Who Files Form W-2?
Form W-2 is called the Wage and Tax Statement. It must be completed if an individual has several employees to whom the payments are made for the services in the business or trade. Generally, this form must be submitted by every employer.
What is Form W-2 for?
This form is specially designed for employers to report the wages and taxes to the employees. Every employee must receive this report from the employer.
When is Form W-2 Due?
You may mail the completed form or file it electronically by January 31st, 2018. To avoid penalties, file it by this date. If you are not aware of the penalties, check the section called Terminating a Business. You are eligible to request the time extension for this application if the necessity occurs.
Is Form W-2 Accompanied by Other Forms?
Generally, this form must be submitted separately. However, when you claim the time extension for it, you must complete Form 8809. Moreover, check if the information about the employees coincides with the information provided in Form 941 and 944 about the tax returns.
What Information do I Include in Form W-2?
The following information must be provided when completing Form W-2:
- Social security number of both the employer and employee;
- Identification number of the employer;
- Name and address of the employer;
- Social security wages, allocated and Medicare tips, tax withheld, federal income tax withheld;
- Control number;
- Dependent care benefits;
- Verification code, etc.
Make sure all fields are completed properly. The mistakes may lead to penalties.
Where should I Send Form W-2?
The employer must complete this form and send it to the Internal Revenue Service.