What’s New? W-2 Penalties
Amount of penalty is based on when the correct Form W-2 is filed.
- $50 per W-2 if the forms are correctly filed within 30 days of the due date.
Maximum penalty: $532,000 per year
$186,000 maximum for small businesses
- $100 per W-2 if the forms are correctly filed more than 30 days after the due date but before August 1.
Maximum penalty: $1,596,500 per year
$532,000 maximum for small businesses
- $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. Maximum penalty: $3,193,000 per year
$1,064,000 maximum for small businesses
Higher penalty amounts apply to returns required to be filed after 12/31/15