In the United States, employers typically withhold federal income tax from compensation paid to employees and remit that withheld amount to the IRS. When an employer issues a Form W-2 to an employee, the Form W-2 contains all federal tax information that is required to be reported to the tax authorities. A Form W-2c is used to make corrections on previously issued wage/tax information (W-2s) from current or prior years.
What Is A Form W-2c?
If you received a Form W-2C from an employer for last year’s tax year, you probably wondered what it was for. There are a lot of people that collect Form W-2Cs to correct errors or computation issues on the previous W-2s. While most taxpayers tend to file their own tax returns, some employers use tax preparers to help prepare their employees’ returns. The employers may need to make changes in the filed W-2s, such as the name on the Form W-2, social security number of the employee, etc.
A Form W-2c is a form used to make corrections on previously issued wage/tax information (W-2s) from current or prior years. It can be used throughout the year as needed to update W-2s that have been issued to the same employee, to correct errors and omissions, or to provide new information.
If the Form W-2c is not corrected on time, then you may end up getting hit with a late-payment penalty. The deadline for filing Form W-2c is the 15th of the following month, so if you need to file after the 15th of April, make sure you file your Form W-2c by May 15.
Most Common Uses of Form W-2C
Form W-2c is one of the most common forms you will encounter, and in fact, the most common form listed on Form W-2s is Form W-2c. It is used to correct any incorrect information that was previously given to the IRS. An employer uses a Form W-2c to correct errors that are found on the original W-2.
Sections in Form W-2c:
- Personal Information
- Previously Reported Information
- Correct Information
- State Correction Information
- Locality Correction Information
Final Words
Form W-2c is an error-reporting form that is required by the IRS for all employers who have paid employees. The form should be used when the employer discovers an error in the W-2 Form, such that the employee’s correct Social Security number is not being reported on the W-2 Form. The W-2c can also be used when the employer discovers an error in the amount of wages reported on the W-2 Form.
