A W2 form is a type of tax form that an employer uses to report the wages they are paying to their employees and the taxes that have been withheld from these wages. W-2 forms list the wages employees received and the taxes employer withheld, which include federal income tax, Social Security tax, and Medicare tax. In order to complete their tax returns, employees use the information on their W-2 forms. This form is important for employers, employees, and the government.
A W2 form is a type of tax form that an employer uses to report the wages they are paying to their employees and the taxes that have been withheld from these wages. W-2 forms list the wages employees received and the taxes employer withheld, which include federal income tax, Social Security tax, and Medicare tax. In order to complete their tax returns, employees use the information on their W-2 forms. This form is important for employers, employees, and the government.
There is a threshold for filing W-2 forms electronically based on how many forms need to be filed. The tax year 2022’s electronic filing threshold was as follows:
250 or more than 250 forms: W-2, W-2AS, W-2CM, W-2GU, or W-2VI
In the draft, it is mentioned that the Department of the Treasury and the Internal Revenue Service will issue regulations that will reduce the threshold for mandatory electronic filing. Currently, If an employer has 250 returns of one type that need to be filed then he has to file them electronically as mentioned above. The number will remain unchanged until final regulations are issued by the IRS.
Final words
If you are an employer and you are required to file 250 or more W-2 forms then you have to file them electronically. In the case of fewer than 250 W-2 forms, you are not required to file them electronically, but you can do so if you desire.
