FAQs on W-2 Forms

What are the Late Filing Penalties Associated with Form W-2?

If you fail to file a correct W-2 Form by the due date and cannot show reasonable cause, you may be subject to a penalty as provided under section 6721. The penalty applies if you: Fail to file timely, Fail to include all information required to be shown on W-2 Form, Include incorrect information on W-2 Form, File on paper forms when you are required to e-file, Report an incorrect TIN, Fail to report a TIN, or Fail to file paper Forms W-2 that are machine readable. The amount of the penalty is based on when you file the correct W-2 Form. The penalty is: $30 per W-2 Form if you correctly file within 30 days (by March 30 if the due date is February 28); the maximum penalty is $250,000 per year ($75,000 for small businesses, defined on page 11). $60 per W-2 Form if you correctly file after 30 days beyond the due date but by August 1; the maximum penalty is $500,000 per year ($200,000 for small businesses). $100 per W-2 Form if you file after August 1, or you do not file required Forms W-2; the maximum penalty is $1,500,000 per year ($500,000 for small businesses).

Related Questions

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Last modified 26 Jul 2017 17:07