Form W-2 — Employee Wage Statement
Annual statement of wages and taxes withheld for each W-2 employee. Must be sent to employees AND filed with the Social Security Administration by 31 January following the calendar year.
Finn tracks your United States deadlines
AccountsOS handles tax, filing deadlines and invoicing for United States businesses, in plain English. Ask Finn about yours, no signup needed.
Who this applies to
- All US employers with W-2 employees
- Including S-corp owner-employees who took W-2 wages
What to file
Form W-2 for each employee showing wages, federal income tax withheld, FICA withheld, and various supplemental items (401k contributions, HSA, dependent care, etc.).
How to file
E-file via Business Services Online (BSO) at SSA.gov. Most payroll software files automatically.
Payment due
No payment with W-2 — payroll taxes were paid throughout the year via 941 deposits.
Penalties for missing this deadline
Tier-based penalties for late W-2: $60 per form (within 30 days), $120 (30 days – 1 August), $310 (after), $630 (intentional). Doubled for failures to both employee and SSA.
Filing checklist
- Reconcile annual payroll totals to 941s filed
- Include health insurance premiums in Box 12 (DD)
- Mark S-corp owner-employee health insurance in Box 14
- Send W-2 to each employee by 31 January
- File with SSA by 31 January
Common mistakes to avoid
- Missing the 31 January deadline (used to be later, brought forward in 2016)
- Not including S-corp shareholder health insurance correctly
- Forgetting Box 12 codes for various benefits
- Misalignment between Box 1 (federal wages) and Box 3/5 (FICA wages) without explanation
Never miss a United States deadline
AccountsOS tracks every Internal Revenue Service (IRS) and State Secretary of State (varies by state) deadline and reminds you weeks ahead.
Try Free