Navigating W2 Forms: Importance, Penalties, and Solutions

Understanding W2 forms is crucial for employers and employees alike. Failure to distribute them by January 31st can lead to significant penalties. This guide outlines W2 components, employer obligations, and potential penalties for non-compliance. It offers strategies to avoid penalties and steps for employees if they don't receive their forms on time, including contacting the IRS and filing taxes without a W2. For more information, please refer to the original article.