Starting in 2017, for the 2016 reporting period, the deadline for filing Forms W-2 and W-3 with the Social Security Administration and Form 1096 and 1099-MISC (Box 7) with the Internal Revenue Service is changing.
Forms W-2 and W-3
The new due date for filing the 2016 Forms W-2 and W-3 with the Social Security Administration is January 31, 2017, for both paper forms and electronic filing. Employers no longer have until February 28 to file these forms.
Additionally, the extension of time to file the forms is no longer automatic. A one-time 30-day extension of time may be requested by submitting a completed application on Form 8809, including a detailed explanation of the reason why additional time is needed and signed under penalties of perjury.
Forms 1096 and 1099-MISC (Box 7)
The new regulations require Forms 1096 and 1099-MISC to be filed on or before January 31, 2017 with the Internal Revenue Service, when the reporting is for non-employee compensation payments in Box 7, for both paper forms and electronic filing. Otherwise, file any other 1099-MISC forms on or before February 28, 2017 for paper forms, or March 31, 2017 if filing electronically.
The new regulations require Forms 1096 and 1099-MISC to be filed on or before January 31, 2017 with the Internal Revenue Service, when the reporting is for non-employee compensation payments in Box 7, for both paper forms and electronic filing. Otherwise, file any other 1099-MISC forms on or before February 28, 2017 for paper forms, or March 31, 2017 if filing electronically.
If you have any questions, please contact your Legacy Professionals LLP representative.
Legacy News Flash 16-6
Issued 10/31/16