IRS Tax Form Changes for 2016 Posted on 26 Jul 10:59

1099-MISC Filing Deadline Change

 

If entering data in Box 7, the filing deadline is January 31, 2017, regardless of paper or electronic filing method

If no data in Box 7, the paper filing deadline is February 28, 2017, and the electronic deadline is March 31, 2017

No change to the January 31 due date for recipient copies

W-2 Filing Deadline Change

 

2016 forms must be filed with the SSA by January 31, 2017, regardless of using paper or filing online

Previous e-file deadline was March 31

W-2 Extensions

 

Extensions to file are no longer automatic and one 30-day extension may be requested

Application Form 8809 must be used along with a detailed explanation on why additional time is needed

IRS will only grant extensions for extraordinary circumstances or catastrophe

W-2 Penalties

 

$50 per W-2 if the forms are filed within 30 days of the due date

$100 per W-2 if the forms are filed more than 30 days after the due date but before August 1

$260 per W-2 if the forms are filed after August 1, corrections are not filed or the W-2 is not filed at all