What to know for the 2018 W-2/W-3 forms:
- Vacation/Sick/Personal Leave can be donated to a registered non-profit. It is not income to the donor.
- Moving expense reimbursement from an employer cannot be excluded from income.
- Sinai Peninsula of Egypt income is combat zone income.
- Qualified equity grants are reportable.
- Penalties for non-filing have been adjusted up for inflation.
- SSA filing deadline is January 31 2019. One 30-day extension may be requested.
- FSA limit is $2650.
- Additional Medicare tax is due for income over $200000. Some Medicaid waiver payments are excludable from income.
- BSO can be used to correct wage reports.
- Disability for victims of terrorist attacks are not included in income.
- Form 1099-R should be used to report 457(b) distributions.
- Employees with no income tax withholding may claim a refund because of EIC and must be notified so by the employer.
- Copies B/C/2 of the W-2 may be furnished electronically to employees.
- A processor submitting more than 250 forms must e-file. Form 8508 is available for the e-file requirement waiver.
- Forms can be distributed to employees prior to being submitted to SSA.
- BSO auto generates W-3s.
- More info can be found in the instructions for the Military spouses residency relief act.
- NQDC amounts must be included in income unless certain requirements are satisfied.
- Employer sponsored health coverage must be reported.
- Severance payments are taxable.
- Guidelines for forms W-2/W-3 substitutes can be found in Pub 1141; for forms W-2C/W-3C can be found in Pub 1223.
- More info can be obtained by calling one of the following helplines: 800-772-6270, 888-772-2970, 212-264-1462, 510-970-8247, 866-455-7438, TTY/TDD 304-579-4827.
* Note that the above apply to income in year 2018.
We have 5 W-2 and 10 W-3 red ink 2018 copies on hand. Contact us for more info on how to have your forms filed.