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New Due Date of January 31 for Employers to Provide W2s & 1099s

New Due Date of January 31 for Employers to Provide

W2s & 1099s

 

The IRS has a new due date requirement of 1/31/17 for employers to provide W2s & certain 1099s to employees & contractors.  Traditionally, 1099s were allotted more time to be delivered. This has changed for 2017 (tax year 2016).  Here are some more popular forms that must be released by 1/31 from the IRS website:

Reporting Due Dates

Generally, employers must report wages, tips and other compensation paid to an employee by filing the required form(s) to the IRS. You must also report on the taxes you deposit.

By January 31 (Note new due dates for Tax Year 2016 Form W-2, Wage and Tax Statement, and Form 1099, Miscellaneous Income with Box 7 entries)

 

 

By February 28

  • File Copy A of paper Form 1099, other than those with entries in box 7, (see By January 31 above,) with Form 1096, Annual Summary and Transmittal of U.S. Information Returns, with the IRS. For electronically filed returns, see By March 31 below.
  • File paper Form 8027, Employer’s Annual Information Return of Tip Income and Allocated Tips, with the IRS. See section 6 of Publication 15.  For electronically filed returns, see By March 31 below.

By March 31

  • File electronic Form 1099, other than those with entries in box 7, (see By January 31 above,)
  • and electronic Form 8027 with the IRS. (See Publication 1220 for help in electronically filing Forms 1099 and Publication 1239 for help in electronically filing Forms 8027.)

By April 30, July 31, October 31, and January 31

 

Get Ready Today to File Your 2016 Individual Income Tax Return (Publication 5273)

The IRS has significantly strengthened its security measures with regard to filing individual and business income tax returns in light of the large increase in identity thefts and fraudulent returns that have been filed.  Please click this link to Publication 5273 to review some new steps the IRS has implemented to try to protect taxpayer information.