W-2 Deadlines for 2019
The following table will help you to remember all the W-2 deadlines for sending W-2 forms to the employees and for paper filing or e-filing them with the SSA.
|Issuing W-2 Forms to the employees||January 31, 2020|
|Filing to SSA by Mail||January 31, 2020|
|Filing to SSA Electronically||January 31, 2020|
W-2 Penalties for Late Filing for Small Businesses
It’s important for the employers to send W-2s to their employees and file them to SSA before the W-2 deadline otherwise heavy penalties for late submissions or wrong information will be imposed.
The penalties range from $50-$530 per missed W-2 tax form, depending on how late the forms were submitted.
|W-2 Penalties||Length of Delay|
|$50 per return/$187,500 maximum||If you file the correct form within 30 days of the due date|
|$110 per return/$536,000 maximum||If you file between 31 days of the due date and August 1|
|$270 per return/$1,072,500 maximum||Filing on or after August 1st, 2020|
|$550 per return/No limitation||Intentionally neglecting to file|
1099 Deadlines for 2019
The January 31st deadline only applies to Form 1099-MISC with an amount in box 7, Nonemployee Compensation. The filing due date for other Forms 1099 & 1096 remains February 28th, 2020 if filing by paper, and March 31st, 2020 if filed electronically.
|Form||1099 Due Date to Recipients||Filing to IRS By Mail||E-Filing to IRS|
|1099-MISC (NEC Only)||January 31, 2020||January 31, 2020||January 31, 2020|
|1099-MISC (Other Forms)||January 31, 2020||February 28, 2020||March 31, 2020|
|1099-DIV||January 31, 2020||February 28, 2020||March 31, 2020|
|1099-INT||January 31, 2020||February 28, 2020||March 31, 2020|
|1099-R||January 31, 2020||February 28, 2020||March 31, 2020|
Penalties for Late Filing
The penalties range from $50-$550 per missed 1099 tax form, depending on how late the forms were submitted.