700.15 - HR-Payroll Policy - W-2 Wage and Tax Statements

Policy Area:  HR/Payroll
Policy Sub Area:  Payroll
Authority:  G.S. 143B-426.39 Powers and Duties of the State Controller
Effective Date:  7/1/2007
Last Revision Date:  N/A
Policy Owner/Division:  HR-Payroll

Policy

All State entities, shall issue accurate W-2 Tax and Wage Statements as mandated by federal and state regulations.

G.S. 143B-426.39 Powers and Duties of the State Controller
http://www.ncleg.net/EnactedLegislation/Statutes/HTML/BySection/Chapter_143B/GS_143B-426.39.html

Procedures

According to the IRS Topic 752, employers are to furnish copies B, C, and 2 of Form W-2 to employees by January 31, unless January 31 is a Saturday or Sunday.  If January 31 is a Saturday, February 2 is the furnish date and if January 31 is a Sunday, February 1 is the furnish date.  If an employee stops working for the employer before the end of the year, the employer must give the former employee the W-2 any time prior to January 31, but no later.  If requested by the employee, Form W-2 must be furnished within 30 days of the final wage payment, whichever is later.

Accounting Guidance

N/A

Related Documents (Memos/Forms)

G.S. 143B-426.39 Powers and Duties of the State Controller
http://www.ncleg.net/EnactedLegislation/Statutes/HTML/BySection/Chapter_143B/GS_143B-426.39.html

G.S.105 Taxation
http://www.ncga.state.nc.us/EnactedLegislation/Statutes/PDF/ByChapter/Chapter_105.pdf

IRS Publication 15 Circular E and IRS Topic 752-Form W-2 – Where, When, and How to File
http://www.irs.gov/pub/irs-pdf/p15.pdf
http://www.irs.gov/taxtopics/tc752.html

Revision History

  • None to date