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Megan C
Megan C , Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 16539
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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Sole Proprietor Husband Wife w/ employees 1/1/12 - 5/31/2012 S-Corp

Resolved Question:

Sole Proprietor Husband Wife w/ employees 1/1/12 - 5/31/2012
S-Corp w/ employess 6/1/12-12/31/12 (new tax id number)

Do I issue my employees two W-2s from each tax id or 1 W-2 from the new tax id number?
I had to enter my prior paychecks into the new tax id's quickbooks online so taxes would calculate properly. So my W2s for the new tax ID is reflecting the entire year for both tax ids.
Submitted: 3 years ago.
Category: Finance
Expert:  Megan C replied 3 years ago.
Thank you for your question, and thanks for using JustAnswer.com.

The correct thing to do is to issue two W-2 forms, one from each company. The IRS already has record of you paying your quarterly taxes on the first company and it will mess things up if you just issue one W-2 for both amounts.

So, 2 W-2 forms for each employee. This may involve some manual calculations, and your W-2s for your second company may need to be manually entered.

I hope this makes sense. Please let me know if you need further assistance. Thanks for using JustAnswer.com and have a happy, and safe, 2013.

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Expert:  Megan C replied 3 years ago.
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