Act this month to dodge penalties for W-2 problems

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in Office Management,Payroll Management

Procrastinators beware: Aug. 1 is rapidly approaching. That’s when penalties more than triple, from $30 to $100 per form, up to $1.5 million, for these W-2 indiscretions: failing to file 2013 W-2s in the first place or filing incorrect 2013 W-2s that you haven’t yet corrected.

Incorrect W-2s are corrected by filing Forms W-2c/W-3c with the Social Security Adminis­tration.

Reminder: Typical W-2 mistakes, W-2c correction tips and specifications for formatting e-files were covered here.

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