Employers once again will have an earlier deadline next year to file W-2s with the Social Security Administration.
For the 2016 tax year, employers had a new, accelerated deadline of Jan. 31 to file W-2s – instead of the end of February or March as it had been in prior years – depending on whether the forms were filed electronically or by paper.
The same deadline will hold for the 2017 tax year. Therefore, employers must have all forms W-2, W-3 and 1099-MISC filed by Jan. 31, 2018.
This earlier deadline means that employers will have to begin their year-end reporting procedures sooner to ensure that the W-2 and 1099 forms are accurate before being filed with the taxing authorities.
If you will be filing more than 250 W-2s, federal filing must be completed electronically. Furthermore, each state has its own e-filing deadlines and requirements, so be sure to check with your individual state for those dates.
As always, please let us know how we can help you make this process run smoothly.