Tax Tip Spotify Podcast and/or WordPress Blog Post and February 1 is the deadline for employers to issue and file W-2 & 1099-Misc & 1099-Nec

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February 1 is the deadline for employers to issue and file W-2 & 1099-Misc & 1099-Nec

Employers must file Form W-2 and other wage statements by February 1 of each year. This is also the date Form W-2s are due to employees.

By law, employers are required to file copies of their Form W-2, Wage and Tax Statement, and Form W-3, Transmittal of Wage and Tax Statements, with the Social Security Administration by January 31.

Form 1099-MISC, Miscellaneous Income and Form 1099-NEC, Nonemployee Compensation, are also due to recipients on February 1 each year, with some exceptions. Other due dates related to Form 1099 are listed in the instructions for these forms.

Timely filing helps prevent fraud: Filing wage statements on time and without errors is beneficial to employers and the IRS. The employer avoids penalties, and the IRS has time to verify income taxpayers report on their tax returns, which helps prevent fraud..

E-file is the quickest, most accurate and convenient way to file these forms. The law requires certain filers who file 250 or more information returns for any calendar year to file electronically.

Employers should plan and prepare early. Good preparation now can help employers avoid problems later. For instance, employers can start by verifying or updating employee information, such as:
• Names
• Addresses
• Social Security numbers
Individual Taxpayer Identification Numbers

Brenda Fitch Real Estate Professional
Brenda Fitch Real Estate Professional

Please contact the office of Don Fitch Accountancy at (760)567-3110 or Email Don.Fitch@CPA.com if you have any questions or would like additional information.

DON FITCH, CPA
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February 1 is the deadline for employers to issue and file W-2 & 1099-Misc & 1099-Nec
Allow us to Help you complete your Tax Returns from 1913 to present (100+ Years) and for any of the 50 States.

Published by Don Fitch, CPA

Offers in Compromise, Wage Levy Releases, Installment Agreements, IRS Audits, and much more IRS assistance. Also, allow us to Help you complete your Tax Returns from 1913 to present (100+ Years) and for any of the 50 States.

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