New Due Date for Filing Forms W-2/W-3 and Form 1099-MISC.

accountantNow is a great time to verify that you have the correct information for your employees and contractors, so that processing W-2s and 1099-MISCs will flow smoothly in January. The new due date for remitting your W-2s and W-3s to the Social Security Administration is January 31st. An extension for filing W-2s is no longer automatic, but extensions can be requested with Form 8809, Application for Extension of Time To File Information Returns.

Government copies of Form 1099-MISC will also be due on January 31st if you’re reporting nonemployee compensation payments in Box 7 (this applies to both paper and electronic filing). If there isn’t an amount for nonemployee compensation, then Form 1099-MISC will be due on February 28th when filed by paper, or on March 31st if filed electronically. The deadline for issuing copies to the recipient is still January 31st.

There are penalties for failure to file the W-2 or 1099-MISC by their due date, so gather your required information as soon as possible!

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