Legal Question in Tax Law in Nebraska

W-2 deadline

I work for an employer who has still not prepared our W-2's. Can you tell me what penalties are involved if an employer does not meet the Jan 31 deadline for mailing out W-2's?

Asked on 2/06/09, 10:43 am

1 Answer from Attorneys

Monte Schatz Attorney at law

Re: W-2 deadline

Furnishing Statements to Employees

You must furnish W-2 statements to employees by the end of January each year (February 2 for 2009). These W-2 statements must be complete and accurate. If you fail to furnish the statements in a timely manner, or if your errors or omissions are "consequential," the IRS may impose a penalty on you. "Consequential," as defined by the IRS, means relating to a dollar amount, a significant item in the payee's address, or a missing or incorrect Taxpayer ID Number (TIN).

The penalty for a failure to furnish a W-2 is $50 per statement, no matter when the correct statement is furnished.


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Answered on 2/06/09, 2:04 pm

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