In the hustle and bustle of year-end, even seasoned pros can overlook critical items. But you overlook W-2 formatting and filing errors at your peril.
Reminder: Beginning with forms filed next year, penalties for failing to timely file correct forms are more than doubling in many instances. So it pays to get your W-2s right the first time. Here’s help.
Step No. 1: Avoid common W-2 errors. Most W-2 errors are avoidable.
Bad: The Social Security Administration (SSA) will reject error-ridden submissions.
Key: Once a file is rejected, you become penalty bait as a nonfiler. The SSA’s Accuwage app checks your W-2s before you file them. It will also stop working if it finds many errors, thus preventing you from filing seriously incorrect forms in the first place. Point your browser to http://tinyurl.com/ssaaccuwage for this year-end app.
RESPONDING TO REJECTS: If you receive a rejection notice from the SSA in your email inbox, you ...(register to read more)