Draft W2

[Snaggletooth]

Are there 2025 Forms W2 available yet? Drafts or Final

[New York Enrolled Agent]

As per IRS, the final form for w-2 was posted on January 7, 2025. Got to IRS site.

[TaxGuyBill]

As NYEA said, the 2025 version was been available for a long time. If you are asking about the 2026 version, yes, there is a draft available.

https://www.irs.gov/pub/irs-pdf/fw2.pdf

https://www.irs.gov/pub/irs-dft/fw2--dft.pdf

[Snaggletooth]

As per IRS, the final form for w-2 was posted on January 7, 2025. Got to IRS site.

Thank You NYEA, but there was a reason why there should be a later version. If, as the politicians claim, some wages classified as overtime would prompt changes because of the "big beautiful bill". If the only version was released January 7th there should be a revision, unless I'm missing something.

[New York Enrolled Agent]

Look at IRS IR-2025-82. No change to 2025 information forms.

[Snaggletooth]

Thank you. I've read the release and apparently there is nothing on the information returns to calculate the effect of overtime or tips for 2025. The calculation apparently is in the hands of the taxpayers and preparers. I smell a train wreck coming. Readers are invited to comment and advise how best to handle the problem.

[kathyc2]

Thank you. I've read the release and apparently there is nothing on the information returns to calculate the effect of overtime or tips for 2025. The calculation apparently is in the hands of the taxpayers and preparers. I smell a train wreck coming. Readers are invited to comment and advise how best to handle the problem.

Employers still need to provide a statement, it just doesn't need to be on W2.

TRANSITION RULE.—In the case of qualified overtime compensation required to be reported for periods before January 1, 2026, persons required to file returns or statements under section 6051(a)(19), 6041(a), or 6041(d)(4) of the Internal Revenue Code of 1986 (as amended by this section) may approximate a separate accounting of amounts designated as qualified overtime compensation by any reasonable method specified by the Secretary.

[Snaggletooth]

Employers still need to provide a statement, it just doesn't need to be on W2.

Yes, of course, this is one way, and the employers can bring a solution. Of course, the employer should know how to qualify overtime, and be ethical enough to report correctly. They may not know what qualifies, and they will probably consider lack of integrity if they, or their employees can benefit.

Of course, being as astute as you are, you certainly knew this when you posted. I will have a live seminar in November and I'm sure this will be a lively point of the curriculum.

Thanx for your response.

[spanel]

Should not "tips" be on the box W2 7/8 already? The only thing and good luck with this, would be the tips charged based off party size or forced tipping that does not quality.

As far as overtime, hopefully the final paycheck has..

1.5x overtime
2x overtime
etc.

Otherwise a letter from the employer would be necessary if it just says "overtime" without a breakout of the "premium" part of the OT.

Our great state of IL does NOT breakdown the 1.5x vs 2.0x on the stubs unfortunately.

Chris

[spanel]

Tips issue will be for Sch C. What part of the income is from tips (assuming you turned that in)

Chris

[kathyc2]

Yes, of course, this is one way, and the employers can bring a solution. Of course, the employer should know how to qualify overtime, and be ethical enough to report correctly. They may not know what qualifies, and they will probably consider lack of integrity if they, or their employees can benefit.

Any employer that does not know how to calculate OT has no business preparing their own payroll forms.

[spanel]

Any employer that does not know how to calculate OT has no business preparing their own payroll forms.

I am probably going to insist on a paystub showing OT & a letter from the employer breaking down 1.5x/2.0x etc.

Chris

[kathyc2]

As far as overtime, hopefully the final paycheck has..

1.5x overtime
2x overtime
etc.


Chris

Yes, for a lot of hourly workers it will be a simple calculation. Those under collective bargaining, what is considered OT may not be the same as DOL OT.

Some industries standard is to pay on output rather than hourly. Lot of room for errors there.

I think a lot of workers think the deduction will be a lot bigger than what it will turn out to be. Those that choose to get mad about it, will not be invited back for the next year. I didn't write the law and will have zero tolerance for those that take their frustration out on me.

[New York Enrolled Agent]

Should not "tips" be on the box W2 7/8 already? The only thing and good luck with this, would be the tips charged based off party size or forced tipping that does not quality.


Chris

In addition to that could also be a problem if the employer is an SSTB