November 7, 2016
In 2017 there is a new deadline for employers and small businesses to file W-2 and certain 1099 forms.
Copies of Form W-2 and Form 1099-MISC are now due by January 31. In the past, the deadline was typically the end of February, if filing on paper, or the end of March, if filing electronically.
The January 31 deadline remains unchanged for employers to provide copies of W-2 and 1099 forms to their employees.
These changes are part of the Protecting Americans from Tax Hikes (PATH) Act, enacted December 2015.
Other changes include:
- Changes in requesting an extension to file the Form W-2. Only one 30-day extension is available, and it is not automatic, according to the IRS. “If an extension is necessary, a Form 8809 Application for Extension of Time to File Information Returns must be completed by January 31, 2017.”
- Due to the PATH Act change, some people will get their refunds a little later, the IRS said. “The new law requires the IRS to hold the refund for any tax return claiming either the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) until February 15. By law, the IRS must hold the entire refund, not just the portion related to the EITC or ACTC.”
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As we all know (if you don’t, I’m not sure what rock you’ve been sleeping under), Congress presented and the President signed in to law the Tax Cuts and Jobs Act (TCJA) on December 22, 2017. This law amends the Internal Revenue Code of 1986.
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