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No more automatic filing extensions for W-2 forms

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in Office Management,Payroll Management

Under proposed, temporary and final regulations, you no longer will be able to request an initial automatic 30-day extension of time to file Forms W-2/W-3 with the Social Security Administration (SSA) or an additional for-cause 30-day extension, for a total of 60 days. Instead, the IRS will grant one nonautomatic 30-day filing extension for good cause only. The IRS is taking this step to combat identity theft. These regulations will go into effect with the 2017 filing season (i.e., W-2s provided for the 2016 tax year). (80 F.R. 48472, 80 F.R. 48443, 8-13-15)

SIRF's up. Identity thieves like to go where the money is. And since most taxpayers are employees, cooking up phony W-2s and filing bogus 1040s, on which hefty refunds are claimed, is par for their course. The IRS has a name for this: stolen identity refund fraud, or SIRF.

How SIRF works: Unscrupulous return preparers game the system by e-filing fraudulent 1040s at the e...(register to read more)

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