Employers are required to file their copies of Form W-2, submitted to the Social Security Administration, by January 31, 2023. The January 31st deadline also applies to certain Forms 1099-MISC and 1099-NEC reporting non-employee compensation such as payments to independent contractors. As it relates to Form 1099-NEC, the filing deadline will only impact filers that report nonemployee compensation payments in box 1. 

The January deadline is intended to help the IRS improve its efforts to spot errors on taxpayer filed returns especially those involving identity theft. Receiving W-2s and 1099s earlier will make it easier for the IRS to verify the legitimacy of tax returns and properly issue refunds to taxpayers eligible to receive them. 

Delinquent reporting of W2s and 1099s have financial penalties! Click Here to see penalties per the IRS.

The IRS revised Form W9 – Request for Taxpayer Identification Number and Certification to expand the entity classification.  You can obtain a copy of this form Here

The professionals in our office can answer any questions you may have about the filing deadlines and how they will impact your business, call us today at 858.481.7702

Hamilton Tharp, LLP