This quick overview goes into more details on what’s new for 2021 filing including reporting details.
As you know the Form W-2 is the wage and tax statement. It reports an employee’s annual wages and how much tax was withheld from their paycheck. Employers are required to send W-2s to employees and to the Social Security Administration. The deadline to send a W-2 to an employee and to the SSA January 31 of the following year – for tax yea 2021, it’s Monday January 31, 2022. W-2s are NOT to be used for contractors, vendors or other non-employee payees.
Check out this recording of Greenshades Software year-end forms webinar series discussing everything you need to know about W-2s. In this playback you will learn a basic definition and use of the W-2, new year changes, how to report FFCRA wages and more. Employers should issue W-2 Forms no later than Jan. 31, 2021 so check out this video for tips and best practices.
We are rolling out dozens of webinars from compliance changes to year-end forms, tips & tricks, and more. For more information about year-end events, click here!