Form W-2 Information Overview
Form W-2 is a Wage and Tax Statement
. The purpose of this form is for employers to report employees’ earnings on an annual basis along with federal and state taxes withheld. Each employer who pays salaries or non-cash payments of $600 per employee annually are required to File Form W-2
with the SSA (Social Security Administration)
/ IRS (Internal Revenue Service).
W-2 Form Flow Diagram
E-Filing W-2 Forms
Employers of any size can E-File Form W-2 for their employees. An employer needing to file 250 or more W-2 forms is required by the SSA (Social Security Administration) / IRS (Internal Revenue Service)
to E-File these forms. If the employer has over 250 Form W-2s to file and fails to E-File, penalties could apply.
- 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
, 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.