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Common Tax Forms Explained: W2, 1099MISC, and W9

Tax Form Essentials: W2, 1099MISC, W9 Explained

Filing Form W-2

The due date for filing 2018 Forms W-2 is January 31, 2019 whether you file electronically or using paper forms. You may request one 30-day extension to file Form W-2 by submitting a complete application on Form 8809, Application for Extension of Time To File Information Returns, including a detailed explanation of why you need additional time and signed under penalties of perjury. Note that the IRS will only grant the extension in extraordinary circumstances or catastrophe.

TIP: Get it done faster… E-File your Forms W-2 with the Social Security Administration (SSA).

What is Form 1099MISC?

Reporting payments to contract workers on Form 1099-MISC (box 7, non-employee compensation) must be provided to your contractors by January 31, 2019. When it comes to filing with the IRS, there are two deadlines. If filing by paper submit your 1099s by February 28, 2019. Electronically filed 1099s can be submitted by March 31, 2019 Be sure to report each payment in the proper box because the IRS uses this information to determine whether the recipient has properly reported the payment

NOTE: There is a penalty for late filing

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Mike Forsyth

“Super helpful and timely. This is our first year with them and we look forward to trusting them with our taxes and business books for years to come.”

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“I’ve worked with Molen & Associates for several years now, and I can’t say enough good things about them. Their team is always on top of every detail, staying ahead of deadlines and tax changes so we don’t have to worry. Their professionalism, responsiveness, and expertise give us total confidence that everything is handled properly and thoroughly. Whenever we have questions, they take time to explain in clear terms (no confusing jargon) and always make sure we understand our options. The peace of mind they give is priceless—knowing our taxes and finances are in good hands.”

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