Changes to W2 &1099 Forms for the 2016 Tax Year

Big changes for W2 & 1099 MISC Copy A due dates! 

There are also some important W2 filing requirement changes.

All W2 Copy A forms, and 1099-MISC Copy A with non-employee compensation, must be filed by January 31, 2017 for the 2016 tax year. 

New Due Date for W2 Copy A

The due date to the SSA is January 31, 2017 for W-2 Forms for tax year 2016.

This includes: W-2, W-2AS, W-2CM, W-2GU, W-2VI, W-3 and W-3SS with the SSA is now January 31, 2017, whether you file using paper forms or electronically.

You no longer get more time to e-file or print and mail copies to the SSA.

Discount Efile can help you get it all done on time, with no extra work!

Same Sex Marriage Equality

For federal tax purposes, marriages of couples of the same sex are treated the same as marriages of couples of the opposite sex.

The term “spouse” includes an individual married to a person of the same sex.

However, individuals who have entered into a registered domestic partnership, civil union, or other similar relationship that is not considered a marriage under state law are not considered married for federal tax purposes.


Extensions of Time to File

For W2 filings due on or after January 1, 2017, you may request one 30-day extension to file Form W-2 by submitting a complete application on Form 8809, Application for Extension of Time to File Information Returns, including a detailed explanation of why you need additional time and signed under penalties of perjury.

The IRS will only grant the extension in extraordinary circumstances or catastrophe.

Penalties for Safe Harbor

Forms W-2 with incorrect dollar amounts may fall under a new safe harbor for certain de minimis errors.

Higher penalties apply for: Failure to file correct Forms W-2 by the due date, Intentional disregard of filing requirements, Failure to furnish Forms W-2, Intentional disregard of payee statement requirements, The higher penalty amounts apply to returns required to be filed after December 31, 2015 and are indexed for inflation.

New due date for 1099-MISC Copy A with Non-Employee Compensation (contractors)

Public Law 114-113, Division Q, section 201, requires Form 1099-MISC to be filed on or before January 31, 2017, when you are reporting nonemployee compensation payments in box 7.

Otherwise, file by February 28, 2017, if you file on paper, or by March 31, 2017, if you file electronically.

The due dates for furnishing payee statements remain the same.

New exceptions to reporting

P.L. 114-14 (compensation for disability or survivor’s benefits for public safety officers) and P.L. 114-113 (compensation for wrongful incarceration).