This time of year brings many IRS deadlines. Churches have three action items that are due on February 28. Make sure that you complete these on time:
– Submit Copy A of each Form W-2 issued to employees, along with the accompanying Form W-3 which summarizes the Form W-2s. This is the ‘paper’ deadline date for submitting to the Social Security Administration. If you file electronically, you can wait until March 31, 2013.
– Submit Copy A of each Form 1099-MISC that you issued to self-employed contractors, along with the accompanying Form 1096 which summarizes the Form 1099. This is the ‘paper’ deadline, and the documents should be sent to the IRS (not the Social Security Administration). The electronic filing deadline is March 31, 2013.
– File Form 1098-C if you sold or used a vehicle donated to your church. This form should be sent to the IRS.
Because you had to issue Form W-2 to employees and Form 1099 to contractors by January 31, the February 28 deadline gives recipients time to notify you about discrepancies.