When Must Employers Provide W-2 Forms?

The Form W-2, also known as the Wage and Tax Statement, is a key document for both employees and the Internal Revenue Service (IRS). This form is essential for individuals when preparing and filing their annual income tax returns. It summarizes an employee’s wages, tips, and other compensation, along with the amounts of federal, state, and local taxes withheld throughout the year.

W-2 Issuance Deadlines

Employers must provide Form W-2 to their employees by January 31st of the year following the tax year. For example, for the 2024 tax year, the W-2s must be issued by January 31, 2025. This deadline applies universally, regardless of whether an employee is still actively employed or has left the company during the tax year.

Employers typically send W-2 forms via mail or offer electronic delivery options, often requiring employee consent for the latter. The January 31st deadline also applies to employers who must file Copy A of the W-2 with the Social Security Administration (SSA), along with Form W-3, Transmittal of Wage and Tax Statements. Missing this deadline can lead to penalties for employers, potentially delaying an employee’s tax filing process.

Information Included on a W-2

A W-2 form contains information essential for tax reporting. It includes identifying details for both the employee and the employer, such as the employee’s Social Security number, name, and address, as well as the employer’s Employer Identification Number (EIN), name, and address.

Key financial information is also reported on the W-2. Box 1 shows the total taxable wages, tips, and other compensation, which includes salary, bonuses, and certain taxable fringe benefits. Box 2 indicates the federal income tax withheld from the employee’s paychecks during the year. The form also details Social Security wages (Box 3) and Social Security tax withheld (Box 4), as well as Medicare wages (Box 5) and Medicare tax withheld (Box 6). These amounts are important for calculating an individual’s tax liability and ensuring proper Social Security and Medicare contributions.

Steps if Your W-2 is Missing

If a W-2 form has not arrived by the January 31st deadline, first contact the employer’s payroll or human resources department. Confirm that the W-2 was sent to the correct mailing address or inquire about electronic delivery options. Many employers provide online portals where employees can access and download their W-2 forms.

If the employer is unresponsive or unable to provide the W-2 by late February, the next step is to contact the IRS directly at 800-829-1040. When contacting the IRS, be prepared to provide personal details such as name, address, Social Security number, and dates of employment, along with the employer’s name, address, and EIN if known. The IRS will then contact the employer on the employee’s behalf and can also send Form 4852, Substitute for Form W-2, Wage and Tax Statement.

Should the W-2 still be unavailable by the tax filing deadline, Form 4852 can be used to file the tax return. This form allows an individual to estimate their wages and tax withholdings based on available records, such as the last pay stub for the tax year. Be as accurate as possible when completing Form 4852, as discrepancies could lead to delays in processing the tax return.

Correcting an Incorrect W-2

Upon receiving a W-2 form, review it carefully for any errors in personal information or reported amounts. If an error is discovered, the employee should immediately contact their employer’s payroll or human resources department to request a correction. The employer is responsible for issuing a corrected Wage and Tax Statement.

When an employer corrects a W-2, they typically issue a Form W-2c, Corrected Wage and Tax Statement. This form specifically amends the original W-2, reflecting changes to details such as employee name or Social Security number, or adjustments to earnings and tax withholdings. The W-2c ensures that the corrected information is reported to both the employee and the IRS.

An incorrect W-2 can impact the accuracy of a filed tax return. If a tax return has already been filed using the erroneous W-2, receiving a corrected W-2c may necessitate filing an amended return using Form 1040-X, Amended U.S. Individual Income Tax Return. This form allows taxpayers to correct previously reported income, deductions, or credits. File an amended return if the corrected W-2 significantly changes the tax liability or refund amount.