When Do Companies Have to Send W-2s?
When do companies send W-2s? Understand employer obligations and what to do if your wage and tax statement is late or incorrect.
A W-2, or Wage and Tax Statement, is a federal tax form employers are required to issue to each employee and to the Social Security Administration (SSA) annually. This document details an employee’s gross wages, tips, and other compensation, along with the federal, state, and local income taxes, Social Security, and Medicare taxes withheld throughout the year. The W-2 form is a document for employees to accurately prepare and file their personal income tax returns with the Internal Revenue Service (IRS) and relevant state tax agencies. For the IRS, it serves as a way to verify reported income and withheld taxes, ensuring compliance with tax obligations.
Standard W-2 Delivery Deadline
Employers must furnish W-2 forms to their employees by January 31st of the year following the tax year. This deadline applies universally, regardless of whether the employee is still working for the company or if their employment ended during the prior year. If January 31st falls on a weekend or a legal holiday, the deadline is automatically extended to the next business day. While the federal deadline is consistent, some states may have their own deadlines for employers to submit W-2 data to state tax authorities, with many aligning with the federal January 31st date, though some might differ. The requirement for employers to furnish W-2 statements by January 31st is outlined in federal regulations, 26 CFR 31.6051-1.
Situations Affecting W-2 Delivery
Specific circumstances can influence when and how W-2 forms are delivered. If an employee’s employment is terminated before the end of the calendar year, the employer still has until January 31st of the following year to issue the W-2. However, if the former employee requests their W-2 sooner, the employer is obligated to provide it within 30 days of the request or 30 days from the final wage payment, whichever date is later.
When an error is discovered on a previously issued W-2, employers must issue a corrected W-2, known as Form W-2c. There is no specific deadline for issuing a W-2c, but employers should do so as soon as possible after discovering the mistake to ensure accurate tax reporting. Common reasons for a corrected W-2 include errors in reported wages, withheld taxes, or employee information like a Social Security Number.
Employers can deliver W-2 forms electronically, but this method requires explicit employee consent. Employees must agree to receive their W-2 electronically, and the employer must provide information about the necessary hardware and software to access the form. If an employee does not provide consent, or if they withdraw their consent, the employer remains obligated to provide a paper copy of the W-2.
Employee Steps If W-2 Is Not Received Or Is Incorrect
If a W-2 form is not received by the January 31st deadline, or if it contains incorrect information, an employee should first contact their employer’s payroll or human resources department. It is advisable to inquire about the status of the W-2 or request a correction, confirming that the employer has the correct mailing address on file.
If attempts to obtain the W-2 directly from the employer are unsuccessful, or if the employer does not provide a corrected form by the end of February, the employee can contact the IRS for assistance. When contacting the IRS, the employee should be prepared to provide their personal information, the employer’s name, address, Employer Identification Number (EIN), and the dates of employment. An estimate of wages earned and federal income tax withheld, ideally based on final pay stubs, will also be helpful. The IRS may then contact the employer to request the missing or corrected W-2.
As a last resort, if the tax filing deadline approaches and the W-2 is still unavailable, an employee can use Form 4852, “Substitute for Form W-2, Wage and Tax Statement.” This form allows an employee to estimate their wages and withheld taxes using information from pay stubs or other financial records. Form 4852 should be attached to the tax return, and an explanation of the efforts made to obtain the actual W-2 must be provided. Filing with Form 4852 may delay any tax refund, as the information will need to be verified.