TJT Client Advisory Services

New Deadline for filing W-2 and 1099’s with the SSA

As part of the Protecting Americans from Tax Hikes (PATH) Act passed in late 2015, Congress is now requiring that businesses submit Forms W-2 and some Forms 1099-MISC to the Social Security Administration by January 31st. Previously, employers had until the end of February (if filing by paper) or March (if filing electronically) to submit these forms to the SSA. The goal behind filing the forms earlier is for the IRS to verify the legitimacy of individual tax returns and also properly issue refunds to eligible taxpayers. Potentially, the IRS may be able to issue refunds more quickly if these forms are filing earlier.

There is a 30 day extension available to employers who file these forms. However, the extension will not be automatically granted, and when given, only one 30-day extension will be allowed.
The previous January 31 deadline for providing these forms to employees and contractors has not changed. Please contact our office if you have any questions about filing these forms and the new deadlines related to the filings.