Traverse City MI, 11/29/2018 - The Protecting Americans From Tax Hikes Act (PATH Act) from 2015 was introduced with the sole aim of reducing the amount of tax fraud in the United States. It was becoming somewhat of a disturbing trend for identity thieves to file very early into the tax season so they could receive refunds from the IRS before any data can be verified from the employers involved. In order to combat this trend, the IRS has accelerated the filing deadlines for the 1099s and W-2 forms as part of new changes to the PATH Act. Internet Tax Connection sheds more light on what the new accelerated filing deadlines are and what impact it has on taxpayers filing form 1099s and W-2s.

For the W-2 form, the new due date for paper copy A, which is sent to the Social Security Administration is now January 31. This new due date also applies to the electronic version which used to be due by March 31. Also, the due filing date for the 1099-MISC forms has been accelerated to the 31st of January regardless of whether they are filed on paper or electronically.

This implies that there is now no time to file corrections before the due date. As a result, the PATH Act has implemented a safe harbor rule. For minor changes, there’s no penalty for filing an error and it can be corrected later on.

The tax blog also notes that there are now new penalties for taxpayers who file late or fail to file at all. Taxpayers who file up to 30 days late will now have to pay a $50 fine per form while those that file later than 30 days will pay a $100 fine per form. Defaulters or filers that submit their forms after August 1st will pay the heaviest fine and will be subjected to a $260 fine per form.

In order to avoid incurring such penalties, taxpayers should make note of the new due dates immediately and ensure that they send their forms for tax filing with the SSA or IRS on or before January 31.

For additional information about the new Accelerated Filing Deadlines for 1099s and W-2s please visit,

About Frank Ellis
Frank Ellis is a Traverse City Tax Preparation Planner and published author. He has written tax and finance related articles for eight years and has published over 900 articles on leading financial websites.

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Frank Ellis
Internet Tax Connection
945 East 8th Street Suite A
Traverse City, Michigan 49686

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