When Is the W-2 Deadline for Employers and Employees?
Navigate W-2 deadlines with ease. Understand when employers issue and employees receive these crucial tax forms, and what to do if delays occur.
The Form W-2 is a document that summarizes an individual’s annual earnings and the taxes withheld from their pay. This form is essential for both employees and employers. Employees rely on the W-2 to prepare and file their tax returns. Employers use the W-2 for reporting wages and withheld taxes to the Social Security Administration (SSA) and the Internal Revenue Service (IRS).
Employer Responsibilities and Deadlines
Employers have specific obligations regarding W-2 forms. The federal deadline for employers to provide W-2 forms to their employees is January 31st of the year following the tax year. This deadline applies whether the forms are delivered physically by mail or electronically. Employers must ensure that mailed forms are postmarked by January 31st to meet this requirement.
Employers must also file copies of these forms with the Social Security Administration. This federal filing deadline is also January 31st, regardless of whether submitted by mail or electronically. The IRS encourages electronic filing as it is often faster and more secure.
Many states have their own W-2 filing deadlines, often aligning with the federal January 31st deadline. However, state-specific requirements can differ, so employers must verify deadlines and submission methods for each state they operate in. Adhering to both federal and state deadlines is necessary for compliance.
Receiving Your W-2
Employees expect to receive their W-2 form by January 31st each year. This allows time to file their tax returns by April 15th. The W-2 details total wages, federal, state, and local taxes withheld, and contributions to Social Security and Medicare, which is important for accurate tax preparation.
W-2 forms can be delivered through various methods. Many employees receive their forms via postal mail to their last known address. Increasingly, employers provide access to W-2s through secure online portals. Some tax preparation services or payroll providers may also offer electronic access to these documents.
Employees must obtain their W-2 forms to accurately report income and withheld taxes when filing tax returns. The information on the W-2 directly transfers to federal income tax forms, such as Form 1040. Discrepancies or missing information on a W-2 can lead to issues with tax filings and potentially delay any refunds.
Addressing Missing W-2s or Employer Delays
If an employee does not receive their W-2 by the expected date, typically by mid-February, first contact the employer directly. Inquire about the W-2’s status, verify the mailing address, and ask if the form is available through an online portal.
If the employer does not provide the W-2 after February 14th, employees can contact the IRS for assistance. The IRS may then contact the employer to request the missing form. As a last resort, if the W-2 is still not received, employees can use IRS Form 4852, “Substitute for Form W-2, Wage and Tax Statement.” This form allows employees to estimate wages and withheld taxes based on pay stubs or bank records for tax filing.
Employers who fail to furnish W-2 forms to employees or file them with the Social Security Administration by the deadlines can face penalties. These penalties vary depending on how late the forms are and can accumulate for each W-2. Penalties for late filing can range from approximately $60 to $660 per form, with higher fines for intentional disregard of filing requirements.
If employers anticipate a delay in filing W-2 forms with the SSA, they may request an extension by submitting IRS Form 8809, “Application for Extension of Time To File Information Returns.” This form typically grants a 30-day extension to file with the SSA. An approved extension to file W-2s with the SSA does not extend the deadline for furnishing these forms to employees.