SAI CPA Services Guide: Critical W-2 Filing Deadlines & Compliance Requirements
As tax season approaches, SAI CPA Services reminds employers of the crucial January 31st, 2024 deadline for W-2 filing obligations. This deadline applies to both distributing W-2s to employees and submitting them to the Social Security Administration (SSA) . Key Filing Requirements: Employers must provide Form W-2 to all employees who received wages, tips, or other compensation during the previous year Electronic filing is mandatory for businesses submitting 250 or more W-2 forms Both paper and electronic submissions must be complete and accurate to avoid penalties Deadline Details: The January 31st deadline is firm for both: Distributing W-2s to employees (either electronically or by mail) Submitting W-2s to the SSA (via paper forms or electronic filing) Penalty Awareness: Failing to meet these deadlines can result in significant penalties: $50 per W-2 if filed within 30 days of the deadline $110 ...