Form W-2 is the statement you provide employees after the end of each year, with information on their gross pay, Social Security and Medicare pay, federal and state income tax withholding, and tax-related deductions. You must provide this statement to every employee who worked for your company the previous year, by the end of January the following year.
The 2011 W-2 has been changed to include a line item in which employers can provide the value of employer-provided employee benefits. It also reflects reductions in the Social Security tax rate.
You can get W-2 forms from your local office supply store, from your CPA, or online from the IRS. You can also get W-2 forms from your tax program (some programs).
Where you CANNOT get W-2 forms
You can't download and print out W-2 forms from the IRS website or elsewhere on the Internet. Copy A is a specific color of red ink and only originals can be submitted.
You provided employees with copies of their W-2 forms by the end of January. Now, you must file these W-2 forms, along with a W-3 summary transmittal form. The W-2s and W-3 must be filed with the Social Security Administration (SSA) by the end of February.
You can submit W-2 forms and the W-3 summary transmittal form to the Social Security Administration (SSA) electronically. First you must sign up for the SSA's Business Services Online service.
W-2 forms must be submitted to employees by the end of January and to the Social Security Administration (SSA) by the end of February. One reason for the delay is to give time for finding errors. It's a lot easier to fix an error on a W-2 if it hasn't already been submitted to the SSA. But if you already sent the W-2 off to Social Security, you can still fix the error by submitting a W-2c form.
W-2 Forms must be (1) provided to employees by the end of January, for the previous calendar year and (2) submitted to the Social Security Administration (SSA) before the end of February, along with a transmittal form W-3, by the end of February. Failure to provide and submit these forms by the due dates can result in penalties and fines. Find out more in this article.