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Earlier Deadline for Filing W-2 Forms, IRS Warns

Small businesses will face an earlier deadline for filing W-2 forms next year, the Internal Revenue Service reported.

The new deadline is Jan. 31. Previously, the deadline was the end of February when filing on paper or the end of March when filing electronically.

But the Protecting Americans from Tax Hikes Act moved the deadline up as a way to help the IRS find errors on taxpayer’s returns.

“As tax season approaches, the IRS wants to be sure employers, especially smaller businesses, are aware of these new deadlines,” IRS Commissioner John Koskinen said. “We are working with the payroll community and other partners to share this information widely.”

The new rules also apply to some Forms 1099-MISC for reporting payments to independent contractors and other non-employee compensation.

It’s possible to get an extension on filing a Form W-2, but only one 30-day extension will be allowed and approval might not be automatic.

Thanks to the PATH Act, there’s another wrinkle in this year’s tax season. Namely, the IRS will delay paying refunds to people claiming the Earned Income Tax Credit or Additional Child Tax Credit until Feb. 15.