There are BIG changes to W2 requirements in 2016.
W-2 Copy A, the red one, must be e-filed or mailed to the SSA by January 31, 2017.
Business no longer have until the end of February to mail the paper copy, or the end of March to e-file the federal W2 Copy A.
For the 2016 tax year, all W2 Copy A forms must be filed by the same date that recipient copies are mailed., January 31, 2017.
See how Discount Efile can make it easy.
Same Sex Marriage Equality
For federal tax purposes, marriages of couples of the same sex are treated the same as marriages of couples of the opposite sex. The term “spouse” includes an individual married to a person of the same sex.
However, individuals who have entered into a registered domestic partnership, civil union, or other similar relationship that is not considered a marriage under state law are not considered married for federal tax purposes.
Penalties for Safe Harbor
Forms W-2 with incorrect dollar amounts may fall under a new safe harbor for certain de minimis errors.
Higher penalties apply for: Failure to file correct Forms W-2 by the due date, Intentional disregard of filing requirements, Failure to furnish Forms W-2, Intentional disregard of payee statement requirements, The higher penalty amounts apply to returns required to be filed after December 31, 2015 and are indexed for inflation.
Extensions of Time to File
Extensions for filing Form W-2 with the SSA are no longer automatic.
For filings due on or after January 1, 2017, you may request one 30-day extension to file Form W-2 by submitting a complete application on Form 8809, Application for Extension of Time to File Information Returns, including a detailed explanation of why you need additional time and signed under penalties of perjury.
The IRS will only grant the extension in extraordinary circumstances or catastrophe.