Why do employers wait to the very end of the month to send out W2's?

Answer 1

Employers have to wait until they receive all of the required information back from the accounting staff or payroll company before they can print W-2s. Many employees don't get their final check of the year until the first or 2nd week of January. The info from this final check has to go on the W-2s as well. Also, if your employer has a lot of employees, it takes time to gather all of the information and print the W-2s. If your employer uses a payroll company to handle paydays, you have to wait for that payroll company to print the W-2s, and usually they handle hundreds of companies, not just the one you work for. That is why they sometimes take so long.

Don't want to wait for your W2? Take your last pay stub of the year into H&R Block and they can do your taxes without the W-2.

Answer 2

Because it is a complex thing to do to not only prepare W2s for existing employees, but for anyone who worked there in the previous year. This also cannot be done until the beginning of the new year to be able to get all info together to print. The most common reason, though, is that legally they have until January 31 to do so and in some cases, can file for a extension in some cases to assure are in employees hands by February 15th.

Answer 3

The end of the year is a very busy time for accounting in general. Companies have tax returns they have to do as well, and they have a lot more financial stuff to sort through than you do. Most people don't file their tax returns as soon as they get their W-2's and other assorted tax-related papers. They have until April 15th and they take as much time as they need or are allowed. You can't expect all companies to act contrary to how people do.

Payroll adjustments are also a big factor. Adjusting social security and medicare year-to-date totals, waiting for third-party sick pay reports to be generated and sent by insurance companies, in general reviewing the total compansation of every employee, all fringe benefits offered that affect taxes (including medical coverage, life insurance, voluntary contributions to retirement accounts [i.e. 401(k)], flexible spending plans, and the list goes on) takes time.

Don't even get me started on multi-state employers (employers who have offices or employees in more than one state) and all the compliance issues that could be involved.

Suffice it to say that there can be a LOT of work involved in getting you your year's worth of compensation on a single piece of paper, repeated 3 times on that single piece of paper. And all that while making sure you get paid on payday while they're doing it.

Send flowers to your payroll department. They deserve it, lol.



In addition (since I saw some more answers come up after I finally submitted mine and typing one-handed takes time), you should know that when you worked does not matter so much as when you got PAID for working. W-2's list monies PAID in that year. If a paycheck is dated in January 2007 then the wages go on your 2007 W-2 and you have another year to go to get that one.

Generally, Payroll prints up the W-2's themselves, or if they use a 3rd party vendor (like ADP or Ceridian or Paychex) then they print the W-2's and send them to the Payroll department. Once Payroll has verified the accuracy of all data, they either mail them out or send them on to the next manager or director or corporate officer in whatever procedure company policy dictates. Sometimes it's a wonder they get in the mail in as soon as a month, lol.

Answer 4

They have to get all the info together and send it to the payroll department to print them up, then it takes a few days to get to your mailbox. It could be worse.. you could get it at the end of February or start of March.

Answer 5

Could just be a large corporation and they have only so many people working on it, or they can just be asses and make ya suffer ( if ya quit, got fired) Sometimes it's just something they don't wanna work on right away. I think it just depends on the company.

Answer 6

Yeah right?They do it because they can,because they are lazy,percrastenators,controlling ,broke,irresponsible or maybe they are looking out for your best interest because they do not want you to spend all your hard earned money all at once.lololoI I understand were you are coming from.

Answer 7

because like everyone else they put it off till the last available minute (although i got both mine already)

Answer 8

because they can