Finalized instructions for reporting payroll data for 2021 using Form W-2, Wage and Tax Statement, and Form W-3, Transmittal of Wage and Tax Statements, were released Feb. 1 by the Internal Revenue Service.
The instructions, which offer guidance on reporting deferred amounts of the employee portion of Social Security tax, were not changed from the Jan. 27 draft version.
Employers are to use box 4 (Social Security tax withheld) of Form W-2c, Corrected Wage and Tax Statement, to report amounts of the employee portion of Social Security tax that were deferred in 2020 and then withheld in 2021, the ...
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