Form W-2 is a payroll or employment tax return form that is filed electronically with the SSA (Social Security Administration) by employers for their employees each year. In addition to filing with the SSA, employers must send copies of Form W-2 to their employees to report salary and other compensations offered throughout the year.
Employees will need to receive a W-2 Form if you provided them with income that had social security, income, or Medicare tax withheld. They will use the information on their W-2 to complete their personal income tax returns. A W-3 must be submitted with your W-2 forms. Form W-3 is a transmittal form that reports the total earnings, social security wages, Medicare wages, and tax withholdings for your employees during the tax period.
Employee Copy Deadline
Paper Filing Deadline
Depending on state requirements you may need to file Form W-2 and other reconciliation forms with the applicable state. TaxBandits supports W-2 filing for certain eligible states.Learn More
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.
If you’re unable to file Form W-2 on time, you can apply for an automatic 30-day extension by completing Form 8809 by the original filing deadline. E-file your extension today.Learn More