To submit the W-2 form, follow these instructions: Provide copies to employees by January 31, 2024. File Copy A with the Social Security Administration by January 31, 2024. For state and local tax submissions, check with the relevant authorities for their specific deadlines and submission methods. Submit the form via mail, online submission forms provided by the IRS, or fax if applicable. Always retain a copy for your records.

For the 2024 tax year, W-2 forms must be provided to employees by January 31, 2024. Employers must also file Copy A of Form W-2 with the SSA by January 31, 2024. For the 2025 tax year, the dates are similar: January 31, 2025, for both employee distribution and SSA filing.

The W-2 form is used by employers to report wages paid to employees and the taxes withheld from those wages. This information is essential for employees to accurately file their tax returns with the IRS. Employers must provide a W-2 form to each employee, the IRS, and state and local tax authorities. This ensures all parties have the correct information for income reporting and tax calculations. Accurately completing and submitting the W-2 form helps avoid any discrepancies or issues during tax filing and ensures compliance with federal and state regulations.

• 1. Employee's social security number: Contains the social security number of the employee.
• 2. Employer identification number (EIN): Contains the employer's identification number.
• 3. Employer's name, address, and ZIP code: Identifies the employer's relevant information.
• 4. Control number: A unique identifier for each W-2 form.
• 5. Employee's first name and initial: Contains the employee's first name and the initial.
• 6. Employee's last name: Contains the employee's surname.
• 7. Employee's address and ZIP code: Contains the employee's address and ZIP code.
• 8. Wages, tips, other compensation: Displays the total amount of wages, tips, and other compensation.
• 9. Federal income tax withheld: Shows the amount of federal income tax that has been withheld.
• 10. Social security wages: Displays wages that are subject to social security tax.
• 11. Social security tax withheld: Shows the amount of social security tax withheld.
• 12. Medicare wages and tips: Displays wages and tips subject to Medicare tax.
• 13. Medicare tax withheld: Shows the amount of Medicare tax withheld.
• 14. Social security tips: Displays tips reported to the employer.
• 15. Allocated tips: Shows tips allocated to the employee.
• 16. Advance EIC payment: Displays advance earned income credit payments.
• 17. Dependent care benefits: Shows any benefits for dependent care.
• 18. Nonqualified plans: Indicates contributions to nonqualified plans.
• 19. Statutory employee: Indicates if the employee is a statutory employee.
• 20. Retirement plan: Indicates if the employee is a participant in a retirement plan.
• 21. Third-party sick pay: Indicates if sick pay is provided by a third party.
• 22. State, Employer's state ID number: Identifies the state and employer's state ID number.
• 23. State wages, tips, etc.: Displays wages and tips subject to state tax.
• 24. State income tax: Shows the amount of state income tax withheld.
• 25. Local wages, tips, etc.: Displays wages and tips subject to local tax.
• 26. Local income tax: Shows the amount of local income tax withheld.
• 27. Locality name: Identifies the locality to which the local tax applies.

Failure to submit the W-2 form can result in various penalties and complications. It is crucial to ensure timely and accurate submission to avoid any issues.

• Penalties: Failure to submit the W-2 form on time can result in substantial fines and penalties from the IRS.
• Tax Filing Issues: Employees may face challenges in accurately filing their tax returns without the correct W-2 form.
• Compliance Challenges: Non-submission can lead to compliance issues with federal and state tax authorities.

• 1. Annual Reporting: Used annually to report wages paid to employees and the taxes withheld.
• 2. Employee Tax Filing: Provided to employees for their use in filing federal and state tax returns.
• 3. IRS Submission: Submitted to the IRS to report employee wage and tax information.
• 4. State Reporting: Used to report state income and taxes withheld to the relevant authorities.
• 5. Local Reporting: Used to report local wages and taxes withheld to local tax authorities.