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Dec 10, 2020 · The Internal Revenue Service (IRS) has issued final regulations (TD 9861, Use of Truncated Taxpayer Identification Numbers on Forms W-2, Wage and Tax Statement, Furnished to Employees), which allow employers to truncate employees' Social Security Numbers on copies of Forms W-2 that are furnished to employees, effective for Forms W-2 required to be furnished after 12/31/2020 (i.e., Forms W-2 ...
In T.D. 9861 , the IRS issued final regulations that give employers the option of truncating the Social Security Number (SSN) on copies of Forms W-2, Wage and Tax Statement , that are furnished to employees effective with returns and statements required to be filed and furnished after December 31, 2020. The provision also applies to employee copies of Forms W-2c, Corrected Wage and Tax Statement.
Dec 22, 2020 · Employers are not allowed to truncate SSNs on W-2 copies filed with the Social Security Administration — meaning Copy A. The final rule covers Form W-2s issued to employees after Dec. 31, 2020. The final rule is voluntary for employers — meaning you can keep displaying employees’ full SSNs on their W-2s if you prefer.
Jul 3, 2019 · IRS has issued final regs that amend existing regs to permit employers to voluntarily truncate employees’ social security numbers (SSNs) on, e.g., copies of Forms W-2, Wage and Tax Statement, that are furnished to employees. The final regs do not allow truncated numbers on W-2 forms filed with the Social Security Administration (SSA).
Jul 9, 2019 · Final U.S Treasury regulations published July 2, 2019, adopt without change a proposal to allow employers to use truncated social security numbers (SSNs) on the employee copies of Forms W-2. The change is intended to help prevent identity theft by revealing only the last four digits of the employee’s SSN. For the regulations, go to https ...
The final regulations permit employers to truncate employees’ SSNs to appear in the form of a TTIN on copies of Forms W-2 that are furnished to employees under IRC §6051 (copies B, C, and 2). It is important to note that truncation of SSNs on employee copies of Form W-2 will not be required. The decision is entirely up to the employer.
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Nov 22, 2019 · Final regulations from the Internal Revenue Service (IRS) give employers decision-making rights on whether to truncate their employees’ Social Security Numbers (SSN) on Form W2, Wage and Tax Statement. The rule, which began its journey in 2017 as a set of proposed regulations, is another step in the right direction toward protecting employees from identity ...
