With tax season in full swing, everyone is busy in staying compliant with the federal & the respective State. Probably you are one of them with a number of Tax Forms to file and taxes to deposit.

No matter whether you’re preparing your tax returns on your own or having your returns prepared with the help of tax professionals, you should have a basic understanding of the tax forms.

Are you looking to know about the upcoming tax Form deadline and also looking for that Form details?

W2 tax season is around the corner. If you’re looking to learn more about Form W-2, here’s what you need to know.

Form W2, Wage and Tax Statement:

The threshold for providing a information on Form W-2 to the IRS is based on the wages you paid to the employees. Every employer who pays at least $600 in cash or cash equivalent, including taxable benefits to an employee must issue a Form W-2.

The copies of Form W2:

Here is the list of six copies of Form W-2:

Copy A – Submitted by the employer to the SSA.

Copy B – To be sent to the employee (For employees’ federal income tax returns).

Copy C – For the employee’s records.

Copy D – For the employer’s records.

Copy 1 – For state or local income tax returns.

Copy 2 -To be filed with the employee’s state or local income tax returns.

2018 Form W2 deadline:

January 31, 2019, is the deadline to submit Copy A of each W-2 form to the SSA & issue Copy B of each W-2 form to the employees.

Many states have a January 31 deadline for filing Copy 1 of Form W-2.

Filing Form W-2 late has a lot of consequences. If you do not submit Forms W-2 to the SSA/Employees/State on time with correct information, you will have to pay penalties.

Electronic Filing Criteria:

If you file 250 or more Forms W-2 during a calendar year, you must file w2 Online. (You may be charged a penalty if you fail to file electronically when required)

How TaxBandits Simplifies the E-filing of W2 Forms?

As an IRS-authorized e-file provider, TaxBandits helps you to securely and easily efile w2 forms directly with the IRS/SSA. You can even file the W2 forms with the respective State. Also, TaxBandits take care of printing & postal mailing the W2 copies to your employees’ on behalf of you and reduces your burden. You can always correct the W2 forms easily if you make any errors on previously filed returns through TaxBandits.

You need to attach the W3 transmittal Forms along with the W2 forms you filed with the IRS/SSA. W-3 Forms are generated automatically for your record if you file W-2 forms with TaxBandits.

You can also file other Federal tax forms such as 941/940/944, 941/940 Schedule R, 1099-MISC/INT/DIV/R/S/B, 1095-B/C.

Learn More about TaxBandits e-filing Software and its supported Forms by visiting https://www.taxbandits.com/.