FAQs on W-2 Forms

What are the Late Filing Penalties Associated with Form W-2?

Form W-2 Wage and Tax Statement, the filing deadline is on January 31, 2020.

If you fail to file a correct W-2 Form by the due date and cannot show reasonable cause, you may be subject to a penalty as provided under section 6721.

Penalty for not filing Form W-2

The amount of the penalty is based on when you file the correct W-2 Form.

  • $30 per W-2 Form if you correctly file within 30 days (by March 30 if the due date is February 28); the maximum penalty is $250,000 per year ($75,000 for small businesses, defined on page 11).
  • $60 per W-2 Form if you correctly file after 30 days beyond the due date but by August 1; the maximum penalty is $500,000 per year ($200,000 for small businesses).
  • $100 per W-2 Form if you file after August 1, or you do not file required Forms W-2; the maximum penalty is $1,500,000 per year ($500,000 for small businesses).

The penalty also applies if you:

  • Fail to include all information required to be shown on W-2 Form,
  • Include incorrect information on W-2 Form,
  • File on paper forms when you are required to e-file,
  • Report an incorrect TIN, Fail to report a TIN,
  • Fail to file paper Forms W-2 that are machine-readable.

Avoid further penalties and never miss any federal deadline.
File your Form W-2 now with TaxBandits. Your Forms will get processed in just a few minutes and you will get an instant notification the moment SSA accepts your W2s.

And with TaxBandits, you will always get notifications about any important federal tax filing deadline that you are responsible for.

We take the utmost care for e-filing your Form W-2 with the SSA and distribute W2 copies to employees on-time.

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Last modified 26 Jul 2017 17:07 EST

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