September 6, 2016
New IRS Employer Requirements Begin in January 2017
Important Notice for Local Extension Units - Change of IRS and SSA Due Dates for Employer Informational Returns (W-2/W-3, 1099-MISC).
New IRS Employer Requirements Begin in January 2017.
Kansas municipalities that employ or contract with individuals need to be aware of a new January 31, 2017 deadline regarding the filing of wage informational returns (W-2s and W-3s) and 1099-MISC returns.
In order for the IRS to verify 2016 tax refund claims, the Consolidated Appropriations Act, 2016 (Public Law 114-113) passed December 18, 2015 changes the due date of employer’s informational returns filed with the
Social Security Administration (SSA) and the Internal Revenue Service (IRS).
W-2/W-3 Filings
The due date for filing 2016 Form W-2, W-2AS, W-2CM, W-2GU, W-2VI, W-3, and W-3SS with SSA is now January 31, 2017, whether you file using paper forms or electronically. The previous due dates were February 28/29 for paper filers or March 31 for electronic filers. The W-2 due date to employees of January 31 remains unchanged.
Please note that extensions of time to file Form W-2 with the SSA are no longer automatic, IRS Form 8809 (Application for Extension of Time to File Information Returns) needs to be filed, and the IRS will only grant the extension in extraordinary circumstances or catastrophe.
Please see the IRS’s 2016 General Instructions for Forms W-2 and W-3 at the following link for additional information: https://www.irs.gov/pub/irs-prior/iw2w3--2016.pdf.
1099-MISC
In addition, the due date for submitting Form 1099-MISC is also changing. Form 1099-MISC must be filed with the IRS by January 31, 2017 for those 1099-MISC reporting nonemployee compensation payments in box 7. 1099-MISC forms not meeting this criteria are required to be filed by February 28, 2017 (if filed by paper) or by March 31, 2017 (if filed electronically). The due dates for furnishing payee statements remains unchanged.
Please see the IRS’s 2016 General Instructions for Certain Information Returns at the following link for additional information: https://www.irs.gov/pub/irs-pdf/i1099gi.pdf.