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originally posted by: aorAki
originally posted by: LewsTherinThelamon
My next door neighbor is very poor. I don't really feel like helping him out myself, so I'm coming over to your house and I am going to forcibly take your belongings to give to him.
You don't need to forcibly take them as I have already willingly offered them. If you don't feel like helping him out, that's fine, but remember that your taxes have already contributed to providing a hand up, so that we can work towards diminishing poverty and selfishness and aim for community and engagement.
What penalties are associated with W-2 reporting?
If you fail to file a correct W-2 by the due date, and cannot show reasonable cause, you may be subject to a penalty. Penalties apply for:
Failing to file on time
Failing to include all required information
Failing to meet electronic filing requirements
Failing to file compliant paper forms
Or, failing to include correct information
The amount of the penalty is based on when the W-2 is filed:
$50 per Form W-2 if you file after August 2 or you do not file the required Forms W-2. The maximum penalty is $250,000 per year ($100,000 for small businesses).