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29-Nov-2017 07:33

A W-2 form is a statement that must be prepared by employers each year for employees, showing the employee's total gross earnings, Social Security earnings, Medicare earnings, and federal and state taxes withheld from the employee.The purpose of this form is to provide the employee with information that must be included on his or her income tax form.

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Before you send off those forms to employees, check for these common errors.You can generate the number yourself, or your payroll preparation software may generate this number.The information for this form comes from your payroll register, which shows year-to-date totals for each employee for wages and withholding, along with deductions for medical plans, health savings accounts, and other items.Yes, you must file W-2s with the Social Security Administration(SSA) by the same deadline as you provide forms to employees. You can't just copy the W-2 form from the internet.

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As noted above, Copy A of the form is printed on special paper. You can get the official W-2 forms from a copy shop, from some tax software programs (look for the small business version), or from your tax preparer.

The 2018 annual payroll tax report deadlines for 2017 tax payments show the exact deadlines for the current year.



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