Overcome Tax Season With These IRS Form W-2 Filing Tips

The 2020 tax season is on the horizon, which means employers must file their W-2 and 1099 Forms by the January 31 deadline.

Not only do you need to have Forms W-2 and 1099 filed by this date, but you’re also required to issue paper copies to your employees!

If you haven’t begun preparing for tax season yet, don’t worry. You don’t need to hire an expensive accountant to handle filing for you or spending hours trying to figure out the form yourself. Simply use TaxBandits, the market-leading employment tax solution designed to help you quickly file IRS Forms W-2 or 1099 and distribute copies to your employees or contractors!

Form W2 Deadline

Overcome Tax Season With These IRS Form W-2 and 1099 Filing Tips

Forms W-2 and 1099 Overview

Let’s take a moment to discuss IRS Forms W-2 and 1099.

Forms W2 and 1099 are the annual statements providing a list of income and compensations offered to employees or contractors including Medicare and social security tax withheld during the year. Your employees need this information to complete their personal income tax returns.

Failing to file these Forms or issue copies to employees ahead of the January 31 deadline will result in costly IRS penalties.

For example, failure to file by the deadline results in a fine of $30 per W-2 Form. After 30 days, this penalty grows to $60 per form, with a staggering penalty of $200 for small business owners.

After August 1st, the penalty rises to $100 per return with a maximum penalty of $500 for small businesses and $1,500 for others. 

The good news? TaxBandits helps prevent these hefty fines for as low as $1.99 per form. That’s it!

Tax Form 1099 Deadline

Easily E-File Forms W-2 and 1099 Using TaxBandits

Filing your W-2 and 1099 Forms with TaxBandits couldn’t be easier. Simply create your free account and follow the e-filing instructions to complete your forms in a matter of minutes. 

Once your free account is created, you will select the desired Form to get started. Then enter your employer details, including the name, EIN, employer code, employer type, and address.

Next, enter the appropriate details for each of your employees or contractors, such as their name, SSN, address, and contact information.

From there, follow the step-by-step instructions to enter federal and state details such as the amount of income and tax withheld for each entity. Simply review the information to ensure it’s correct, paying for your W-2 Form and transmitting it directly to the SSA (Social Security Administration).

Be sure to take advantage of convenient Form W-2 filing features, such as our bulk upload feature allowing you to upload all of your employee information at once. Now you’re ready to enjoy the benefits of TaxBandits’ low pricing – starting as low as $.99, TIN & USPS validation in addition to IRS business alerts updated for the 2019 tax year.

Plus, you can use our mailing feature to print and mail hard copies of your W-2 form to each of your workers, saving you time and money. What are you waiting for? 

Don’t forget our US-based support team is here to help via phone Monday – Friday from 9 AM to 6 PM EST at 704.684.4751. We also provide live chat and 24/7 email support at support@TaxBandits.com.


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