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W-2 Woes


When employees lose their W-2 or claim they never received one, what should you do?

Adjust the following sample policy based on your needs: 1. Require that requests for a duplicate W-2 be in writing. 2. Create a “Duplicate W-2 Request Form.” The form should include lines for: · the date the request is made; · the date you mailed the duplicate; and · change of address (if the W-2 is returned and the employee complains, you will want this). Online alternative: Post the duplicate W-2 to a secure website and tell the employee how to obtain it. Processing the duplicate W-2: In the upper right-hand corner of all W-2 copies, type “REISSUED STATEMENT.” You are permitted to send a photocopy of the employer’s copy. When W-2s are returned: If you mail W-2s, keep any that are returned in the original envelope. If the employee contacts you, put the returned envelope into another envelope and mail it to the corrected address. If the employee does not contact you, keep the returned W-2 for at least 4 years as proof that it was mailed. Second option: You can meet the regs by storing electronically copies B and C and shredding the originals.[Rev. Proc. 97-22, 1997-3, I.R.B. 9, Guidance on Electronic Records] Helpful hint: If you scan copies B and C, also scan the envelope the W-2 was mailed in. The postmark and address are proof that you mailed it and when. Make sure your electronic storage is secure. #accounting #bookkeeping #smallbusiness #beagoodboss #businesstip #taxtip