All W2´s must be postmarked by January 31, 2006 per Federal Regulations. You give this to your employees, who use it in filing their tax returns. It tells how much compensation the employee received during the past year, and how much was withheld for various taxes. Copies go to the state and federal government.
The counterpart of the W2, the W3 form, must be sent to the Social Security Administration by February 28th along with copies of all W2’s.
For IRS instructions on these two forms, visit http://www.irs.ustreas.gov/pub/irs-pdf/iw2w3.pdf.
Now I understand it is quite late to be thinking about this now, and I would certainly hope that minimally, you have ordered and received your forms. However, I do understand that there are quite a few procrastinators out there, so if this is you call Deluxe Forms (1-800-328-0304) immediately and get your order placed! For future reference, their website is http://www.deluxeforms.com. They carry a huge selection of forms that work with most software programs and I highly recommend them.
It is, as always, very important that you comply with government regulations regarding tax issues, as you could face penalties.
Please contact me by email should you have any questions regarding this information.
Once again, happy taxation!!
“No nation ever taxed itself into prosperity.” ~ Rush Limbaugh