You are required to prepare and file a Form W-2 for each employee to whom you made payments for services where:
- You withheld any amount of income tax, social security tax, or Medicare tax from the employee’s wages, regardless of the amount of wages, or
- You would have had to withhold income tax if the employee had claimed no more than one withholding allowance or had not claimed exemption from withholding, or
- You paid $600 or more of wages, even if no income, social security, or Medicare tax was withheld.
The Forms W-2 must be submitted to the IRS and any state and local governments on whose behalf income tax has been withheld and provided to the employees by January 31, 2020. You must also file Form W-3 along with the Copy A of the Forms W-2 submitted to the IRS. If you are filing 250 or more Forms W-2, the forms must be submitted to the IRS electronically.
Please contact Edwards, Ellis & Associates office if you need assistance preparing any W-2s.
