ME: Are the W2's out yet?
THEM: W2's won't be mailed out until January 31.
ME: Why is that?
THEM: Don't ask me, pal, I just work here.

Can someone explain to me how this decision benefits the company in any way? Because I just don't see it.

(I doubt it matters, but in this case, the employer in question is one of those massive casino companies that's been pretty much broke throughout the entire economic downturn. Could it be that they've laid off so many folks in accounting, that the few remaining will have to work right up to the deadline to get these forms prepared? I mean, is there anything to prepare? Don't they just hit a button, and watch the computer spit these things out???)

prob cuz they can and aren't required to send them out before.

Because it gives them the max time to get it done, make corrections, etc... That's the last day they are legally required to put them out. They probably can't start them until a little bit after the new year. Why rush it?

Yep, some bosses wait til the last possible day because they don't want to fool with it. Sometimes they even take it to the extreme by using the "it has to be postmarked by the 31st, not mailed by the 31st" loophole to give them a little more extra time. So it doesn't benefit them in any way financially, it just sort of benefits them in the same way you benefit from being able to say "I'll do the dishes later, new CSI is on now".

I didn't get the W2's out for our company until January 15th and we're talking a much smaller company (I sent out like 210). Yes, when you are finally ready to do it you just click a button and the computer prints them out on premade forms and everything. The problem is that there is a lot of accounting time before that, especially if your accounting department isn't very good because you might end up with different numbers from different computer programs and/or your in house accounting program might not be calculating withholdings correctly for certain employees for whatever reason. You then have to hunt down the source of each of these errors and reconcile everything before you can be "done" with that tax year and move all your accounting systems forward for the new year.

W2's will not get printed until everything is right. I would venture to guess that they could probably get it done quite a bit earlier than Jan 31 but it's easier for them to just stick with that policy and give themselves as much breathing room as possible given any unforseen problems. Also, I now have my employer W2 in my hand but I can't really do anything because I haven't received 1099's and whatnot from other accounts so I'm not sure what the big rush is anyway.

"Oh, January 1st! Better get going on those taxes, Neddy!"

this

your boss: when are you coming in to work tomorrow?
you: i won't be there until i'm scheduled to work which is at 8am
your boss: why aren't you coming in early?
you: because i don't have to

brag: my company will let me view and print my W2 online. Won't have to wait. Sometime next week.

But yea, because there's no incentive to hurry is probably your answer.

does anyone do anything before they have to?

We use ADP for our payroll. Got the package from ADP a couple of weeks ago, distributed them shortly thereafter. Easy peasy.

people itt might need their refund money sooner than others

fix your own withholding then

probably the warmer the weather more people spend of their new tax refund..

edit: probably not

anyone due a refund probably made some sucker choices in their withholding because a refund means you gave the government an interest-free loan

anyone who thinks getting a refund is cool is welcome to send me money from every paycheck that i will happily refund to them in spring of the next year

I have a couple coworkers who knowingly withhold too much as it forces them to save. Though, it seems every year at this time, they use the refund $$ to pay down a certain credit card or something similar, so they aren't really "saving" the money. But at least they're saving, even at a 0% rate. Better than not saving.

This is one of those things people say that they think is clever and insightful but is actually hackneyed and really annoying.

Well if they are paying off a credit card then its demonstrably a lot worse than not saving.

Co-worker reminded me of the first part yesterday, which got me excited...no waiting for Jan 31st here

I probably would wait if I was an employer too, it's not like they get a bonus for sending them early to you :-\

Just finished my taxes and am super pumped to ship many many BI to the government

This means the same thing afaik

it's completely true

are you trolling or what? talk about a LC/NC post...

That it's true doesn't mean you're not a giant cockbog for pointing it out. Everybody gets it by now, and they don't need Captain Snarky McSucksatposting to point it out.

QFT

To be clear, a cockbog is a bog, filled with disembodied ***** and JiD is mos def one of those.

ETA- lol censor logic, I assume you let TT program that one?

Except everybody doesn't get it by now. You'd be surprised how many people are completely ******ed when it comes to the simplest of economic concepts.