When Are W-2s Due to Employees and What Happens If Late?
Navigate W-2 deadlines: know when forms are due, what to do if yours is late, and the implications for employers.
A Form W-2, also known as a Wage and Tax Statement, is an annual document employers must provide to their employees and the Internal Revenue Service (IRS). This form details an employee’s total wages, federal, state, and local taxes withheld, and other compensation for the previous calendar year. It serves as a record for individuals to accurately file their income tax returns and helps the IRS verify reported income and for the Social Security Administration (SSA) to track earnings for future benefits.
The Standard Deadline for W-2s
Employers are required to furnish Form W-2 to their employees by January 31st of the year following the tax year. For example, W-2s for the 2024 tax year are due to employees by January 31, 2025. This deadline applies regardless of whether the employee’s individual tax filing deadline falls later in the year. If January 31st falls on a weekend or legal holiday, the deadline shifts to the next business day.
Employers can provide W-2s to employees through various methods, including postal mail or electronic delivery. For electronic delivery, employees must provide their consent beforehand. Accurate and up-to-date address information is important for timely delivery, especially if the employee has moved. Employers also have the same January 31st deadline to submit Copy A of the W-2 forms, along with Form W-3 (Transmittal of Wage and Tax Statements), to the Social Security Administration.
Actions If a W-2 Is Not Received
If an employee has not received their W-2 by the standard January 31st deadline, the initial step is to contact the employer directly. It is advisable to confirm the mailing address and inquire about the method and date the W-2 was sent. Employers may have sent the form, and a delay could be due to postal service transit or an incorrect address on file.
If the employer does not respond or fails to provide the W-2 after a reasonable waiting period, typically by mid-February, the next step is to contact the IRS for assistance. When contacting the IRS at 1-800-829-1040, individuals should be prepared to provide their name, address, Social Security number, phone number, and dates of employment. They will also need to provide the employer’s name, address, and phone number, along with an estimate of wages earned and federal income tax withheld. The IRS will then contact the employer to request the missing form.
Should the W-2 still not be received in time to file a tax return, individuals can use Form 4852, Substitute for Form W-2, Wage and Tax Statement. This form allows taxpayers to estimate their wages and withheld taxes using information from their last pay stub or other year-end statements. Form 4852 is attached to the tax return, and while it allows for timely filing, it may cause a delay in processing any refund due while the IRS verifies the information.
Employer Considerations for W-2 Deadlines
Filing with the SSA is typically done along with Form W-3, which acts as a transmittal form summarizing all W-2s being submitted. Electronic filing is available and often recommended for its speed and security.
If an employer anticipates difficulty meeting the SSA filing deadline, they can request an automatic 30-day extension by filing Form 8809, Application for Extension of Time to File Information Returns. This extension, however, does not extend the deadline for furnishing W-2s to employees. Extensions for W-2s are not automatic and are typically granted only under specific, extraordinary circumstances, such as a natural disaster affecting operations.
Employers face various penalties for failing to file or furnish W-2s on time, or for filing incorrect forms. Penalties can range from $60 to $680 per form, depending on how late the forms are submitted and whether the failure was due to intentional disregard. Penalties for incorrect information on W-2s, such as wrong names, Social Security numbers, or wage amounts, can also be assessed. These penalties are applied per form, meaning they can accumulate significantly for businesses with multiple employees.