Deadline to file wage statements is January 31 for employers.
As the IRS officially opens the 2022 tax season, it is a good time to remind employers of the January 31 deadline to file Forms W-2 and other wage statements. Filing these documents timely helps employers avoid penalties and helps the IRS in fraud prevention.
A 2015 law made it a permanent requirement that employers file copies of their Form W-2, Wage and Tax Statements, and Form W-3, Transmittal of Wage and Tax Statements, with the Social Security Administration by January 31.
Forms W-2 are normally due to workers by January 31. Forms 1099-MISC, Miscellaneous Information, and Forms 1099-NEC, Nonemployee Compensation, are also due to taxpayers by January 31. Various other due dates related to Form 1099-MISC and Form 1099-NEC, including dates due to the IRS, can be found on the form’s instructions.
The normal January filing date for wage statements means that the IRS can more easily detect refund fraud by verifying income that individuals report on their tax returns. You can help support that process and avoid penalties by filing the forms on time and without errors.
The IRS and SSA encourage all employers to e-file. It is the quickest, most accurate and convenient way to file these forms. For more information about e-filing Forms W-2 and a link to the SSA’s Business Services Online website, visit the SSA’s Employer W-2 Filing Instructions & Information website SSA.gov/employer.
Use Same Employer Identification Number on All Forms
Make sure the Employer Identification Number (EIN) on your wage and tax statements (Forms W-2, W-3, etc.) and your payroll tax returns (Forms 941, 943, 944, etc.) match the EIN the IRS assigned to your business. Do not use your Social Security number (SSN) or Individual Taxpayer Identification Number (ITIN) on forms that ask for an EIN.
If you used an EIN (including a prior owner’s EIN) on your payroll tax returns that’s different from the EIN reported on your W-3, you should review General Instructions for Forms W-2 and W-3, Box h—Other EIN used this year.
Filing these forms with inconsistent EINs or using another business’s EIN may result in penalties and delays in processing your returns. Even if you use a third-party payer (such as a Certified Professional Employer Organization, Professional Employer Organization, or another third party) or a different entity within your business to file these documents, the name and EIN on all statements and forms filed must be consistent and exactly match the EIN the IRS assigned to your business.
You may request a 30-day extension to file Forms W-2 by submitting a complete application on Form 8809, Application for Extension of Time to File Information Returns by January 31. However, one of the criteria in Section 7 of Form 8809 must be met for the extension to be granted.
Filing Form 8809 does not extend the due date for furnishing wage statements to employees. A separate extension of time to furnish Forms W-2 to employees must be filed by January 31. See Extension of time to furnish Forms W-2 to employees for more information.
A Final Note
If you are an employer and need guidance with your wage statements, contact your tax professional. Do not delay.
Stay safe. Stay well.
Bayshore CPA’s, P.A. are your local Certified Public Accountants
and Tax Resolution Specialists conveniently located
in Mooresville, North Carolina
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