NEW YORK—The Internal Revenue Service (IRS) is reminding employers that the annual deadline for filing copies of employees' Form W-2 with the Social Security Administration (SSA) has been moved to Jan. 31. In the past, employers typically had until the end of February if filing on paper, or the end of March if filing electronically, to submit copies of these forms to the government.

The new Jan. 31 filing deadline applies as well to certain Forms 1099-MISC reporting non-employee compensation, such as payments to independent contractors.

The earlier filing deadline is part of the Protecting Americans from Tax Hikes Act (PATH), enacted last December. "As tax season approaches, the IRS wants to be sure employers, especially smaller businesses, are aware of these new deadlines," IRS Commissioner John Koskinen said in an announcement.

Under the new deadline:

  • Employers filing 249 or fewer copies of Form W-2 can file these forms electronically or by paper.
  • Employers filing 250 or more returns must do so electronically.

Employers must file by Jan. 31 regardless of number of employees or the method of filing. As they have in the past, employers must also give copies of Form W-2 to their employees by Jan. 31.

In addition, there are changes in requesting an extension to file Form W-2. Only one 30-day extension to file Form W-2 is available, and this extension is not automatic. If an extension is necessary, a Form 8809, Application for Extension of Time to File Information Returns, must be completed as soon as the employer knows an extension is necessary, but by Jan. 31 at the latest. The instructions for Form 8809 contain additional information.

To make corrections after filing Form W-2 with the Social Security Administration, employers can file Form W-2c, Corrected Wage and Tax Statement.

As well, many states have also adopted the federal change of the new deadline of Jan. 31, beginning with the upcoming filings for 2016 Form W-2 during the 2017 tax filing season.

To start planning early, companies should:

  • Verify your employees' filing status and confirm their mailing addresses prior to year-end.
  • Verify that the form W-9 information for your 1099-MISC contractors is current and accurate.

Hedley Lawson, Contributing Editor
Managing Partner
Aligned Growth Partners, LLC
(707) 217-0979
hlawson@alignedgrowth.com
www.alignedgrowth.com