Critical errors can happen to any small business owner, but we’re here to make sure they don’t happen to you. Before sending W-2 Forms to your employees and the Social Security Administration review these common W-2 filing mistakes and learn how to avoid them.
Common W-2 Filing Mistakes and How to Avoid Them
Failing to File/Late Filing W-2 Forms
As of 2016, W-2 Forms must be filed with the Social Security Administration (SSA) by January 31st. This change was implemented to reduce tax fraud. Also, you must provide W-2 Forms to your employees no later than January 31st, with information pertaining to the previous fiscal year.
All W-2 Forms paper filed must include a transmittal W-3 Form. The January 31st deadline applies to paper and electronically filed submissions to the SSA. If you fail to file by the deadline, it will result in a penalty.
Read more about IRS W-2 penalties you need to know.
Using the Wrong W-2 Form Year
Use the W-2 Form for the year income was received, not the year you are filing, so employee wages and taxes withheld in 2017 will be reported on 2017 W-2 Forms. These forms must be provided to employees and filled with the Social Security Administrations by January 31st, 2018.
Failing to Use Approved W-2 Form
You cannot simply download a W-2 Form, print, and file with any online location.
Copy A is sent to the Social Security Administration (SSA). This should be printed on a laser-scannable red form. You must file with approved forms to avoid filing penalties. When you generate W-2 Forms or e-file using ExpressEfile, you can rest assured that all of your required forms are generated correctly.
Sending W-2 Forms to the IRS
Remember, you file Form W-2 with the SSA, no the IRS. If you file your employee W-2 Forms with the IRS, you will be penalized for failing to file. Unfortunately, they will not accept your W-2 forms.
Common Form Errors
Here are the most common form errors small business owners make:
- Failing to include cents and decimal amounts
- Failing to use black ink
- Not using IRS required 12 pt. Font Courier type font
- Mistyping employee names or mis-formating name in wrong boxes
How to Avoid W-2 Form Mistakes?
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 the 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.
With our E-filing and Postal Mailing add-on, you can avoid the tedious task of mailing your recipient forms. We will send all recipient copies on your behalf the following business day from our Rock Hill, SC office. Upgrade today for just $2.29 per form.
E-file: $0.99 Per Form
E-Filing + Postal Mailing: $2.29 Per Form