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W-2 penalty box

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in Office Management,Payroll Management

For 2017, penalties for failing to file correct W-2s, 1095s and 1099s, or to provide recipients with correct statements, increase as follows:

  • The penalty for filing correct forms within 30 days remains $50. The calendar year maximums increase to $536,000 (from $529,500) and to $187,500 (from $185,000) for small employers
  • The penalty for filing correct forms after the 30-day deadline, but by Aug. 1, remains $100. The calendar year maximums increase to $1,609,000 (from $1,589,000) and to $536,000 (from $529,500) for small employers
  • The penalty for failing to file correct forms after Aug. 1, remains $260. The calendar year maximums increase to $3,218,500 (from $3,178,500) and to $1,072,500 (from $1,059,500) for small employers
  • The minimum penalty for a failure to file due to an intentional disregard of the filing requirements increases to $530, from $520. (Rev. Proc. 2016-55, IRB 2016-45)

A step-by-step payroll compliance guide to each pay period, month and calendar quarter of the year is now available. Download it free here.

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