(Tax Year 2024 – Filed in 2025)
Overview
Employers are required by law to issue Form W-2 (Wage and Tax Statement) to employees and file it with the Social Security Administration (SSA). These filings must happen by strict IRS deadlines. Missing these deadlines can result in serious financial penalties.
Under Internal Revenue Code § 6051, employers must report annual wages and tax withholdings. For the 2024 tax year, all W-2s must be filed and distributed by January 31, 2025, whether on paper or electronically.
W-2 Filing Deadlines (2025)
| Action | Deadline |
|---|---|
| Provide W-2 to employees | January 31, 2025 |
| File W-2 with SSA (paper filing) | January 31, 2025 |
| File W-2 with SSA (electronic) | January 31, 2025 |
| File W-2 with state/local agencies | Varies by state; generally January 31, 2025 |
Who Needs to File W-2s
Employers must file a W-2 for any employee who:
- Received wages, tips, or other compensation
- Had any income, Social Security, or Medicare tax withheld
- Received more than $600 in wages during the year
This includes:
- Corporations
- Partnerships
- Sole proprietors
- Nonprofits
- Government agencies
- Household employers (e.g., for nannies or caretakers)
IRS Penalties for Late Filing
The IRS imposes penalties if you:
- File late
- File inaccurate information
- File on paper when electronic filing is required (10 or more forms)
- Fail to file altogether
| Delay Period | Penalty per Form | Max Penalty (Small Business) |
|---|---|---|
| Up to 30 days late | $60 | $220,500 |
| 31 days late through Aug 1 | $120 | $630,500 |
| After Aug 1 or not filed | $310 | $1,261,000 |
| Intentional disregard | $630 minimum | No maximum |
Filing Requirements for Employers
- File Copy A of Form W-2 with the SSA using Form W-3 (Transmittal of Wage and Tax Statements)
- Distribute Copies B, C, and 2 to employees by January 31, 2025
- Send Copy 1 to state/local tax authorities (if applicable)
- Retain Copy D for employer records (minimum 4 years)
Employers with 10 or more forms must file electronically through the SSA’s Business Services Online (BSO).
Example Scenarios
On-Time Filing Example
An employer files all W-2s and Form W-3 by January 25, 2025. Employees receive their forms early and file their returns without delay.
- Result: Fully compliant, no penalties
Late Filing Example
An employer submits W-2s on February 20, 2025.
- Result: Subject to a $60 penalty per W-2 filed late
Step-by-Step W-2 Filing Process
- Gather employee wage and tax data
- Prepare Forms W-2 and W-3
- Distribute employee copies by January 31, 2025
- Submit W-2 Copy A and W-3 to the SSAÂ
- Electronically if filing 10 or more forms
- Send Copy 1 to state/local authorities if required
- Retain Copy D for employer records
Conclusion
The IRS does not allow deadline extensions for Form W-2. Employers must file and distribute all copies of the form no later than January 31, 2025. Accurate and timely submission protects you from costly penalties and keeps employees on track with their tax filing obligations.
Call to Action
Need help filing W-2s accurately and on time? Schedule a consultation with Anshul Goyal, CPA EA FCA to ensure your business meets all IRS and SSA filing requirements for 2025. Anshul specializes in employer compliance and payroll reporting for U.S. and cross-border entities.
Top 5 FAQs: W-2 Filing Deadlines
Do paper and electronic W-2s have different deadlines?
No. Both must be filed by January 31, 2025.
Can I request an extension for W-2 filing?
No. The IRS does not grant deadline extensions for Form W-2.
What happens if I file W-2s late?
You may incur penalties ranging from $60 to $630 per form, depending on how late the filing is.
What if I have fewer than 10 forms—can I file by paper?
Yes. Only employers with 10 or more returns must file electronically.
Is Form W-3 required with every W-2 filing?
Yes. When filing on paper, you must include Form W-3 as a transmittal summary.
About Our CPA
Anshul Goyal, CPA EA FCA is a Certified Public Accountant licensed in the U.S., and an Enrolled Agent admitted to practice before the IRS. He supports businesses with payroll compliance, IRS reporting, and state tax filing. He also advises Indian business owners and professionals in the U.S. on all aspects of U.S. tax law.
Schedule a meeting with Anshul by clicking here:
https://calendly.com/anshulcpa/
Disclaimer
This blog is for informational purposes only and does not constitute legal or tax advice. Always consult a qualified CPA or tax advisor for guidance specific to your situation.