January 31, 2021
E-file Form W2 & W2c Securely
- No Annual Subscription
- No Deadline Pricing
- No Hidden Charges
Choose the Type of Form W-2 to E-file with the SSA
Helpful Tools & Features included with our Cloud Based Form W2 Software
Form W2 State Filing
Quickly and easily e-file your State W-2 Forms along with any State Reconciliation/Transmittal Forms you may need.Learn More
Online Access Portal
Provide Online Access to employees to view or download the W-2 Copies through a secure portal.Learn More
TIN Matching for Form W2
TaxBandits helps employers to stay away from TIN Errors by validating your employee's TIN against the SSA database.Learn More
EFW2 File Upload
TaxBandits process your EFW2 file format and E-file Forms with Federal, State, and Mail employee copies.Learn More
What is a Form W-2?
Form W2, also known as the Wage and Tax Statement, reports the annual wages of your employees and the amount of tax that you have withheld from their paychecks. Employers must send each of their employees a copy and file these forms with the SSA.
What's New on Form W2 for the 2020 tax year?
The Form W-2 for 2020 has a few new updates. Box 9, the verification code box, is no longer present. This box was part of a pilot program that the IRS has ended for tax year 2020. Employee stock options are no longer subject to the RRTA (Railroad Retirement Tax Act). There is now an opportunity for disaster tax relief. Another change to note is that penalties are increasing for those who file Form W-2 for 2020 late or disregard filing completely. Visit irs.gov to learn more about Form W2.
Who must file Form W-2?
If you have paid at least one employee at least $600 (all amounts if any income, social security, or Medicare tax was withheld) in wages this year, you must file a Form W-2 for each employee from whom:
- If you withheld Income, social security, or Medicare tax.
- Income tax would have been withheld if your employee had claimed no more than one withholding allowance or had not claimed exemption from withholding on Form W-4.
What is Form W3?
A Form W-3 is a transmittal form that summarizes the Form W-2, it outlines the total wages, tips, and compensation paid to employees and the taxes withheld from their wages. Only employers who have paper-filed their W-2 Forms must file the W-3 Form.
Form W3 is not required when you file W2 Forms electronically.
State filings for Form W2
Most states require you to file your W-2’s at a state level as well as federally. Always be sure to check your requirements before filing your Form W2 with the State.
When you e-file your W-2’s with TaxBandits, we will file your forms with both the SSA and your required state agency. Start Filing Now
How Do I Fill Out a W-2?
The Form W-2 is a series of boxes that are labeled by both numbers and letters. According to the Form W-2 instructions, there is important information that you will need handy when you file. This information includes…
- Employer Information: Address, Legal Name, EIN
- Employee: Address, Legal Name, SSN
- Information on the wages and tips that you have paid your employees throughout the year.
- Information on the taxes that you withheld from your employees wages or tips this year.
- For state filing, you will need your state ID and locality name.
Click here to learn more about the instructions of Form W2 Boxes.
What are the Form W-2 Copies?
The Form W-2 has a variety of copies with slightly different purposes.
- Copy A- This goes to the SSA (Social Security Administration).
- Copy 1- This should be filed with the city, state, or local municipality.
- Copy B- This should be filed with the employee’s federal taxes.
- Copy C- This is for the employee’s records.
- Copy 2- This should be filed with the employee’s state taxes.
- Copy D- This is for the employer’s records.
Common Errors on Forms W-2
Employers commonly make mistakes when entering their employee’s TIN or Taxpayer Identification Number. With TaxBandits these common errors are worries of the past. Our cloud-based software validates your employees’ TIN’s against the SSA database for accurate reporting.
What is a Form W-2c?
The Form W-2c provides corrections to the original W-2 Form. The information that may need to be amended includes an employees’ name, SSN, Tax Year, EIN, or errors in reported wages or taxes withheld.
What is a Form W-3c?
A Form W-3c is a transmittal form that summarizes the corrected information found in a Form W-2c. It is not required when you e-file your forms.
Extension of time to file Forms W-2 with the SSA.
Extensions for the Form W-2 are not automatic. If you are filing for a W-2 extension then you must paper-file the Extension Form 8809 and provide a detailed reason for needing the extension. The SSA will only grant a 30-day extension under extraordinary circumstances such as a catastrophic event. The 30-day extension does not apply to your recipient copies.
IRS W2 Form Penalty
Employers who don’t furnish their employees with copies of their Form W-2 for 2020 and file these forms with the SSA by January 31 will be penalized. Employers who file within 30 days after the January 31st deadline, will be penalized $30 dollars per form. After 30 days the penalty rises to $60 per form. Learn more about W2 penalties.
File your W2 forms securely and accurately with the Federal, and State. We postal mail W2 copies to your employees. Get Started with TaxBandits
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