Employers Face New Jan. 31 W-2 Filing Deadline

As tax season approaches, the Big “I” reminds its members of a new filing deadline for Forms W-2 for employers and small businesses. The changes are part of the Protecting Americans from Tax Hikes Act, which became law last year.

The goal of the change was to make it easier for the Internal Revenue Service to detect and prevent refund fraud, and to accelerate the W-2 filing deadline for employers. Employers are now required to file their copies of Form W-2 by submitting them to the Social Security Administration by Jan. 31.

The new Jan. 31 filing deadline also applies to certain Forms 1099-MISC reporting non-employee compensation, such as payments to independent contractors. In the past, employers typically had until the end of February to submit copies of these forms on paper, or the end of March for electronic filing.

Wyatt Stewart is Big “I” senior director of federal government affairs.