Changes to W2 &1099 Forms for 2023
MAJOR E-FILING CHANGES
If you have 10+ W2 and 1099 forms, combined, per EIN, you MUST electronically file Copy A with the IRS and SSA for the 2023 tax year!
This requirement change will affect most businesses – and penalties apply if you don’t e-file – up to $300 per form!
Discount Efile makes it easy to e-file on time, plus print and mail recipient copies in one easy step.
1099 Changes for 2023
1099 Form Due Dates for 2023.
The 1099NEC forms must be mailed to recipients and e-filed or mailed to the IRS on or before January 31, 2024.
For other 1099s, file by February 28, 2024, if you file on paper, or by March 31, 2024, if you file electronically.
The due dates for furnishing payee statements remain the same.
New E-Filing Requirements
The IRS is has changed the e-filing threshold to 10+ total 1099 & W2 forms per payer for the 2023 tax year.
DiscountEfile.com helps you get it all done, easily!
Efiling Changes
Official IRS Statement Regarding 1099 & W2 Efiling Requirements for 2023
Regulations section 301.6011-2 was amended by Treasury Decision 9972, published February 23, 2023, which lowers the threshold to 10 for which employers must file certain information returns electronically, including Forms W-2, W-2AS, W-2GU, W-2VI, and Form 499R-2/W-2PR (collectively Forms W-2), but not Form W-2CM.
To determine whether they must file information returns electronically, employers must add together the number of information returns (see the list below) and the number of Forms W-2 they must file in a calendar year. If the total is at least 10 returns, they must file them all electronically.
The new threshold is effective for information returns required to be filed in calendar years beginning with 2024. The new rules apply to tax year 2023 Forms W-2 because they are required to be filed by January 31, 2024.
The following information return forms must be added together for this purpose: Form 1042-S, the Form 1094 series, Form 1095-B, Form 1095-C, Form 1097-BTC, Form 1098, Form 1098-C, Form 1098-E, Form 1098-Q, Form 1098-T, the Form 1099 series, Form 3921, Form 3922, the Form 5498 series, Form 8027, and Form W-2G.
Dateless 1099 Format
Most 1099 forms were changed to a dateless format in 2022.
This means you will need to fill in the year on each form when printing any copy. Be sure your software is updated annually to ensure the proper year is printed on each form.
1099 Rules that can make or break you
W-2 Changes for 2022
Due Date for W2 Copy A
January 31, 2024 is the deadline for W-2 Forms for tax year 2023.
This includes: W-2, W-2AS, W-2CM, W-2GU, W-2VI, W-3 and W-3SS with the SSA. The due date is now January 31 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.
New E-Filing Requirements
The IRS is has changed the e-filing threshold to 10+ total 1099 & W2 forms per payer for the 2023 tax year.
DiscountEfile.com helps you get it all done, easily!
E-file Changes
Official IRS Statement Regarding 1099 & W2 Efiling Requirements for 2023
Regulations section 301.6011-2 was amended by Treasury Decision 9972, published February 23, 2023, which lowers the threshold to 10 for which employers must file certain information returns electronically, including Forms W-2, W-2AS, W-2GU, W-2VI, and Form 499R-2/W-2PR (collectively Forms W-2), but not Form W-2CM.
To determine whether they must file information returns electronically, employers must add together the number of information returns (see the list below) and the number of Forms W-2 they must file in a calendar year. If the total is at least 10 returns, they must file them all electronically.
The new threshold is effective for information returns required to be filed in calendar years beginning with 2024. The new rules apply to tax year 2023 Forms W-2 because they are required to be filed by January 31, 2024.
The following information return forms must be added together for this purpose: Form 1042-S, the Form 1094 series, Form 1095-B, Form 1095-C, Form 1097-BTC, Form 1098, Form 1098-C, Form 1098-E, Form 1098-Q, Form 1098-T, the Form 1099 series, Form 3921, Form 3922, the Form 5498 series, Form 8027, and Form W-2G.
Good News!
There were no major changes to W2 forms for 2023.