New Deadlines for Forms W-2 and 1099-MISC – Earlier Filing in 2017

2017 Deadlines

Tax filing dates for 2016 Forms W-2 and 1099 has changed. The latest notification from IRS states that the filing deadline for 2016 W-2 and 1099 forms (incl. Form 1099-MISC) is January 31st, 2017. Evidently, this is a month earlier than the filing date of last year.  But, this doesn’t change the deadline for furnishing W-2 forms to employees and 1099-MISC to other workers for 2016. Also, the dates for E-Filing and paper filing remain the same.

“Many states in the US are now using earlier filing dates to cut down on tax fraud and identity theft.” – Bloomberg BNA

IRS has also revised and increased the penalties associated –

  1. With late filing;
  2. Filing with incorrect forms by the due dates;
  3. Intentional disregard for filing requirements;
  4. Failing to furnish W-2s to the employees.

January 2017 –Month for Annual Payroll Tax Reports

All the related payroll tax reports viz; – Annual wage and tax reports, unemployment tax reports and Form 941 are due on January 31, 2017

Furnishing of W-2 Forms and 1099-MISC Forms to your Employees and Contractors

Employers are also supposed to hand-over annual wage and tax reports to their respective employees and contractors who have rendered their services in the year 2015. These tax reports are nothing but W-2s for employees and 1099-MISC for contractors.

W-2 Forms to SSA and 1099-MISC forms to IRS

  • Submit transmittal forms for W-2s to the Social Security Administration by January 31, 2017. That’s Form W-3, along with all W-2s and Form 1096, along with all 1099 forms. This deadline includes forms filed electronically.
  • Submit transmittal forms for 1099s to the IRS by January 31, 2017.

Automatic Social Security Extension?  Well, not anymore…

Formerly provision for extension of time with filing the Form W-2 with social security administration (SSA) was there, it has changed now. To get an extension now you have to explicitly fill out Form 8809 which is a request for an extension in filing time. The application requesting extension should also include a detailed explanation for the reasons of extension. The IRS is very selective in granting the extension and once granted it won’t be for more than a month. As per IRS guidelines extensions will only be granted under special circumstances and not to everyone.

Unemployment tax forms: 

  • The monthly payment on federal unemployment (FUTA) taxes is due January 31, 2017
  • Federal Unemployment Tax Report for 2016 is due January 31, 2017

Form 941 – Quarterly Federal Tax Form is due on or before January 31, 2017.

For a more detailed info, check