As a small business owner, you are well aware of the slew of government reports you must file. The IRS deadline for filing W-2 Forms is January 31st, 2018. This means you cannot wait to fil because the deadline is only two days away!! There is no time to lose! Check out the IRS Form W-2 deadline and penalties you need to know!
W-2 Form 2018 Deadline: January 31st
IRS Form W-2 Deadlines and Penalties You Need to Know
What Penalties Could My Company Face?
You will be fined hefty penalties if you fail to file the required W-2 Forms by the deadline, fail to include the required information, or paper file when required to e-file.
Penalty amounts are based on the date correct forms are filed, or the correct employee statement is provided to the IRS. The penalty for failing to file an accurate information return is separate form failing to submit the correct employee statement.
What if I Fail to File Form W-2?
All filing penalties are based on the date when correct W-2 Form is filed or furnished to employees:
Failure to file W-2 Forms by the deadline results in a $30 penalty per W-2 Form if submitted within 30 days following the deadline. Filing more than 30 days following the deadline but before Aug. 1st raises the penalty to $60 per W-2 Form.
Filing after Aug 1st or failing to file correction will increase the penalty to $100 per form.
How Can I Avoid W-2 Form Penalties?
Now that you fully understand what is at stake, I am sure you will wish to avoid having to pay these penalties. W-2 Forms reporting employee wages are due by January 31st.
You can directly e-file your employee W-2 Forms today using ExpressEfile, an IRS-authorized e-file provider. We meet all strict security guidelines set by IRS. ExpressEfile uses secure encryption technology to protect your tax and business information. Plus, upgrading from paper-filing to e-filing is just $0.99 per form, and our tax software helps you avoid mistakes by automatically checking for errors.
E-file: $0.99 Per Form
E-Filing + Postal Mailing: $2.29 Per Form