What is the latest date to provide a wage and tax statement (W-2) to an employee who left on October 29th?

What is the latest date to provide a wage and tax statement (W-2) to an employee who left on October 29th?

• A. December 31 of the same year
• B. February 15 of the following year
• C. January 31 of the following year
• D. January 15 of the following year

Answer: (C)

The latest date to provide a wage and tax statement (W-2) to an employee who left on October 29th is January 31 of the following year. This deadline is established by the Internal Revenue Service (IRS) and applies to all employees, regardless of their employment termination date during the year. When an employee's employment ends, employers are still required to generate W-2 forms detailing the employee's earnings and taxes withheld for the year. The January 31 deadline ensures that employees have this important tax document in time to file their annual income tax returns promptly. This date provides both the employer and the employee sufficient time to process payroll information and finalize any necessary payroll-related calculations before the end of January, ensuring compliance with federal tax regulations.

The latest date to provide a wage and tax statement (W-2) to an employee who left on October 29th is January 31 of the following year. This deadline is established by the Internal Revenue Service (IRS) and applies to all employees, regardless of their employment termination date during the year.

When an employee's employment ends, employers are still required to generate W-2 forms detailing the employee's earnings and taxes withheld for the year. The January 31 deadline ensures that employees have this important tax document in time to file their annual income tax returns promptly. This date provides both the employer and the employee sufficient time to process payroll information and finalize any necessary payroll-related calculations before the end of January, ensuring compliance with federal tax regulations.