wage amount, or tax withheld, immediately contact your employer. Employers are responsible for issuing a corrected W-2 to address inaccuracies.
The employer will typically issue a corrected form, which is known as Form W-2c, Corrected Wage and Tax Statement. This form specifically indicates the changes made to the original W-2. Once you receive the W-2c, it replaces the original, incorrect W-2 for tax filing purposes. If you have already filed your tax return using the erroneous W-2, you may need to file an amended tax return using Form 1040-X, Amended U.S. Individual Income Tax Return, to reflect the corrected information.
Employer Penalties for Non-Compliance
Employers face various penalties for failing to comply with W-2 filing and furnishing requirements. Penalties can be assessed for not filing W-2 forms with the SSA by the deadline or for not providing them to employees on time. Additionally, penalties may apply for providing incorrect information on the W-2 forms.
The amount of the penalty can vary depending on how late the forms are filed or furnished and the size of the business. Penalties tend to increase the longer the forms remain unfiled or uncorrected. For instance, fines may be imposed per W-2 form, with higher penalties for intentional disregard of the filing requirements. These penalties are designed to ensure compliance and support the integrity of the tax system.