It’s officially tax season… Did you realize that as a small business, you are responsible for submitting supply recipient copies of Form W-2 to your employees and the IRS?! Luckily creating employee copies of the W-2 Form is easy. Here is how to generate blank W-2 Forms for FREE!
How To Generate Blank W-2 Forms For Free
Do you know the difference between W-2 Forms Vs.1099-MISC Forms?
W-2 Form: The Wage and Tax Statement reports wages paid to employees and taxes withheld.
1099-MISC Forms: Miscellaneous information return reports income from self-employment/ Independent contractors
Understanding your worker’s classification is one of the most critical aspects of employment. Typically an employee receives training for their positions and is managed by you or a manager. While a contractor works for multiple companies and has complete control over their schedule.
Your responsibilities vary based on the type of workers your business employs. If your business pays wages for employment you will need to withhold federal and state taxes for your employees but not for any Independent Contractors.
What is a W-2 Form?
Form W-2, the Wage and Tax Statement, reports an employee’s annual earnings and tax withholdings at the end of the year. Employers are required to send a copy of the completed W-2 to both the employee and IRS.
January 31st: The deadline for filing with the IRS for both paper filing and e-filing. Recipient copies of Form W-2 must be received by all employees on or before this date.
Who Must File Form W-2?
You must file a W-2 Form for each employee who received money for work or services rendered including non-cash payments of $600 or more. If income, social security, or Medicare tax was withheld, a W-2 Form must be filed with the employee and the IRS.
Income taxes are withheld if the employee claims no more than one withholding allowance or had not claimed exemption from withholding on Form W-4, Employee’s Withholding Allowance Certificate.
Are You Required to File Form W-2 Electronically?
If you are filing 250 forms or more, you are required to e-file. Luckily small businesses with less than 250 forms can e-file too. E-filing Form W-2 is the best way to ensure your business stays tax compliant.
Generate Printable W-2 Forms 2018
ExpressEfile is the easiest place to generate free W-2 Forms online. Fill out the required information fields then print W-2 online, or download W-2 Forms. There is no limit to the number of blank W-2 Forms you can generate from your small business. In addition to the free options, we offer affordable upgrades like IRS e-filing and postal mail options.
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