Musings of a Burbank CPA: IRS May Shift W-2 Deadlines to Combat Identity Theft and Tax Fraud

Well the Government Accounting Office (GAO) is pushing the IRS to require W2s be filed with the Social Security Administration by January 31 and that Efiling of W2s be required when more than 5 to 10 (no specific number yet) are filed.  This will allow the IRS to match W2s before refunds are issued (hopefully) and cut down on identity thieves filing for false refunds.  See the details in this article in Accounting Today by Micheal Cohn:

http://www.accountingtoday.com/news/irs-watch/irs-shift-w2-deadlines-combat-identity-theft-tax-fraud-72062-1.html

Never mind the pressure this will put on payroll services and accountants to get W2s done that much earlier – with the IRS barely into the 21st century as far as computers and tech , will they really be able to match things that much sooner?  Also there are rumblings that Congress is being asked by the Treasury Department to accelerate the W2 filing deadline; I will believe that when I see it.

 Fraud - MiscDollar Fourth of July For financial,  accounting and tax musings,

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