Everything you need to know about filing 1099s, W-2s, and other tax forms for your business
Overview
Form W-2 is used to report employee wages, salaries, and withheld taxes. Employers must issue W-2 forms to each employee and file with the IRS and Social Security Administration (SSA).
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The W-2 is the annual Wage and Tax Statement employers use to report earnings, Social Security, and Medicare taxes withheld.
You must file if you:
Penalties range from $50–$290 per form, with intentional disregard fines starting at $630 per form.
What is Form W-2 used for?
To report wages, salaries, and withheld taxes to employees, IRS, and SSA.
Who receives a W-2?
All employees (not contractors or freelancers).
Can I eFile W-2 forms in bulk?
Yes, bulk upload makes large filings easy.
What if I miss the deadline?
You may face penalties per employee, with higher fines for late or inaccurate filing.
What’s the difference between W-2 and 1099-NEC?
W-2 is for employees; 1099-NEC is for contractors.
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