Top 5 Year End Questions: W-2s

Employees know that you get your W-2 at the beginning of the year so that you can file your taxes. Business owners know there’s a lot that goes into getting that form into an employee’s hands. Hence, why we’re here! This Top 5 is dedicated to your questions on W-2s, taken right from the Community…so let’s start reading!

1. Does QuickBooks automatically generate and mail W2s?

When using Core Premium or Elite payroll services, you can choose how you want your payroll taxes and form filings handled. We can do this for you, or you can opt to pay for and file them yourself.

Here’s what happens when we do the work for you:

Even though they’ll be sent a paper copy in the mail, inviting your employees to QuickBooks Workforce is quick, and gives them accessibility to not only their W-2s, but to pay stubs as well. 

Note: The automated tax payment and form filing feature is enabled by default.

Here’s a deeper look into W-2 filing and access: Understand the timing for W-2 filing, delivery, and access for you and your employees.

2. How can I get a duplicate W-2 for a terminated employee?

As a reminder, if you’re using Core, Premium, Elite, Full Service, or Assisted Payroll, Intuit will print and mail employee W-2s for you automatically. 

Here’s how you can re-print a copy of your terminated employee’s W-2 form:

1. Go to the Taxes Menu.
2. Click Payroll Tax.
3. Under Annual Forms, click View and Print Archived Forms.
4. Look for the terminated employee’s W-2 and click on it.
5. Click View and print the tax form.

You can read more about printing W-2’s for your specific payroll service by checking out this article: Print your W-2 and W-3 forms.

3. How do I get a corrected W-2 for an employee?

Need to fix something on your employee’s W-2? No problem!

If you found the mistake before you manually file, make sure you make the corrections to the employee’s profile. For example, if their Social Security number is incorrect, here are the steps to update it:

1. Go to the Payroll menu.
2. Select Employees. 
3. Choose the employee's name. 
4. Click the Pencil icon beside Pay.
5. Go to the What are [employee] withholdings? section, then select the Pencil icon.
6. In the Social Security number field, delete the displayed digits.
7. Retype the correct SS#.
8. Click Done.

Note: There are things on the W-2 that can't be fixed:

• Employee prefix (Mr., Mrs., etc.)
• Employee address
• Business address

Once the information is corrected, you can fix the W-2. If the mistake is found after you’ve filed, you'll need to create and file a W-2c form with the Social Security Administration manually. To do this, see the General Instructions for Forms W-2c and W-3c section in General Instructions for Forms W-2 and W-3.

If we file for you (auto-pay is turned on), you can contact us and ask for a correction. We’ll fix it, file a W-2c form with the SSA, and mail the W-2c to your employee. You’ll also receive a copy. The expert you talk to can let you know approximately when you and your employee should expect to receive the W-2c.

4. If I sell my company mid-year how do I issue W2's to employees? 

If you sold your company mid year, annual tax forms will still be updated toward the end of the year. A downloadable Form W-2 for your tax year is available on the IRS website. Then, run payroll reports in QuickBooks and hand-write the amounts while you can still access your payroll records. 

Here's how to download the form: https://www.irs.gov/pub/irs-pdf/fw2.pdf. Then you can check out the Payroll Tax Liability Report to see what you've paid already.

It’s always a good idea to reach out to an accountant to verify if the new owner should be on the filing form at the end of the year. 

5. Why can’t my employee see their W-2?

W-2s aren't immediately available on January 1. W-2s are automatically sent to QuickBooks Workforce once Intuit files them and will typically be available after January 15.

In question one, we show you how to invite your employees to QuickBooks Workforce. Once that’s done, your employees can see copies of their W-2s online. If not, you can download the employee's W-2 form as a PDF and manually send it to them.

Here's how:

1. On the left panel, click Taxes.
2. Go to the Payroll Tax tab.
3. Under Forms, click Annual Forms.
4. Under Annual Tax Forms, scroll down to ‘The following forms are filed for each employee’ and select an employee.
5. Click W-2, Copies B,C & 2.
6. Choose the period.
7. Select View.
8. Click the download sign.