New Filing Deadlines for W-3s & W-2s, 1096s & 1099s

Starting in 2017, the filing deadline for 2016 Form W-3s & W-2s to the Social Security Administation (SSA) and 2016 Form 1096s & 1099s to the Internal Revenue Service (IRS) has changed due to provisions under the Protecting Americans from Tax Hikes Act of 2015 or PATH Act.

While businesses are still required to furnish W-2s to employees and 1099s to recipients by January 31st, the due dates to submit/file copies to the SSA and IRS; respectively, have been moved up.

In prior years, the due date for filing paper copies of W-3s and W-2s to the SSA and 1096s and 1099s to the IRS was February 28th and for filing electronically, the due date was March 31st.

Under the PATH Act, W-3s and W-2s are now due to the SSA by January 31st regardless of whether filing by paper or electronically. Likewise, 1096s and 1099s are due to the IRS by January 31st regardless of whether filing by paper or electronically IF you made payments for non-employee compensation (Form 1099, Box 7). In addition, the 2016 Form 1096 includes a box that must be marked if any 1099s include payments for non-employee compensation. If there are no payments for non-employee compensation, the due date for filing 1096s and 1099s to the IRS by paper remains February 28th and the deadline for filing electronically remains March 31st. Note: Form 1096 is only required if you file your 1099s by paper. It is not required for electronic filing of 1099s.

It is important to make note of the new due dates as penalties may be assessed for failure to submit these forms in a timely manner to the respective agencies.

You can learn more by visiting the SSA website at http://www.ssa.gov and the IRS website at http://www.irs.gov or by consulting with your Accounting or tax professional.

 

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