the deadline for providing copies to employees, paper filing or electronic filing to ssa is the same, i.e. january 31, 2023. what is the deadline for the form w-2: The w-2 form is an annual payroll report that shows the amount of tax withheld from an employee’s paycheck for the year and is used to report federal and state taxes.
As the end of 2022 approaches, it is important that all employers issue Form W-2s to their employees without delay so they can begin preparing their annual tax returns. And, as an employer, you must also submit copies of W-2s to the Social Security Administration (SSA), along with Form W-3s (a transmission summarizing W-2s); and state government so governments can verify the accuracy of tax returns.
2022 w-2 deadline
The following table will help you remember all the w-2 deadlines for sending w-2 forms to employees and for filing them on paper or electronically with ssa.
the w2 due dates for providing copies to employees, paper filing or electronic filing to ssa are the same, i.e. january 31, 2023.
- You must furnish Copies B, C, and 2 of Form W-2 to your employees by January 31, 2023.
- The due date for filing Forms W-2 and W-3 with the SSA is now January 31, 2023, whether you file using paper forms or electronically.
w-2 late filing penalties for small businesses
It is important for employers to send Forms W-2 to their employees and file them with SSA before the Form W-2 due date; otherwise, heavy penalties will be imposed for late submissions or incorrect information.
Penalties range from $50 to $580 for each lost w-2 tax form, depending on how late the forms were submitted.
In the above case, the IRS considers you a small business if you have earned an average of $5 million or less in annual revenue for the past three tax years. for more information, see their website.
w-2 extension
You can request a 30-day extension with the IRS by filing Form 8809, Request for Extension to File Information Returns if you think you will miss the deadline. however, the extension is not automatic and will be granted only in “extraordinary circumstances or catastrophe”. If you experience a natural disaster such as a hurricane, flood, tornado, or if your books and records are destroyed by fire, you will get a favorable response to your extension request.
The reason for the extension must be clearly explained on the 8809 form and must be signed under penalty of perjury.
It will be best if you file Form 8809 between January 1 and January 31 or as soon as possible when you need an extension.
note: you cannot request a second extension.
for more information, see the irs guide to general instructions for forms w-2 and w-3.
We hope you feel prepared, informed, and ready to submit W-2 forms to your employees and SSA before the W-2 deadlines. Along with all the features needed to process payroll efficiently for your small business, Check Mark Payroll allows you to print or e-file W-2 & w-3 forms to ssa and most states at no additional cost. You can also print completed forms 941,940, 944, 943, w-2 and w-3 on blank or pre-printed forms.
Based on your requirements, if you file 250 or more forms for the calendar year, then e-filing is a must. Otherwise, you can file a paper file and mail it to the IRS for less than 250 forms.
If you have any questions about filing w-2s, you can contact us at any time. we will be happy to help you.