The Ultimate W-2 How-To Guide For Tax Year 2019

The January 31st deadline for W-2 Forms is right around the corner. Here at TaxBandits we love a good excuse to talk taxes, so we’ve put together a great checklist to help you out! If you are experiencing anxiety, exhaustion, or an overwhelming sense of dread when you try to work on your W-2 Form….keep reading this article (and maybe see a doctor afterwards). 

What Is Form W-2 And What Are The Different Copies For?

The W-2 Form is an annual wage and tax statement that comes with a variety of copies. This can get confusing because they all essentially look the same, except for a small indicator in the lower left corner of the form. 

• Copy A – This goes to the SSA (social security administration). 
• Copy 1 –  This should be filed with the city, state, or local municipality.
• Copy B – This should be filed with the employee’s federal taxes.
• Copy C – This is for the employee’s records.
• Copy 2 – This should be filed with the employee’s state taxes.
• Copy D – This is for the employer’s (your) records.

The main takeaway here is that if you paid at least one employee $600 in wages this year, you will need to furnish them with a recipient copy and file with the Social Security Administration. 

When you file your W-2’s with TaxBandits, you can take advantage of our new Online Access Portal. These days your employees probably check their inbox much more often than their mailbox. The online portal allows your employees to securely access and download their W-2 forms online.

What Information Do You Need To File?

Now that we have covered who needs to file, let’s go over what information you need to have available for you to file successfully.

• Employer Information
  • Address
  • Legal Name
  • EIN
• Employee Information
  • Address
  • Legal Name
  • SSN
• Information on the wages and tips that you have paid your employees throughout the year.
• Information on the taxes that you withheld from your employees wages or tips this year.
• For state filing, you will need your state ID and locality name.

Why Should I File With TaxBandits?

Filing with TaxBandits takes the stress and confusion out of filing your W-2 Forms. TaxBandits breaks it down for you with interview style filing. We are an IRS Authorized E-file Provider, so you can trust us with your sensitive information. With TaxBandits you can handle both your federal and state filing.

There are some great perks when you file with TaxBandits, such as TIN matching, automatic error checks and filing multiple W-2’s at once.

TaxBandits will match your employees TIN against the SSA database and notify you for any TIN errors. This prevents you from filing corrections and paying unnecessary penalties. Also, TaxBandits will validate your Forms and notify you for any errors. You can then correct the errors and continue your filing.

With our bulk filing feature, you can easily upload all of your employee information instantly. You can use the TaxBandit’s excel template or you can use your own.

Not only can TaxBandits walk you through your e-filing process, but we can take care of your postal mailing! Whether you have 2 employees or 2,000 employees, we are here to streamline your filing!

If you have questions along the way, the TaxBandits team is here to help you! We have an amazing, U.S based support team that can answer any of your questions on the functionality of our software! They are available via phone, live chat, and email.

Ask The Bandits…

Here are the answers to a few of our commonly asked questions.

Will the information that I provide be secure in my account until the next time I file?

Yes! TaxBandits software takes a multi-layer approach to your data security. Your sensitive information will be completely protected from data fraud in our secure servers. 

Does TaxBandits charge a subscription fee or a sign up fee?

No! With TaxBandits you can open an account and get started with your tax forms for free! You don’t pay until you file. You can efile W2 for as little as $0.50. For detailed pricing visit https://www.taxbandits.com/pricing/.

Can I access copies of my W-2 after I file? 

Yes! You can access your forms from your TaxBandits account anytime! Your copies are always available for you to view or download as a PDF. We will keep your records for up to seven years. 

For more information visit https://www.taxbandits.com/w2-forms/faqs/

For even more helpful information, watch this TaxBandits Webinar….