IRS W-2 Form wage & Tax Statement

Form W-2 is used by employers to report an employee’s annual earning and taxes withheld at the end of each year. Form W-2 has a lot of places to go after it is completed; a copy is required to be sent to the IRS, the employee/recipient, and possibly any states where taxes were withheld. When filing for 250 or more employees, Form W-2 is required to be e-filed.

W-2 Form Flow Diagram


form Flow

Who must file IRS Form W-2

All employers, no matter the size of your company, can e-file Form W-2 for all their employees. If an employer needs to file 250 or more Form W-2s, the SSA (Social Security Administration)/IRS (Internal Revenue Service) requires these forms to be e-filed. Attempting to paper file 250 or more W-2s will result in penalties, and it will take forever to complete – e-filing is always the better option. The requirements of who needs to file Form W-2 can be explained as: An employer engaged in a trade or business who pays remuneration for services performed by an employee (including noncash payments) is required to file a Form W-2 for each employee ( even for employees related to the employer) from which income, social security, or Medicare tax was withheld. Income tax would have been withheld if the employee had claimed no more than one withholding allowance, or had not claimed exemption from withholding on Form W-4 – Employee’s Withholding Allowance Certificate. All Form W-2s are due to employees on or before February 2nd.
  • Used to report wages paid to employees and the taxes withheld from them.

Every employer engaged in a trade or business who pays remuneration for services performed by an employee, including noncash payments, must file a Form W-2 for each employee (even if the employee is related to the employer) from whom:

  • Income, social security, or Medicare tax was withheld.
  • Income tax would have been withheld if the employee had claimed no more than one withholding allowance or had not claimed exemption from withholding on Form W-4, Employee's Withholding Allowance Certificate.
  • An employer must mail out the Form W-2 to employees on or before February 2.

Form W-2 Due Dates

Employers are required to furnish copies of Form W-2 to employees no later than February 2, 2015 for the 2014 tax year. If paper filing the due date for employers to file Form W-2 with the SSA / IRS is March 2, 2015 for the tax year 2014. When E-Filing the due date for filing W-2 forms with the SSA / IRS is extended to March 31st, 2015 for the 2014 tax year. With ExpressTaxFilings you can take care of both E-Filing your W-2 forms and furnishing them to your employees by postal mail automatically.

Form W-3 Information Overview

The Form W-3, Transmittal of Wage and Tax Statements includes a collective total of all salaries, tips and other compensation that has been paid to all of its employees along with all federal and state taxes withheld. A Form W-3 must be filed even if only one Form W-2 is being filed by the employer. If you are E-Filing your form W-2s with the SSA/IRS you are not required to submit a separate Form W-3. With ExpressTaxFilings you can E-File your W-2 forms and not have to worry with the Form W-3 because it is taken care of when you file electronically.

Electronic Forms Available

ExpressTaxFilings allows you to E-File forms 1099-MISC, 1099-DIV, and 1099-INT in addition to your W-2 forms. Express Extension, ExpressTruckTax and ExpressIFTA are all part of the ExpressTaxZone line of tax products.

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