Employers need to file their copies of form W-2 by Jan. 31 to the Social Security Administration. (Protecting Americans from Tax Hikes (PATH) Act). Employers normally had until the end of February, if filing on paper, or the end of March, if filing electronically, to send in copies of these forms.
Employers have long faced a Jan. 31 deadline in providing copies of these forms to their employees.
The new deadline also applies to certain Forms 1099. Those reporting non-employee compensation such as payments to independent contractors submitted to the IRS are due Jan. 31.
The new Jan. 31 deadline will help the IRS to spot errors on returns filed by taxpayers. Having these W-2s and 1099s sooner will make it easier for the IRS to verify legitimate tax returns and get refunds to taxpayers eligible to receive them.
I created this blog to help understand certain basic aspects of U.S. tax law. Of course, each situation is unique and nothing that is on this site will ever replace the expert advice of a tax professional.
Please do not hesitate to contact me should you have any question