What’s New? W-2 Penalties
Amount of penalty is based on when the correct Form W-2 is filed.
- $50 per W-2 if the forms are correctly filed within 30 days of the due date.
Maximum penalty: $556,500 per year
$194,500 maximum for small businesses
- $110 per W-2 if the forms are correctly filed more than 30 days after the due date but before August 1.
Maximum penalty: $1,669,500 per year
$556,500 maximum for small businesses
- $270 per W-2 if the forms are filed after August 1, corrections are not filed or the W-2 is not filed at all.
Maximum penalty: $3,339,000 per year
$1,113,000 maximum for small businesses