2016 Recent IRS Changes

1099-MISC Filing Deadline Change

✔ If entering data in Box 7, the filing deadline is January 31, 2017, regardless of paper or electronic filing method

✔ If no data in Box 7, the paper filing deadline is February 28, 2017, and the electronic deadline is March 31, 2017

✔ No change to the January 31 due date for recipient copies

 

W-2 Filing Deadline Change

 2016 forms must be filed with the SSA by January 31, 2017, regardless of using paper or filing online

 Previous e-file deadline was March 31

 

W-2 Extensions

Extensions to file are no longer automatic and one 30-day extension may be requested

 Application Form 8809 must be used along with a detailed explanation on why additional time is needed

 IRS will only grant extensions for extraordinary circumstances or catastrophe

 

W-2 Penalties

✔ $50 per W-2 if the forms are filed within 30 days of the due date

✔ $100 per W-2 if the forms are filed more than 30 days after the due date but before August 1

✔ $260 per W-2 if the forms are filed after August 1, corrections are not filed or the W-2 is not filed at all

See attached pdf for complete list of IRS/SSA Deadlines

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