There are many common errors Form W-2 to look out for when getting ready to submit your filing.
Once you have:
- Determined who must receive a Form W-2
- Collected your company information;
- Collected your employee information;
- And finalized and collected the amounts to be reported
You should have everything you need to complete and file your Forms W-2.
However, before you submit your filing, you should take a moment to review your information and forms for accuracy in order to avoid potential penalties or other problems.
Common Errors Form W-2
Some common errors when completing Form W-2 include:
Using the wrong institution’s form.
Do not download Copy A of Form W-2 from IRS.gov and file with the SSA. In fact, with BoomTax, you don’t have to worry about downloading any forms from the IRS or SSA at all. By filing electronically through BoomTax, you allow us to generate the proper forms for you and submit them to the correct institution.
Omitting decimal points and cents from monetary entries.
Make sure to include the total amount to be reported, as well as the decimal points.
Misformatting the employee name.
Always review the spelling of your employees’ names when entering them into the Form W-2. If you are unsure or otherwise doubt the spelling you entered, it’s always best to double check with the employee(s) in question by reviewing or requesting another Form W-4.
Leaving out or entering an incorrect TIN number.
If you fail to provide the correct Taxpayer Identification Number (TIN) for the employer or employees, you could receive a B & P Notice and be subject to fines or penalties.
You should also verify the employer and employee TIN numbers. You can do this by consulting their documentation. You can also utilize tools like TINCorrect to double-check that the information provided to you matches the information on file with the IRS.
Other general errors Form W-2
Completing the W-2 forms on your own by paper could result in simple errors such as using ink that is too light, inserting font that is too large or too small, or mis-formatting data.
With BoomTax, you can avoid or minimize such simple errors Form W-2 with guided help along every step of the way.
Need More Information?
Now that you know about these common errors Form W-2, it will be easy to avoid them!
For more information on Form W-2 filing, please view the IRS Instructions or check out our other blog posts linked below:
- Form W-2 Guide
- Prepare Form W-2
- Distribute Form W-2
- Who Receives a Form W-2?
- W-2 Deadlines
- TY 2018 Penalties
- W-2 State Reporting Guide
- Form W-2c Guide
- W-2 vs. 1099-MISC: How to Report Wages
- How to Correct Form W-2 Using Form W-2c
If you have any further questions, concerns, or comments about our product, feel free to contact us and customer support representative will reach out to you promptly.
BoomTax, The Boom Post, and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors prior to engaging in any transaction.