Change in W-2 and 1099-MISC Due Dates

December 15, 2016

Starting with the 2017 tax season, the House passed The Protecting Americans from Tax Hikes Act of 2015 (or the Consolidated Appropriations Act), which moves up the deadline for filing copies of 2016 Forms W-2 and 1099-MISC (if you are reporting non-employee compensation in Box 7) one month from the end of February to January 31. The deadline for providing employees with Forms W-2 and 1099-MISC remains January 31, but the transmittal deadline is now the same date—January 31. The purpose of this new deadline is to allow the IRS to match W-2s with tax returns as they are filed to reduce fraud and identity theft.

The impact of this law on employers means that they need to be ready to complete year-end tasks quickly and before January 31.  These tips can help you prepare:

  • Review all employee files to make sure you have up-to-date addresses and Social Security numbers.
  • Ensure any and all 1099-MISC contractors have completed and signed a W-9 with their current identification information.
  • Check that your accounting system is ready to handle the deadline change.

If you have questions or need assistance in planning and managing this change, please contact us.

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