IRS updates substitute forms W-2/W-3 guidance

The IRS has released the general rules for filing and reproducing paper substitutes for Form W-2, Wage and Tax Statement, and Form W-3, Transmittal of Wage and Tax Statements, for wages paid during the 2017 calendar year. Form W-2 (Copy A) or any other copies of a substitute Form W-2 or a substitute Form W-3 must conform to the specifications in the newly released guidance to be acceptable to the IRS and the SSA. IRS offices are not authorized to allow deviations from the specification.What’s New?
(1) New Box 9 Verification code. Box 9 is used by participants in the W-2 Verification Code initiative. For more information, go to individuals/W-2-verification-code.
(2) New Box 12 Code FF. A new box 12 Code FF has been added to report the total amount of permitted benefits under a qualified small employer health reimbursement arrangement (QSEHRA).
For more information, see the 21st Century Cures Act, Public Law 114-255, Division C, Section 18001.
(3) Editorial changes. The IRS made editorial changes. Redundancies were eliminated as much as possible. (Rev. Proc. 2017-42, IRB 2017-29,(IRS Publication 1141), July 17, 2017.)

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