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What are the Options for Preparing Year-end Payroll Tax Reports?

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Question: What are the Options for Preparing Year-end Payroll Tax Reports?

After the end of each calendar year, employers are required to submit a payroll tax report to employees and contractors, and to submit a summary report. There are several options for preparing and submitting these reports.

First, read about which payroll tax reports must be submitted and to whom.

Here are the due dates for these reports for 2011 income reporting:

  • W-2s and 1099s are due February 1, 2012.
  • Form W-3 summarizing W-2 information and Form 1096 summarizing 1099 information are due March 1, 2012.
Answer:

Options for Preparing and Submitting Payroll Tax Reports

  • If you have a bookkeeping service that does your payroll processing, they can prepare these reports, for a charge. Or you may have a payroll processing service that does all your payroll work; they should include these reports as part of their services.
  • If you use accounting software like QuickBooks or you are purchasing tax software (TurboTax or TaxCut), you can use these programs to prepare the forms, if you have all the data.
  • You can purchase the printed forms directly from the IRS, for individual reports and summaries. Go to the IRS Online Ordering page to find the forms. Or you can file W-2s and W-3 with the Social Security Administration online.
  • You can use an online service like speedEfiler, which allows you to enter your W-2 and 1099-MISC data online, and have the forms transmitted directly to the IRS and Social Security Administration, mailing printed forms to employees and contractors.

Confused about Form W-2? Answers to Your Questions About 2011 W-2 Form

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