Employers are required to report wages, tips, and other compensation paid to an employee throughout a tax year. This requirement is met by filing Form W-2, Form W-3, and/or Form 1099-MISC.
Filed annually, each of these forms have specific deadlines that have recently been changed by the IRS, giving employers less time to file.
Early Due Dates
Form W-2 is used as a payroll or employment tax return which is filed with the Social Security Administration for employees that have social security, income, or Medicare tax withheld from their income.
Employers must file Form W-2 annually and send a copy of the Form to their employees to report salary and other compensations offered throughout the year for personal income tax return purposes.
The new filing deadline for all forms of W-2 filing (recipient copy, paper filing, and e-filing) is January 31, 2018.
Form W-3 accompanies a W-2 form as a transmittal form that reports the total earnings, social security wages, Medicare wages, and tax withholdings for your employees during the tax period.
TaxBandits makes this portion of filing extremely convenient by automatically generating Form W-3 for you, based on the information you provide while filing your W-2.
Form 1099-MISC Filing Deadlines
Form 1099-MISC is used to report payments for services performed for a business by people not treated as its employees. Any non-employee that is compensated $600 or more in a year of service should receive a Form 1099-MISC.
While all versions of Form W-2 must be filed by the January 31 deadline, there are 3 different deadlines for Form 1099-MISC:
- Due to the Recipient by January 31, 2018
- Paper file with the IRS by February 28, 2018
- E-file with the IRS by April 2, 2018
Note: If you are reporting 1099-MISC forms for non-employee compensation (NEC) then the deadline to file your 1099-MISC Forms is on January 31st. Make sure that the recipient copies is sent before the deadline.
TaxBandits is Perfect for Employers, CPAs, and Accountants
Whether you’re handling taxes for your own business or preparing taxes on behalf of clients, TaxBandits is the perfect, all-in-one tax filing solution that helps you achieve greatness.
With TaxBandits, you have the ability to e-file various tax forms under one account, including W-2 Forms, Form 1099 Series, Form 94x Series, Form 990 Series, and more.
You can even save tons of time with our innovative e-filing features. For example, our bulk upload feature eliminates the burden of entering each of your employee’s information one at a time by simply importing all of their data at once!
Plus, you can remove going to the post office from your to-do list! Use our postal mailing feature to have us print and mail hard copies of your returns to each of your recipients.
We Can Help
If you file with TaxBandits, you won’t miss the deadline! We provide all the employment wage tax returns you need online along with step-by-step e-filing instructions so you can instantly complete your returns and transmit them directly to the IRS.
Give the awesome, US-based TaxBandits support team a call Monday – Friday from 9 AM to 6 PM EST at 704.684.4751 if you need any assistance. We’re standing by to help. Also feel free to reach us via live chat, or take advantage of our 24/7 email support at support@TaxBandits.com.