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May 30, 2024 · To reduce the risk of identity theft, you may truncate a payee's identification number on the statements you give to them on paper or in electronic format (usually designated Copy B). This includes the following: Substitute and composite substitute statements. Form 1095-C. Form 1098 series (except Form 1098-C) Form 1099 series. Form 5498 series.
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 ...
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).
Dec 22, 2020 · Employers can block out the initial five digits of employees’ SSNs and show only the remaining four digits. Employers must use asterisks or Xs to block out the first five digits. For example, ***-**-6789 or XXX-XX-6789. Employers are not allowed to truncate SSNs on W-2 copies filed with the Social Security Administration — meaning Copy A.
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.
Feb 5, 2020 · Here's how to delete a Social Security Number: Go the Payroll Center and proceed to the Employees tab. Select an employee and double-click on the name to open the profile. Look for Social Security No. in the Personal tab. Delete the information and click OK. Follow the same steps for the rest of the employee.
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To protect people from identity theft, the IRS issued a final rule that will let employers shorten employees' Social Security numbers on Form W-2 statements distributed to employees, beginning in ...
