IRS Reminds Employers: Forms W-2, W-3 Some Forms 1099-MISC Due Jan. 31

IRS Reminds Employers: Forms W-2, W-3 Some Forms 1099-MISC Due Jan. 31

The Internal Revenue Service is reminding employers that the deadline for filing employee

Forms W-2, Wage and Tax Statement, for the calendar year 2017 is Jan. 31, 2018. This includes Forms W-3, Transmittal of Wage and Tax Statements.

In addition, reporting payments to contract workers on Form 1099-MISC (box 7, nonemployee compensation) must also be filed by Jan. 31.

Employers must file Form W-2 showing the wages paid and taxes withheld for the year for each employee with the Social Security Administration. The due date applies to both e-filed and paper filed W-2s. The Jan. 31 deadline began last year as part of the Protecting Americans Against Tax Hikes (PATH) Act legislation to combat identity theft and refund fraud.

Employers are obligated to mail to the last known address of their employees. If an employee has moved, they should notify their 2017 employers ASAP.

The Social Security Administration encourages all employers to e-file their Forms W-2 by using its Business Services Online. The online filing checklist provides a step-by-step process for employers to file W-2s quickly and securely. Employers are required to use e-file if they file 250 or more Forms W-2 or W-2c, and failing to do so may incur a penalty. The IRS projects that employers will file more than 250 million Forms W-2 this year and that the vast majority will be e-filed. E-filing can save time and effort and helps ensure accuracy.

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