When Do Companies Send Out W-2 Forms?

A W-2 Form, formally known as the Wage and Tax Statement, serves as an official summary of an individual’s annual wages and the taxes withheld by their employer throughout the calendar year. This form is a critical component for accurately preparing and filing federal, state, and local income tax returns.

Understanding the W-2 Form

The W-2 form reports gross wages paid and the amounts of federal, state, and local taxes withheld. Employers are required to issue this statement to each employee, as well as to the Social Security Administration (SSA), which then shares the data with the Internal Revenue Service (IRS).

Key information is organized into various boxes on the W-2 form. Box 1 details total taxable wages, tips, and other compensation, while Box 2 indicates the amount of federal income tax withheld. Boxes 3 through 6 report Social Security and Medicare wages and the corresponding taxes withheld. Additionally, the form includes sections for reporting state and local wages, tips, taxes, and other relevant information specific to an employee’s locality.

Key Deadlines for Issuance

Employers must provide employees with their W-2 forms by January 31st of the year following the tax year. For example, W-2 forms for the 2024 tax year must be issued by January 31, 2025.

This deadline applies regardless of whether the form is mailed or provided electronically. If January 31st falls on a weekend or legal holiday, the deadline shifts to the next business day.

What to Do If You Don’t Receive Your W-2

If the January 31st deadline passes and you have not received your W-2 form, contact your employer’s payroll or human resources department. Confirm your mailing address on file and inquire about the status of your W-2, as it might simply be delayed in transit.

If your employer cannot provide the W-2 or resolve the issue promptly, typically by late February, you can contact the IRS for assistance. The IRS can reach out to your employer on your behalf to request the missing form. As a final option, if you still have not received your W-2 by the tax filing deadline, you may be able to use Form 4852, “Substitute for Form W-2, Wage and Tax Statement,” to estimate your wages and withheld taxes.

Correcting W-2 Errors

Sometimes, an employee receives a W-2 form that contains incorrect information, such as an inaccurate wage amount, an error in taxes withheld, or a misspelled name. When an error is identified, the first step is to contact your employer’s payroll or human resources department. Clearly explain the discrepancy and request a corrected W-2.

The employer will issue a Form W-2c, “Corrected Wage and Tax Statement,” to rectify the original error. This corrected form will show the accurate figures and replace the erroneous W-2. If you already filed your tax return using the incorrect W-2, you may need to file an amended tax return using Form 1040-X, “Amended U.S. Individual Income Tax Return,” once you receive the W-2c.