W-2s, W-3s, 1099-NEC, Information Returns Due Date: January 31 - YouTube video text script

If you are an employer, here's an important filing deadline reminder. The law requires you to file a copy of the W-2 forms you give to your employees by January 31st. And you are also required to file the W-3 forms.

Remember you need to send these forms to the Social Security Administration. In addition, if you paid an independent contractor for their services, you will need to file a Form 1099-NEC for reporting non-employee compensation by January 31st. The Form 1099-NEC replaces the Form 1099-Miscellaneous you used in the past.

Be sure to send this form along with Form 1096 to the IRS.

The January 31st deadline helps us prevent fraud because we can match taxpayers' returns with your records more quickly. Here are some tips to help you file these forms on time and avoid penalties.

Consider choosing the accuracy, speed, and convenience of electronic filing. Note that in some cases you are required by law to file these forms electronically. In addition, before the end of the year, make sure your employees' or independent contractors' information is correct. This includes names, addresses, and most importantly, taxpayer identification numbers. For most people, this means their Social Security number. Also double check your information with SSA and with any agency you rely on to complete W-2s. If you need paper forms, order them early.

If a payroll service files your forms, make sure they have the information they need to file your forms on time. Remember, extensions for filing W-2s are not automatic. They are only allowed for very specific hardships, such as disaster related damage to your records.

You can get details about extensions on Form 8809 and information on other forms at IRS.gov/forms.