The State of California Employment Development Department reminds employers that they are required to prepare a federal Wage & Tax Statement (Form W-2) for each employee.
For the 2011 tax year, this form must be provided to employees by January 31, 2012 [per Section 13050 of the California Unemployment Insurance Code (CUIC)]. Employers who fail to provide a Form W-2 to each employee, or who furnish a false or fraudulent statement, are subject to penalties under the CUIC.
Information about Form W-2 reporting requirements and instructions for completing the form can be found on the IRS website at http://www.irs.gov/ or by calling the IRS at 800-829-3676.
Employers are also required to notify their employees about the availability of the Earned Income Tax Credit (EITC). For more information, please visit the IRS website or www.edd.ca.gov/Payroll_Taxes/Year-End_Notification_Requirements.htm.
(Disclaimer: Information provided in this blog posting is not intended to be, nor should it be construed as, legal or financial advice.)
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