In the past, employers had until the end of February to mail Form W-2 to the SSA, or until the end of March if filing electronically. These Form W-2 deadlines are no longer valid. In an effort to reduce the threat of fraud and identity theft, the IRS is enforcing a new 2018 deadline. Employers must have all W-2’s and 1099’s distributed to their employees by January 31, 2019. Send Copies B, C, and 2 of form W-2 to each employee by January 31. Your employees don’t have to physically have the forms by that date, but the deadline to mail W-2 forms is January 31st.
The Social Security Administration is strongly suggesting that all employers file their W-2 Forms through the use of their Business Services Online. There you will find a step-by-step list on how to file your W-2s and any helpful hints along with customer support.
There will be a penalty for any late or unfurnished W-2s and 1099s. For more information about penalties, refer to our article, Penalties on Information Returns.
To avoid penalties, you may request an extension of time to file W-2s and/or 1099’s by completing IRS Form 8809. The extension request must be completed by the original due date of the form in question. There is no automatic extension for filing W-2s or 1099s with amounts in box 7. The IRS must approve these requests. If approved, one, 30-day filing extension will be granted, no further extensions apply. Keep in mind, this extension does not extend the due date for supplying recipients with copies of their W-2’s and 1099’s and/or filing with the state.
Here at Private Tax Solutions, we offer you tax preparation services year-round, in aims to simplify your complicated finances and bring you peace of mind. For more information about how we can help you, call 844-774-8829 to set up an appointment for a free consultation with our professionals.