When Are W-2 Forms Due? Key Deadlines to Know
Navigate W-2 form deadlines, understand employer obligations, and know employee actions for timely tax filing.
Form W-2, also known as the Wage and Tax Statement, is a document that employers provide to their employees and the Internal Revenue Service (IRS) annually. It serves as a comprehensive record of an individual’s yearly earnings and the taxes withheld from their paychecks. This form is a foundational document for employees when preparing and filing their federal and state income tax returns.
Employer Deadlines for W-2 Forms
Employers must meet specific deadlines for furnishing W-2 forms to employees and filing them with the Social Security Administration (SSA). The primary deadline for both providing employees with their W-2 and submitting Copy A of the W-2 along with Form W-3 (Transmittal of Wage and Tax Statements) to the SSA is January 31 of the calendar year following the tax year. This deadline applies universally, regardless of whether the forms are sent electronically or by mail. If January 31 falls on a weekend or a legal holiday, the deadline shifts to the next business day. This adjustment ensures that employers have a regular business day to complete their obligations.
Employee Expectations and Actions
Employees can anticipate receiving their W-2 forms by January 31 each year. This allows time to prepare their income tax returns before the federal filing deadline. However, if a W-2 form is not received by this date, employees should take several steps to obtain it.
The initial action involves contacting the employer directly to inquire about the missing W-2 and confirm the mailing address on file. If efforts with the employer are unsuccessful, the next step is to contact the IRS for assistance.
When contacting the IRS, employees should be prepared to provide specific information. This includes:
Their name, address, phone number, and Social Security number.
The employer’s name, address, phone number, and Employer Identification Number (EIN) if known.
The dates of employment.
An estimate of wages earned and federal income tax withheld.
If the W-2 is still not received, employees may use Form 4852, Substitute for Form W-2, Wage and Tax Statement, to file their tax return. This form allows taxpayers to estimate their wages and withheld taxes. It is important to note that tax returns filed with Form 4852 cannot typically be e-filed and usually require a paper submission.
Penalties for Late W-2 Forms
Employers face a tiered penalty structure for failing to furnish W-2 forms to employees or file them with the SSA by the established deadlines. Penalties vary based on how late the forms are provided or filed. Penalties for incorrect or late W-2s start at $60 per form if corrected within 30 days of the due date.
The penalty increases to $120 or $130 per form if filed more than 30 days late but by August 1. If forms are filed after August 1 or not at all, the penalty rises to $310 or $340 per form. These penalties are assessed per W-2, meaning that for businesses with multiple employees, the cumulative fines can become substantial.
Higher penalties apply for intentional disregard of filing requirements. This penalty can be $630 or $660 per form, with no maximum limit. Intentional disregard refers to a knowing or willful failure to meet the filing obligations. The IRS may also impose penalties for incorrect information on W-2 forms, even if filed on time.