Q. What is Form W-2?

A. Form W-2 is a wage tax form to report the wages paid to employees and the taxes (social security, income, and Medicare tax) withheld from the employees to the SSA (Social Security Administration). Also, the copy of Form W2 must be furnished to the employees. To know more,
Visit irs.gov/forms-pubs/about-form-w-2.

Q. When is the due date to file Form W2 for 2019 tax year?

A. January 31, 2020 is the due date to file Form W2 with the SSA for 2019 Tax Year using the efile service or by paper. Also before January 31, 2020 employers must distribute copies of Forms W2 to employee(s).

Q. Is it necessary to file Form W-2 with the State?

A. Depending on your state requirements, you may need to file Form W-2 and other reconciliation forms with your applicable state. You can e-file these forms easily from your TaxBandits account. Check your state filing requirements.

Q. How to correct Form W2?

A. If you have made any mistakes on your previous Filed Form W-2, then you can use Form W-2c to report the corrections with the IRS. Errors can include an incorrect name, social security number, employee earnings or tax withholdings. Learn More to know what are all the information can be corrected and how?

Q. What are the penalties for not filing W-2 on time?

A. Failure to file Form W-2 by the deadline results in a $30 penalty per W-2. Filing 30 days after the due date raises the penalty to $60 per form, with a max fine of $500, or $200 for small business owners. Click here to know about Penalties.

Q. How can I apply the extension for filing Form W2?

A. The Form W2 extension for filing with the SSA is no longer automatic as of 2016. The only extension possible is for 30 days. Apply for this extension by paper filing Form 8809, Application for Extension of Time to File Information Returns. When filing Form 8809 you must provide a detailed explanation for needing an extension and sign under penalties of perjury. Learn More about Form W2 Extensions.