How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Megan C Your Own Question
Megan C
Megan C, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 16580
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
Type Your Finance Question Here...
Megan C is online now
A new question is answered every 9 seconds

Sole Proprietor Husband Wife w/ employees 1/1/12 - 5/31/2012 S-Corp

This answer was rated:

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.
Thank you for your question, and thanks for using

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 and have a happy, and safe, 2013.

** Please take a moment to rate my response as "Excellent" so that I may be compensated for assisting you today. Please let me know if my assistance was anything less than "OK Service", as I am compensated based on whether or not I have assisted you with your issue. If you need further clarifications, PLEASE WAIT TO RATE MY ANSWER UNTIL AFTER RECEIVING FOLLOW UP FROM ME. If I receive anything less than OK Service, I do not get paid. Thank you for your kind understanding in this matter. If you have difficulties rating, then simply respond stating that you are having difficulties rating and thank me for my excellent, good, or ok service and we can get the rating applied by the site*
You should be aware that your question, as with most tax questions, can never really be answered completely...addressing all the permutations; that is because of the many assumptions that have to be made I have done my best to determine what I think you are asking and answering it in the most direct and understandable manner possible. If, however, after reviewing the questions, you have any uncertainties or further questions, please do not hesitate to ask.

Megan C and other Finance Specialists are ready to help you
Thank you for the positive rating. Please remember me the next time you have a question. Simply enter "MyVirtualCPA" in the subject of your question, and it will be routed directly to me. Thank you again for using JustAnswer