Penalties for Tax Year 2018 ACA, 1099 and W-2 Reporting

Take active measures to avoid paying penalties for Tax Year 2018 by planning ahead, keeping track of your deadlines, and double-checking your information. If you fail to timely file your information returns or file them incorrectly, you could be liable for additional fines or fees.

Continue reading Penalties for Tax Year 2018 ACA, 1099 and W-2 Reporting

Prepare, Distribute, File: The BoomTax Quick Guide for TY2018

Another tax year, another filing season! With BoomTax, you don’t have to spend endless hours laboring over getting your filings prepared and submitted to the IRS. We’ve designed our process to be as simple as possible to get your ACA, 1099, and W-2 filings timely transmitted to the IRS.

Whether you’re brand new to BoomTax or have been a long-time customer, we’re always happy and eager to help you with your tax filing needs. We’ve put together a brief overview of how to timely prepare, distribute, and file your tax forms using BoomTax. Continue reading Prepare, Distribute, File: The BoomTax Quick Guide for TY2018

Form W-2 Reporting Deadlines TY2018

SSA Deadline for Form W-2 Reporting

The deadline for filing 2018 Forms W-2 with the Social Security Administration (SSA) by paper or electronically is January 31, 2019.

If you are or think you will be unable to submit your Form W-2 reporting by the deadline, you should request an extension as soon as possible by submitting a Form 8809, Application for Extension of Time to File Information Returns. Automatic extensions are no longer granted by the SSA.

Please note that if you have over 250 Forms W-2 to file, they must be submitted electronically.

Employee Copy Deadline for Form W-2 Reporting

The deadline for furnishing employee copies of Form W-2 is January 31, 2019.

There are a few exceptions to this deadline, including:

If an employee was terminated before December 31, 2018, copies may be furnished to the employee at any time after the employment ends, but still no later than January 31, 2019.

Copies must also be furnished within 30 days of the Form W-2 being requested by the employee or within 30 days of their final wage payment.

Forms may be distributed by paper or electronically, but only if the employee has consented to receive the form electronically.

State Deadlines for Form W-2 Reporting

In addition to submitting to the SSA, you should be aware of your state or locality’s W-2 reporting requirements. W-2 requirements vary by state.