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<!DOCTYPE html> <html lang="en"> <head> <script async src="https://news-cdn.bindg.com/indg/assets/news/scripts/google-tag-manager.js" nonce="gtm" ></script> <link rel="preconnect" href="https://fonts.googleapis.com"> <link rel="preconnect" href="https://fonts.gstatic.com" crossorigin> <link rel="preconnect" href="https://assets.bwbx.io"> <link rel="stylesheet" href="https://assets.bwbx.io/font-service/css/AvenirNextMForBBG:400,400i,600,600i,700,700i%7COpenSans:400,400i,600,600i,700,700i/styled-font-face.css"> <link rel="stylesheet" href="https://fonts.googleapis.com/css2?family=Roboto+Slab:wght@400;700&display=swap"> <link rel="icon" type="image/ico" href="/favicon.ico"> <meta name="robots" content="all"> <meta name="viewport" content="viewport-fit=cover"> <meta charset="UTF-8"> <meta name="mobile-web-app-capable" content="yes"> <meta name="viewport" content="width=device-width, initial-scale=1, user-scalable=yes"> <meta http-equiv="X-UA-Compatible" content="IE=edge"> <meta name="twitter:dnt" content="on"> <meta name="twitter:widgets:csp" content="on"> <meta name="app" content="vite"> <title>Payroll In Practice: 11.12.2024</title> <meta data-vue-meta="1" property="og:title" content="Payroll In Practice: 11.12.2024"> <meta data-vue-meta="1" property="og:type" content="article"> <meta data-vue-meta="1" property="og:description" content="Question: A new company has employees who were hired during the year. 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class="TwitterButton_socialIcons_1B2M2"><a href="https://twitter.com/intent/tweet?url=https%3A%2F%2Fnews.bloombergtax.com%2Fpayroll%2Fpayroll-in-practice-11-12-2024" target="_blank" rel="noopener noreferrer" data-test="twitter-share-link" class="TwitterButton_link_1B2M2"><img src="https://news-cdn.bindg.com/indg/images/26_AUTO_icon-X-black.webp" srcset="https://news-cdn.bindg.com/indg/images/52_AUTO_icon-X-black.webp" data-test="twitter-icon" title="Share on X" class="TwitterButton_twitterIcon_1B2M2"></a></div></div></div></div><div data-test="article-main-content" class="StandardArticle_mainContent_1B2M2"><div class="StandardArticle_dates_1B2M2"><span>Nov. 12, 2024, 1:43 PM UTC</span></div><header class="StandardArticle_header_1B2M2"><h1 data-test="article-headline" class="StandardArticle_headline_1B2M2">Payroll In Practice: 11.12.2024</h1><div class="StandardArticle_byline_1B2M2"></div></header><div class="StandardArticle_contributors_1B2M2"><div class="TheArticlePersonCard_card_1B2M2"><div class="TheArticlePersonCard_avatarAndInfo_1B2M2"><img src="https://db0ip7zd23b50.cloudfront.net/dims4/default/bb24046/2147483647/legacy_thumbnail/80x80%3E/quality/90/?url=https%3A%2F%2Forca.bindg.com%2Fapi%2Frendition%2Fjpg%2Forca127651.jpg%3Fdigest%3Ddbfb7c04e084e8b029a1abe5e1f9cfd3c6b5dcd22211daad6006d0b52e6010f4" alt="Patrick Haggerty" class="TheArticlePersonCard_avatar_1B2M2"><div class="TheArticlePersonCard_info_1B2M2"><div data-test="writers-name" class="TheArticlePersonCard_name_1B2M2"> Patrick Haggerty </div><div class="TheArticlePersonCard_position_1B2M2">Patrick A. Haggerty, Tax and Accounting Services</div></div></div><div class="TheArticlePersonCard_social_1B2M2"><a href="mailto:phaggerty@prodigy.net" class="TheArticlePersonCard_socialLink_1B2M2"><img src="https://news-cdn.bindg.com/indg/assets/icons/icon-email.svg" data-test="contributor-email-icon" title="Email Patrick Haggerty"></a></div></div></div></div><div data-test="article-page-body" class="StandardArticle_articlePageBody_1B2M2"><aside data-test="article-side-rail" class="SideRail_aside_1B2M2 StandardArticle_sideRail_1B2M2"><div data-test="article-side-adspot" class="SideRail_adSpot_1B2M2"><div id="div-gpt-ad-1712084665739-0" class="AdSpot_adContainer_1B2M2"></div></div><aside data-test="article-topic" class="SideRailFacet_asideLinks_1B2M2"><h4 class="SideRailFacet_heading_1B2M2"> Search by <span class="SideRailFacet_facetName_1B2M2">Topic</span></h4><div><ul class="SideRailFacet_facets_1B2M2"><li data-test="facet-link" class="SideRailFacet_facet_1B2M2"><a href="/payroll/search?topic=00000152-e727-da6a-abd2-ef3fcc700001" data-test="search-link" class="SideRailFacet_asideLink_1B2M2"><span> payroll administration </span></a></li><li data-test="facet-link" class="SideRailFacet_facet_1B2M2"><a href="/payroll/search?topic=00000152-e728-da6a-abd2-ef3c77fe0000" data-test="search-link" class="SideRailFacet_asideLink_1B2M2"><span> Social Security </span></a></li><li data-test="facet-link" class="SideRailFacet_facet_1B2M2"><a href="/payroll/search?topic=00000152-e728-da6a-abd2-ef3c96280000" data-test="search-link" class="SideRailFacet_asideLink_1B2M2"><span> filing tax returns </span></a></li><li data-test="facet-link" class="SideRailFacet_facet_1B2M2"><a href="/payroll/search?topic=00000152-e728-da6a-abd2-ef3c0eb40000" data-test="search-link" class="SideRailFacet_asideLink_1B2M2"><span> government employees </span></a></li><li data-test="facet-link" class="SideRailFacet_facet_1B2M2"><a href="/payroll/search?topic=00000152-e728-da6a-abd2-ef3c96300000" data-test="search-link" class="SideRailFacet_asideLink_1B2M2"><span> information returns </span></a></li><li data-test="facet-link" class="SideRailFacet_facet_1B2M2"><a href="/payroll/search?topic=00000152-e728-da6a-abd2-ef3c11310000" data-test="search-link" class="SideRailFacet_asideLink_1B2M2"><span> hiring </span></a></li><li data-test="facet-link" class="SideRailFacet_facet_1B2M2"><a href="/payroll/search?topic=00000152-e728-da6a-abd2-ef3ca3210000" data-test="search-link" class="SideRailFacet_asideLink_1B2M2"><span> individual income tax </span></a></li></ul></div></aside></aside><article data-test="article-body" class="StandardArticle_article_1B2M2"><aside data-test="article-snapshot" class="TheArticleSnapshot_snapshot_1B2M2"><ul><li>Filing Forms W-2 and registering for Business Services Online if electronic filing is required</li></ul></aside><div><div productCode="PYNW"><div data-test="article-text" class="QvNnGjy8J7gi ArticleBody_collapseArticle_1B2M2"><div><p><strong>Question: A new company has employees who were hired during the year. How should the company prepare for filing Forms W-2?</strong></p><p><strong>Answer:</strong> Form W-2, Wage and Tax Statement, is used by a business to report payments it has made to employees for their services. Generally, an employer must provide a Form W-2 to each employee and must file the same information with the Social Security Administration.</p><p>It is important for a company to determine how it will meet the reporting requirements prior to the end of the calendar year. Many employers provide paper copies of the forms to employees, but an employer may provide the forms in electronic format if certain requirements are met. Filings with the SSA may also be in electronic or paper form.</p><p>The SSA requires that paper forms be machine readable. Official or approved substitute Forms printed in special red ink must be used when paper copies are filed with the SSA. An employer planning to file paper forms may <a href="https://www.irs.gov/forms-pubs/order-products">order them from the IRS</a> or purchase approved substitute forms from commercial office supply outlets.</p><p>Employers may electronically file Forms W-2 directly through the SSA’s Business Services Online portal. BSO is a free service provided by the SSA that offers employers greater processing accuracy, filing verification when compared to filing paper forms. An employer may also file indirectly through a third-party service provider. The filing due date for Forms W-2 is Jan. 31, whether filed on paper or electronically.</p><p>A business must file information returns electronically if it is required to file 10 or more information returns during the calendar year. Under Treas. Reg. 26 CFR 301.6011-2 all information returns the employer is required to file are to be counted in the aggregate to determine if the 10-form filing threshold is reached. The forms to be included in the count are the 1042-S, 1094 series, 1095–B, 1095–C, 1097–BTC, 1098, 1098–C, 1098–E, 1098-F, 1098–Q, 1098–T, 1099 series, 3921, 3922, 5498, 5498-ESA, 5498-QA, 5498-SA, 8027, 8895-SSA, 8596, W–2G, and W-2 series.</p><p>For example, if a business is required to file five Forms 1099-NEC and five Forms W-2, the aggregate number of returns is 10, and the business must file all the forms electronically. If, instead, the business is filing five Forms 1099-NEC and four Forms 1099-INT, it is not required to file any of the forms electronically. The business may file all the forms on paper, all the forms electronically, or file some forms on paper and some electronically.</p><p>To file returns electronically, a business must have access to BSO. A BSO User ID and password may no longer be used to access BSO employer services. Individuals must have a Social Security username and password, or a Login.gov or ID.me credential to gain access to BSO.</p><p>A user who lacks any of these accounts will have to create a Login.gov or ID.me account. This may be done by going to the <a href="https://www.ssa.gov/bso/bsowelcome.htm">BSO Welcome</a> web page and selecting “Create account” in the “Employers” box or “Representative Payees” box.</p><p>Login.gov is a federal government sign-in service that provides a simple, secure, and private way for the public to access government websites. ID.me is a single sign-on provider that meets the federal government’s online identity proofing and authentication requirements.</p><p>Once a credential has been obtained, a user can access the system by clicking “Log In” in the “Employers” box on the BSO Welcome page. After logging in, the user is asked to select a previously established UserID and password or create a new UserID. This ID allows the user to manage user and employer information, as well as request access to BSO services such as electronic wage reporting, the Social Security Number Verification Service, and AccuWage. This should be done prior to year-end because requesting access to BSO services requires an activation code mailed to the employer, which can take up to two weeks to arrive.</p><p>The BSO welcome page also has a link to the <a href="https://www.ssa.gov/employer/">Employer information</a> page that provides a wealth of information and resources related to filing Forms W-2, including handbooks, fact sheets, and tutorials.</p><p>BSO offers three options to file Forms W-2 electronically. The Wage File Upload application allows users to upload files created using compatible payroll software. The W-2 Online and W-2c Online applications allow users to directly enter Form W-2 information or corrections to the BSO website.</p><p><em>This column does not necessarily reflect the opinion of Bloomberg Industry Group, Inc., or its owners.</em></p><p><strong>Author Information</strong><br>Patrick Haggerty is the owner of a tax practice in Chapel Hill, North Carolina, and an enrolled agent licensed to practice before the Internal Revenue Service. The author may be contacted at <a href="mailto:phaggerty@prodigy.net">phaggerty@prodigy.net</a>.</p><p>Do you have a question for Payroll in Practice? Send it to <a href="mailto:phaggerty@prodigy.net">phaggerty@prodigy.net</a>.</p></div></div><div class="ContinueReading_container_1B2M2"><div class="ContinueReading_buttonWrapper_1B2M2"><button data-test="continue-reading" class="ContinueReading_button_1B2M2"> Continue Reading </button></div></div><div data-test="article-contact-us" class="ArticleBody_contact_1B2M2"><p>To contact the editor responsible for this story: <bw-person data-terminal-id="22309659" data-id="0000017c-9913-d3b8-ad7c-9ff79f130000" class="person" data-name="William Dunn">William Dunn</bw-person> at <a href="mailto:wdunn@bloombergindustry.com">wdunn@bloombergindustry.com</a></p></div></div><div data-test="article-cta" class="ArticleCta_cta_1B2M2"><h2 class="ArticleCta_noMainHeader_1B2M2"> Learn more about Bloomberg Tax or Log In to keep reading: </h2><div class="ArticleCta_ctaBoxes_1B2M2"><div class="ArticleCta_borderBox_1B2M2"><div class="ArticleCta_ctaGrid_1B2M2 ArticleCta_freeCtaGrid_1B2M2"><h3 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of the day from Bloomberg Law.","brand":{"type":"id","generated":false,"id":"Brand:00000160-e336-d594-a1ff-f37f8c8d0000","typename":"Brand"},"__typename":"Channel","private":true},"Channel:0000018d-8e4c-de43-a5ed-9fcd15b00000":{"id":"0000018d-8e4c-de43-a5ed-9fcd15b00000","emailDisplayName":"Transfer Pricing Report","name":"Transfer Pricing Free Trial","productCode":"PTNW","supportsFreeNewsletters":true,"newsletterDescription":"A weekly newsletter for tax professionals on the most important developments in transfer pricing. This newsletter will be free for a limited time only.","brand":{"type":"id","generated":false,"id":"Brand:00000160-e337-d4da-afe3-fbf7f8e60000","typename":"Brand"},"__typename":"Channel","private":true},"Article:00000193-208d-da09-a1b7-66ddab3a0002":{"__typename":"Article","id":"00000193-208d-da09-a1b7-66ddab3a0002","headline":"Payroll In Practice: 11.12.2024","subHeadline":null,"type":"INSIGHT","authorized":true,"postedDate":"2024-11-12T13:43:03Z","updatedDate":null,"byline":null,"snapshot":"\u003Cul\u003E\u003Cli\u003EFiling Forms W-2 and registering for Business Services Online if electronic filing is required\u003C\u002Fli\u003E\u003C\u002Ful\u003E","url":"https:\u002F\u002Fnews.bloombergtax.com\u002Fpayroll\u002Fpayroll-in-practice-11-12-2024","contactUs":"\u003Cp\u003ETo contact the editor responsible for this story: \u003Cbw-person data-terminal-id=\"22309659\" data-id=\"0000017c-9913-d3b8-ad7c-9ff79f130000\" class=\"person\" data-name=\"William Dunn\"\u003EWilliam Dunn\u003C\u002Fbw-person\u003E at \u003Ca href=\"mailto:wdunn@bloombergindustry.com\"\u003Ewdunn@bloombergindustry.com\u003C\u002Fa\u003E\u003C\u002Fp\u003E","revisionNumber":0,"canonicalUrl":"https:\u002F\u002Fnews.bloombergtax.com\u002Fpayroll\u002Fpayroll-in-practice-11-12-2024","summary":"\u003Cp\u003E\u003Cstrong\u003EQuestion: A new company has employees who were hired during the year. How should the company prepare for filing Forms W-2?\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E","guestSpeaker":false,"storyTag":null,"storyPresentationStyle":"STANDARD","ledeGraphic":null,"imageLede":null,"currentRevision":null,"reporters":[],"contributors":[{"type":"id","generated":false,"id":"ContributorAttribution:00000193-208e-da09-a1b7-66dfb0c30000","typename":"ContributorAttribution"}],"relatedArticles":[],"relatedDocuments":[],"topics":[{"type":"id","generated":false,"id":"topic:00000152-e727-da6a-abd2-ef3fcc700001","typename":"topic"},{"type":"id","generated":false,"id":"topic:00000152-e728-da6a-abd2-ef3c77fe0000","typename":"topic"},{"type":"id","generated":false,"id":"topic:00000152-e728-da6a-abd2-ef3c96280000","typename":"topic"},{"type":"id","generated":false,"id":"topic:00000152-e728-da6a-abd2-ef3c0eb40000","typename":"topic"},{"type":"id","generated":false,"id":"topic:00000152-e728-da6a-abd2-ef3c96300000","typename":"topic"},{"type":"id","generated":false,"id":"topic:00000152-e728-da6a-abd2-ef3c11310000","typename":"topic"},{"type":"id","generated":false,"id":"topic:00000152-e728-da6a-abd2-ef3ca3210000","typename":"topic"}],"companies":[],"lawFirms":[],"channel":{"type":"id","generated":false,"id":"Channel:00000163-16ab-d80a-a97f-77bfd0740000","typename":"Channel"},"channels":[{"type":"id","generated":false,"id":"Channel:00000163-16ab-d80a-a97f-77bfd0740000","typename":"Channel"}],"free":true,"body":"\u003Cdiv\u003E\u003Cp\u003E\u003Cstrong\u003EQuestion: A new company has employees who were hired during the year. How should the company prepare for filing Forms W-2?\u003C\u002Fstrong\u003E\u003C\u002Fp\u003E\u003Cp\u003E\u003Cstrong\u003EAnswer:\u003C\u002Fstrong\u003E Form W-2, Wage and Tax Statement, is used by a business to report payments it has made to employees for their services. Generally, an employer must provide a Form W-2 to each employee and must file the same information with the Social Security Administration.\u003C\u002Fp\u003E\u003Cp\u003EIt is important for a company to determine how it will meet the reporting requirements prior to the end of the calendar year. Many employers provide paper copies of the forms to employees, but an employer may provide the forms in electronic format if certain requirements are met. Filings with the SSA may also be in electronic or paper form.\u003C\u002Fp\u003E\u003Cp\u003EThe SSA requires that paper forms be machine readable. Official or approved substitute Forms printed in special red ink must be used when paper copies are filed with the SSA. An employer planning to file paper forms may \u003Ca href=\"https:\u002F\u002Fwww.irs.gov\u002Fforms-pubs\u002Forder-products\"\u003Eorder them from the IRS\u003C\u002Fa\u003E or purchase approved substitute forms from commercial office supply outlets.\u003C\u002Fp\u003E\u003Cp\u003EEmployers may electronically file Forms W-2 directly through the SSA’s Business Services Online portal. BSO is a free service provided by the SSA that offers employers greater processing accuracy, filing verification when compared to filing paper forms. An employer may also file indirectly through a third-party service provider. The filing due date for Forms W-2 is Jan. 31, whether filed on paper or electronically.\u003C\u002Fp\u003E\u003Cp\u003EA business must file information returns electronically if it is required to file 10 or more information returns during the calendar year. Under Treas. Reg. 26 CFR 301.6011-2 all information returns the employer is required to file are to be counted in the aggregate to determine if the 10-form filing threshold is reached. The forms to be included in the count are the 1042-S, 1094 series, 1095–B, 1095–C, 1097–BTC, 1098, 1098–C, 1098–E, 1098-F, 1098–Q, 1098–T, 1099 series, 3921, 3922, 5498, 5498-ESA, 5498-QA, 5498-SA, 8027, 8895-SSA, 8596, W–2G, and W-2 series.\u003C\u002Fp\u003E\u003Cp\u003EFor example, if a business is required to file five Forms 1099-NEC and five Forms W-2, the aggregate number of returns is 10, and the business must file all the forms electronically. If, instead, the business is filing five Forms 1099-NEC and four Forms 1099-INT, it is not required to file any of the forms electronically. The business may file all the forms on paper, all the forms electronically, or file some forms on paper and some electronically.\u003C\u002Fp\u003E\u003Cp\u003ETo file returns electronically, a business must have access to BSO. A BSO User ID and password may no longer be used to access BSO employer services. Individuals must have a Social Security username and password, or a Login.gov or ID.me credential to gain access to BSO.\u003C\u002Fp\u003E\u003Cp\u003EA user who lacks any of these accounts will have to create a Login.gov or ID.me account. This may be done by going to the \u003Ca href=\"https:\u002F\u002Fwww.ssa.gov\u002Fbso\u002Fbsowelcome.htm\"\u003EBSO Welcome\u003C\u002Fa\u003E web page and selecting “Create account” in the “Employers” box or “Representative Payees” box.\u003C\u002Fp\u003E\u003Cp\u003ELogin.gov is a federal government sign-in service that provides a simple, secure, and private way for the public to access government websites. ID.me is a single sign-on provider that meets the federal government’s online identity proofing and authentication requirements.\u003C\u002Fp\u003E\u003Cp\u003EOnce a credential has been obtained, a user can access the system by clicking “Log In” in the “Employers” box on the BSO Welcome page. After logging in, the user is asked to select a previously established UserID and password or create a new UserID. This ID allows the user to manage user and employer information, as well as request access to BSO services such as electronic wage reporting, the Social Security Number Verification Service, and AccuWage. This should be done prior to year-end because requesting access to BSO services requires an activation code mailed to the employer, which can take up to two weeks to arrive.\u003C\u002Fp\u003E\u003Cp\u003EThe BSO welcome page also has a link to the \u003Ca href=\"https:\u002F\u002Fwww.ssa.gov\u002Femployer\u002F\"\u003EEmployer information\u003C\u002Fa\u003E page that provides a wealth of information and resources related to filing Forms W-2, including handbooks, fact sheets, and tutorials.\u003C\u002Fp\u003E\u003Cp\u003EBSO offers three options to file Forms W-2 electronically. The Wage File Upload application allows users to upload files created using compatible payroll software. The W-2 Online and W-2c Online applications allow users to directly enter Form W-2 information or corrections to the BSO website.\u003C\u002Fp\u003E\u003Cp\u003E\u003Cem\u003EThis column does not necessarily reflect the opinion of Bloomberg Industry Group, Inc., or its owners.\u003C\u002Fem\u003E\u003C\u002Fp\u003E\u003Cp\u003E\u003Cstrong\u003EAuthor Information\u003C\u002Fstrong\u003E\u003Cbr\u003EPatrick Haggerty is the owner of a tax practice in Chapel Hill, North Carolina, and an enrolled agent licensed to practice before the Internal Revenue Service. The author may be contacted at \u003Ca href=\"mailto:phaggerty@prodigy.net\"\u003Ephaggerty@prodigy.net\u003C\u002Fa\u003E.\u003C\u002Fp\u003E\u003Cp\u003EDo you have a question for Payroll in Practice? Send it to \u003Ca href=\"mailto:phaggerty@prodigy.net\"\u003Ephaggerty@prodigy.net\u003C\u002Fa\u003E.\u003C\u002Fp\u003E\u003C\u002Fdiv\u003E","bodyJson":null,"noIndex":false,"terminalSuid":null},"ContributorAttribution:00000193-208e-da09-a1b7-66dfb0c30000":{"__typename":"ContributorAttribution","id":"00000193-208e-da09-a1b7-66dfb0c30000","name":"Patrick Haggerty","position":"Patrick A. 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