31 January 2020 Kentucky DOR extends deadline for 2019 Forms W-2 filing to February 15, 2020 The Kentucky Department of Revenue announced that the deadline for filing Forms W-2 and Kentucky Form K-5, Employer’s Report of Withholding Tax Statements, is extended from January 31, 2020 to February 15, 2020, due to issues with the state’s electronic reporting system. According to a Department representative, the extension applies to all Kentucky withholding tax filers, including those with 25 or fewer Forms W-2 to file. As we reported previously, employers submitting 26 or more Forms W-2/1099 to the Department must do so electronically over the Department’s website (preferred method) or on CD-ROM. Forms 1099 are only filed with the Department if state income tax was withheld. (EY Payroll Newsflash Vol. 21, #004, 1-7-2020.) Employers reporting fewer than 26 Forms W-2 that cannot file electronically or on CD are required to file Form K-5, listing the information from the Forms W-2 on Form K-5, rather than submitting the actual Forms W-2. Paper copies of Forms W-2 should not be mailed to the Department; those received by the Department will not be processed and will not be considered filed. Employers are instructed to retain the Forms W-2 for their records and only provide copies upon request. Form K-5 is completed online and either filed electronically by clicking the submit button or printed with a barcode and mailed to DOR. The K-5 print and mail option is only available for those reporting fewer than 26 withholding statements. For more information on electronic and CD reporting, see the 2019 Form W-2 specifications. Go here for the 1099 specifications if filing on CD (online filing not allowed). As we reported, the Department released the 2020 income tax withholding computer formula and wage-bracket tables. As we reported previously, effective with tax years beginning on and after January 1, 2018, Kentucky enacted a flat 5% income tax rate (HB 366), replacing the graduated personal and corporate income tax tables. Due to this change, all Kentucky taxpayers are taxed at 5% with an allowance for the standard deduction. (EY Payroll Newsflashes Vol. 19, #084, 5-10-2018 and #124, 7-25-2018.)
Document ID: 2020-0255 | |||||||||
