W-2 Deadline, Penalty, & Extension for 2022/2023

W-2 Deadline

The W-2 deadline for furnishing copies to employees, paper filing, or E-filing to SSA is January 31st, 2023. What is the W-2 Form deadline — Form W-2 is an annual payroll report that shows the amount of taxes withheld from the employee’s paycheck for the year and is used to file federal and state taxes.

As 2023 has already started, it is important for all employers to issue Form W-2 to their employees without any delay so they can start preparing their annual tax returns. And, as an employer, you must also file copies of W-2s to the Social Security Administration (SSA), along with Form W-3 (a transmittal summarizing the W-2s); and state government so the governments can check tax returns for accuracy.

W-2 Deadline for 2022

The following table will help you to remember all the W-2 deadlines for sending W-2 forms to the employees and for paper filing or e-filing them with the SSA.

The W2 due dates for furnishing copies to employees, paper filing, or E-filing to SSA are the same i.e. January 31st, 2023.

  • You must furnish Copies B, C, and 2 of Form W-2 to your employees by January 31, 2023.
  • The due date for filing Forms W-2 and W-3 with the SSA is now January 31, 2023, whether you file using paper forms or electronically.

W2 Due Date

W-2 Penalties for Late Filing for Small Businesses

It’s important for employers to send W-2s to their employees and file them to SSA before the W-2 deadline otherwise heavy penalties for late submissions or wrong information will be imposed.

The penalties range from $50-$580 per missed W-2 tax form, depending on how late the forms were submitted.

In the above case, the IRS considers you to be a small business if you’ve earned an average of $5 million or less in annual revenue for the past three tax years. For more information, refer IRS website.

W-2 Extension

You can ask for a 30-day extension from the IRS by filing Form 8809, Application for Extension of Time to File Information Returns if you think you will miss the deadline. However, the extension is not automatic and it will be granted only in “extraordinary circumstances or catastrophe.” If you suffer from a natural disaster such as a hurricane, flood, tornado, or your books and records are destroyed by a fire, then you will get a favorable response to your extension request.

The reason for the extension should be explained clearly on Form 8809 and it must be signed under penalty of perjury.

It will be best if you file Form 8809 between January 1 and January 31 or as early as possible when you need an extension.

Note: You cannot request a second extension.

For more information, refer to IRS Guide for General Instructions for Forms W-2 and W-3.

We hope you will be feeling prepared, informed, and ready to send W-2s to your employees and SSA before the W-2 deadlines. Along with all the features needed for processing payroll efficiently for your small business, CheckMark Payroll allows you to Print or E-file W-2s & W-3s to the SSA and most states at no additional cost. You can also print completed Forms 941,940, 944, 943, W-2, and W-3 forms on blank or pre-printed forms.

Depending on your requirement, if you are filing 250 or more forms for the calendar year, then e-filing is a must. Else, you can paper file and mail to IRS for less than 250 forms.

If you have any questions about the W-2 filing, you can reach us at any time. We’d be happy to help you out.