Form W-2, Wage and Tax Statement is the mandatory tax form for all employers that are used for reporting income paid to employees and taxes withheld from this income. For the 2022 tax season, employers need Form W-2 that reports 2021 taxes. So, you’ll need to fill out Form W-2 with the 2021 label on it.
There are multiple copies you need to file for:
- Social Security Administration
- State, City, Local Tax Department
Employees that obtained their Form W2 can proceed to file their federal income tax returns as their income is reported on the form along with the taxes they’ve paid during the tax year through federal income tax withholding. Since employees count on their employers to receive Form W2, employees have a deadline to file this tax form. Generally, it’s best to file Form W2 by the start of the tax season, but the deadline to file is as follows.
- January 31st for furnishing copies to employees
- February 28th for State, City, and Local tax departments and Social Security Administration for paper Forms W-2.
- March 31st for State, City, and Local tax departments and Social Security Administration for electronically filed Forms W-2.
If Form W-2 is filed late, there are late filing penalties. The late filing starts from $50 and goes up to $540.
Employers will pay $50 per Form W-2 that’s filed late within 30 days after the original deadline. The penalty increases to $110 for Forms W-2 filed before August after the 30 days. Those who willfully ignore to file Form W-2 pay $540 per violation. The maximum penalty for Form W2 violations is $536,000 or $187,500 for small businesses.
File Form W2 online for the 2022 tax season
There are several ways you can file Form W-2. The easiest way is through a tax preparation service where you will also handle everything else, such as filing the forms with state tax departments and Social Security Administration. If you’re planning on mailing these tax forms to the respective departments and furnish paper copies to your employees, filing it online makes a lot more sense as it will be less prone to errors, and you’ll get it done much quicker.
Use TaxUni PDF editor to fill out Forms W-2 to report 2021 income and taxes withheld so that your employees can file their tax returns without any problem in the 2022 tax season. Start filing Form W-2 to report income paid before the tax season 2022 starts.
Frequently asked questions about Form W-2
How to get my Form W-2?
Your employer should furnish you with a copy of your Form W-2 by the January 31 deadline. If he or she hasn’t done that yet, contact your boss or the payroll department of the company to ask the whereabouts of your W-2. If you’re wondering how to get your Form W-2 from a former employer, the same applies. However, you may not get your W-2 from a former employer right away when you stop working. It’s best to wait until the end of the tax year and take action if it doesn’t arrive.
How to fill out Form W-2?
Form W-2 is a fairly easy tax form, and you already have the majority of the information you need to enter on the form. Take a look at your employee’s last pay stub and enter the amounts as seen. If you’re having troubles with identifying the boxes that report different information, use our instructions to file Form W-2 for the 2022 tax season.
What to do if you don’t receive Form W-2?
Sometimes our employers may not be as responsible as they need to be. This can create certain problems for us. If your employer hasn’t furnished you with a copy of your W-2, you can use the substitute form for it, Form 4852. However, you must wait for at least 14 days after the original filing deadline for Form W-2, which is January 31st. So, you can file Form 4852 to file your federal income tax return, but you must file a paper tax return as 4852 cannot be filed electronically.