It’s officiallycrunch time. You have two small breaks this year-end season. Since Jan. 31 is a Saturday, employees must receive their Forms W-2 by Feb. 2, 2015. By the same token, paper W-2 filers must file by Monday, March 2. (E-forms must still be filed by the regular March 31 due date.)
These two one-day delays shouldn’t make a difference, because you already have everything organized and ready to go, right?
Changes to note. The Social Security Administration (SSA) is cracking down on employers that submit W-2/W-3 forms with errors.
No more Mr. Nice Guy: The SSA no longer accepts W-2 files with invalid Record Identifier codes. It will also reject files that contain these critical errors: errors in the tax year, Employer Identification Numbers (EIN), employment type and tax jurisdiction.
Key: Once a file is rejected, you become a nonfiler and that’s your headache, not the SSA’s.
W-2 files will also be rejected f...(register to read more)