Reporting Employee Earnings: The W-2 and Related Forms
This post was updated in April 2018
As many business owners know, the beginning of the new year means it’s time to send out W-2 forms. Form W-2 details wages paid to employees and taxes (income and FICA) withheld from those wages during the previous tax year. Employers must send copies of completed W-2 to the Social Security Administration, local and state tax offices if applicable, and to their employees by January 31st, 2018. Employees will use their W-2 to fill out sections of their Form 1040 tax return related to earned income.
Are you an employer who needs to fill out this year’s W-2 forms? Each tax season tens of thousands of business owners use PDFfiller’s convenient editing tools to fill out and sign their W-2 forms online quickly and efficiently. Click here to start filling out this year’s W-2 online with PDFfiller. For more on how employers should prepare a W-2, you can watch the following video.
What about the W-2C and W-2G?
Forms W-2C and W-2G are both related to the regular W-2, though in very different ways. Employers complete a Form W-2C if the original W-2 submitted to the SSA contained incorrect information. W-2C must be filled out and submitted to the SSA as soon as any W-2 mistakes are discovered.
In the same way that the W-2 reports wage income, Form W-2G reports winnings from various types of gambling, such as slot machines or horse racing. W-2G also reports federal tax withheld from those winnings. Casinos and other organizations that conduct gambling activities must fill out a W-2G and provide a copy to the winner, as well as to the IRS.
Remember, you can use PDFfiller to fill out, sign, and send many of the tax documents you’ll need for the 2018 tax season. Stay tuned for more information and tax tips to make filing your business taxes this year a snap!