Employers – including household employers – will need to file their employees’ W-2 forms much earlier next year than in previous years. The Protecting Americans from Tax Hikes (PATH) Act of 2015 was signed into law last December, and among the many provisions is a new W-2 filing deadline for employers’ 2016 forms. That deadline for submitting forms to the Social Security Administration (SSA) is January 31, 2017. That is also the date by which employees must receive their own W-2 copies, which means if there are any errors on the forms, there is no time to make corrections before they need to be filed with the SSA. It should be noted that these changes apply regardless of whether an employer submits paper forms or electronic ones.
The PATH Act also provides a safe harbor from de minimus (minor) error penalties, including relief of up to $25 for withholding errors and up to $100 for other errors.
Household employers that do their own payroll should begin preparing now for this new deadline, as the time frame in which to get any W-2s in order is now much shorter than it has been.
Using a company like our affiliate GTM Payroll Services, however, removes the burden from the employers. GTM’s service ensures their clients’ nannies and other employees get their W-2s on time, and that they get filed with the SSA on time as well.
Contact us at (518) 348-0400 for more information.