W2 Forms IRS Form W-2 Deadline for Tax Year 2023 Revealed!

Image of Form W2 2023

Frequently Asked Form W-2 Questions

What are the 2024 deadlines for Form W-2?

  • January 31st, 2024
    Recipient Copies/Paper/E-file

    Form W-2 must be distributed by the employer to the recipient on or before January 31st

    Form W-2 must be mailed or E-Filed to the SSA on or before January 31st

Note: The deadline is typically the next business day if the deadline falls on a weekend or federal holiday.

What is the procedure for submitting Form W-2 for the 2023 tax year?

To submit Form W-2 for the 2023 tax year, you must either paper-file it with the IRS or electronically file it through an authorized e-file service provider. In addition to Form W-2, employers may need to submit Form W-3, which summarizes all employees' W-2 forms. However, Form W-3 is only required when paper-filing W-2 returns.

When e-filing with BoomTax, you don't have to worry about submitting Form W-3, as we will handle your W-3 submission for you. You can e-file Form W-2 in minutes with BoomTax and receive instant notifications from the SSA.

All Features Included

Purchasing any BoomTax package will give you everything you need to complete your filing.

This includes:

  • Federal E-File
  • State E-File
  • Recipient Copy Download as PDF
  • Official IRS Copy Download as PDF
  • Unlimited Corrections

W-2 Bulk Import

Import many companies in one spreadsheet to simplify data input.

Data Validation

We validate your data against hundreds of IRS rules.

Hands Off E-File

No IRS registration or testing required.

Free Corrections

Make as many changes as needed for free.

What is the Penalty for Missing Form W-2 Deadline for 2024?

Failing to file Form W-2 by the deadline or meeting the deadline but providing incorrect recipient information can result in IRS penalties ranging from $60 to $630, depending on how late the form is submitted.

The IRS has increased these amounts for the 2024 filing year.

After the deadline but within 30 days

$60 per form

up to

$220,500 per year (smaller businesses)

$630,500 per year

After 31 days - August 1st

$120 per form

up to

$630,500 per year (smaller businesses)

$1,891,500 per year

After August 1st, or not at all

$310 per form

up to

$1,261,000 per year (smaller businesses)

$3,783,000 per year

Intentionally Not Filing

$630 per form

no maximum penalty

W-2 penalties may be subject to the following:

  • Furnishing incorrect information on a return
  • Failure to provide the required information
  • Late filing of returns
  • Paper filing when required to file electronically (E-file W-2 if you have 10 or more information returns)
  • Not sending in corrections
  • Select the correct form
  • Invalid TIN
  • Not sending employee copies promptly

Discover more about IRS penalties by visiting the penalties breakdown.

E-filing vs. Paper Filing

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  • Immediate real-time IRS updates
  • File 1000s of forms easily at once
  • Validates 1000s of IRS rules
  • Can help with questions in real-time in the chat

Paper Filing

  • It can take weeks to hear a status update
  • Requires unique red ink form
  • Prone to human error
  • No expert to help with questions

Note: SSA recommends that payers utilize the e-file option over paper filing for faster processing and immediate updates.

How can I file before the Form W-2 deadline?

Choose an IRS-authorized e-file service provider like BoomTax and file your Form W-2 seamlessly before the deadline. BoomTax offers a user-friendly dashboard for employers to manage forms, track filing status, and perform TIN matching all from one account. Being cloud-based, you can access your account from anywhere, anytime, without any issues.

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