IRS Notifies Employers to File Wage Statements With Social Security Administration by Jan. 31

The social security administration uses the submitted forms to calculate benefits entitled to an employee.

The Internal Revenue Service (IRS) building in Washington, on Jan. 4, 2024. Madalina Vasiliu/The Epoch Times

The Internal Revenue Service (IRS) reminded employers about filing certain wage documents by the Wednesday deadline, failing which they could face penalties.

The deadline for filing 2023 Form W-2, Wage and Tax Statements, and Form W-3, Transmittal of Wage and Tax Statements, with the Social Security Administration (SSA) is Jan. 31, the IRS said in a press release on Monday. W-2 forms are prepared by an employer for every employee for whom they pay $600 or more per year. In addition to income that is paid, all income, social security, and Medicare tax that were withheld also have to be reported.