W2 Form 2021—Wage and Tax Statement is for reporting income (wage, salary, and other compensation) paid to employees and taxes withheld from this income.
Employers must file Form W2 and furnish their employees. Since employees rely on their employers to get this tax form, employers must do this by January 31st. If Form W2 is filed and furnished to the employee after January 31st, the employer will have to pay a penalty. If you’re an employer, file Form W2 as early as you can, so not only you will avoid penalties but your employees’ tax returns won’t be delayed.
Form W2 e-Filing
Form W2 can be filed electronically through an IRS-approved e-file provider. This is not the only way you can file Form W2 electronically though. It is possible to file Forms W2 on Social Security Administration’s Business Services Online. You can file Forms W2 for free through BSO.
Those who qualify to file for free should file with an e-file provider. Because you will be able to file other tax forms in addition to W2. This will allow you to get multiple tax forms done.
Before you choose an e-file provider, make sure you’re eligible to Free File. Check eligibility and see the e-file providers from the links below.
Regardless of your income, you can always use Free File Fillable Forms to file Form W2 for your employees. The income limit only applies to filing a tax return.
Form W2 Paper Filing
Just like any other tax form and schedule, you have the option to file Form W2 on paper. This is suitable for employers who have a small number of employees.
The below Form W2 is printable and can be downloaded below. The content of Form W2 is very simple. As long as you have all the necessary information you need, you can file Forms W2 in minutes.
Form W2 for 2021 Tax Season
Can I file taxes without Form W2?
Technically yes, but you will still need to report income you’ve earned. If your employer hasn’t furnished you with Form W2, you can fill out Form 4852 which works as a substitute. Use your last pay stub to file Form 4852 and file your tax return. It cannot be filed electronically though, so you must mail your tax return to the IRS as e-filing isn’t an option.
Where is taxes withheld on W2?
Form W2 provides employees with the total amount of taxes withheld from their income. Taxes withheld on W2 can be found in the following boxes.
• Federal income tax withheld on Box 2
• Social Security tax withheld on Box 4
• Medicare tax withheld on Box 6
• State income tax withheld on Box 17
• Local income tax withheld on Box 18
How do I find prior year W2s?
You can always obtain Forms W2 from previous years by requesting a tax transcript from the IRS. This can be done using the Get Transcript tool online or file Form 4506-T and mail it to the IRS. A tax transcript not only will give your previous year Forms W2 but other tax forms and schedules you’ve used to file your return with.
What is the penalty for not filing Form W2?
The penalty for willfully ignoring to file Form W2 is $550 per W2. This is the maximum penalty someone can receive for not filing Form W2. The late-filing penalty starts at $50 and can be as much as $270.
How to attach Form W2 to 1040?
Staple Form W2 to your 1040 along with other tax forms that report your income. You can attach Form W2 to 1040 on the upper right or left corner.