IRS Reminds Employers: Forms W-2, W-3 Some Forms 1099-MISC Due January 31

IRS Reminds Employers: Forms W-2, W-3 Some Forms 1099-MISC Due January 31

WASHINGTON ― The Internal Revenue Service is reminding employers that the deadline for filing employee Forms W-2, Wage and Tax Statement, for calendar year 2017 is January 31, 2018. This includes Forms W-3, Transmittal of Wage and Tax Statements.

In addition, reporting payments to contract workers on Form 1099-MISC (box 7, nonemployee compensation) must also be filed by January 31.

Employers must file Form W-2 showing the wages paid and taxes withheld for the year for each employee with the Social Security Administration. The due date applies to both e-filed and paper filed W-2s. The January 31 deadline began last year as part of the Protecting Americans Against Tax Hikes (PATH) Act legislation to combat identity theft and refund fraud.

The Social Security Administration encourages all employers to e-file their Forms W-2 by using its Business Services Online. The online filing checklist provides a step-by-step process for employers to file W-2s quickly and securely. Employers are required to use e-file if they file 250 or more Forms W-2 or W-2c, and failing to do so may incur a penalty. The IRS projects that employers will file more than 250 million Forms W-2 this year and that the vast majority will be e-filed. E-filing can save time and effort and helps ensure accuracy.

Employers that file Forms 1097, 1098, 1099 (except a Form 1099-MISC reporting nonemployee compensation), 3921, 3922 or W-2G electronically, have an extended filing due date with the IRS of April 2, 2018. However, the due date for giving the recipient these forms generally remains January 31.

Payroll Partners is committed to helping clients stay informed about payroll and human resource news, developments and current events. This article is intended to provide readers with general information on human resources matters. The article does not constitute, and should not be treated as professional advice regarding the use of any particular human resources practice. All efforts have been made to assure the accuracy of the information. Payroll Partners does not assume responsibility for any individual’s reliance upon the information provided in the article. Readers should independently verify all information before applying it to a particular fact situation, and should independently determine the impact of any particular human resources practice. If you are seeking human resources advice, you are encouraged to consult a human resources professional.

Tags:
,