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2025 IRS Forms W2 and W3 - recent changes, which payments go in what boxes, deadlines, do’s and don’ts for employers, and much more
- What’s new - changes and reminders for 2025
- Filing and Extension requirements
- Other types of W2s and W3s
- W3 Requirements
- W2 Requirements - Box by box
- Special Situations
- Terminated Workers
- Lost W2
- Archer MSA
- Golden Parachute Payments
- HAS
- Deceased Employee
- Expense Reimbursments
- Fringe Benefits
- Reconciliation
- Penalties
- Common Errors and Questions
Overview of the webinar
The W2 is one of the most familiar forms in all of payroll. It is how we are introduced to tax filing season after our first job. As employees, we were already over the shock of gross vs net pay. As we became professionals, we were introduced to a variety of withholdings and benefits that populated our pay stubs.
As employers, we quickly learned that accounting for payroll taxes is no easy matter. This is especially true for medium to large sized employers who offer a wide range of benefits, operate in multiple states, have travelling workers, etc. We learned that ‘Pay” includes more than just salaries or wages. We learned that not all payments are subject to all payroll taxes.
The W2 is a form that includes all payroll and withholding information for each employer in calendar year. The W3 summarizes information on all W2s.
Who should attend?
- Auditors
- Payroll Managers and Staff
- Dept or Functional Managers
- Accountants and Finance Personnel
- Executives
- Hiring and other HR Personnel
Why should you attend?
The IRS requires employers to report wage and salary information for employees on Form W-2. Your W-2 also reports the amount of federal, state and other taxes withheld from your paycheck. As an employee, the information on your W-2 is extremely important when preparing your tax return. Sounds simple, doesn’t it?
There are 20 boxes on the W2, and 34 codes to use in box 12 alone. If your compensation structure includes benefits, are subject to FMLA, grant a myriad of cafeteria plan benefits, have employees who work in more than one state, etc…. this form is far from simple. There are changes most every year of one sort or another, and even the most well maintained of payroll systems can miss some important edits. This can result in the forms being kicked back, which results in penalty and interest assessed on EACH W2 filed late. Further, if what’s on them doesn’t match your employees’ tax returns, they face penalties and even audits.
Because no payroll system runs perfectly, reconciliation of W2 information is crucial. Employers also need to understand special situations that affect reporting, common errors to avoid, penalties for non-compliance and more. So join Mark Schwartz in this informative webinar – and you will be able to evaluate your system for compliance.
Faculty - Mr.Mark Schwartz
Mark Schwartz is an employment tax specialist and has over 15 years of employment tax experience as an independent consultant and as a payroll tax auditor with the State of California. He has managed an audit caseload of 20 ongoing audits, from small home-based businesses to large multi-national corporations. He is expert at defining regulatory and statutory requirements from local, State and Federal government agencies; and helping the average businessperson understand what that mean to their business. He has processed weekly and bi-weekly payroll checks plus tax forms for businesses with hourly as well as exempt workers, multistate operations and a wide variety of benefits. Mr. Schwartz provides consulting services encompassing payroll processing and payroll tax issues. These include payroll tax minimization, payroll tax compliance reviews, independent contractor studies, use of electronic transfers, deductions, benefits, etc. Markhas represented both clients and the State in front of the State Appeals Board.