Form W-2AS

What Is Form W-2AS

Form W-2AS is essentially the American Samoa equivalent of the standard W-2 tax form used in the United States. The government mandates this IRS form for employers operating within American Samoa to provide to each of their employees and to the Social Security Administration (SSA). The purpose of Form W-2AS is to report the income earned by employees in American Samoa, as well as the taxes withheld by the employer over the fiscal year.

Who needs to file form W-2AS

The responsibility of filing Form W-2AS rests upon employers operating in American Samoa. It is a required form for every employee who has had taxes withheld or would have had taxes withheld if the employee's income were higher than the established threshold for taxation. Employees must receive their copy of W-2AS from their employer so that they can utilize the information when filing their individual income tax returns.

How to Fill Out Form W-2AS Guide 

Filling out the W-2AS form can be daunting for employers, especially if they are managing multiple employees. The process is detail-oriented, requiring accurate information regarding each employee's wages and taxes withheld. Essential steps for completing this template include:

1. Begin with the section designated for invalidation. If the information you're submitting is incorrect or the form is being reissued, mark 'VOID'.
2. Input the employee's Social Security Number (SSN) without dashes or spaces, accurately ensuring its alignment in the designated boxes.
3. In the space provided, enter your Employer Identification Number (EIN), also without spaces or dashes, ensuring it aligns with the correct boxes.
4. Write your full legal business name, followed by the accurate business mailing address, including the city, state, and ZIP code.
5. If there is an internal control number that your company uses to track this specific document, enter it in the 'Control number' area.
6. Under the employee information section, write the worker's first name and middle initial, followed by their last name and suffix if applicable.
7. Record the worker's complete address information, including the house or apartment number, street, city, state, and ZIP code.
8. Move on to report the employee's total earnings for the year, including wages, tips, and other compensation.
9. In the next line, you need to include the total amount of American Samoa income tax that has been withheld from the employee’s earnings.
10. Next, you will record the total amount of earnings subject to social security tax.
11. In the following space, specify the total social security tax amount that has been withheld from the employee’s earnings.
12. Enter the total wages and tips that are subject to Medicare tax.
13. After that, specify the total amount of Medicare tax that was withheld from those wages and tips.
14. Record any reported tips subject to social security tax that have not been included in the wages, tips, and other compensation section.
15. For any distributions made from nonqualified plans or deferred compensation, enter appropriate figures.
16. Examine the box labeled with instructions for special situations and conditions, such as deferred compensation, or other codes as specified in the form instructions, and fill in the relevant details.
17. Check the appropriate box if the employee is a statutory worker, if there is a retirement plan tied to them, or if they're receiving third-party sick pay.
18. Finally, in the last section, provide any additional information, such as dependent care benefits, that doesn't fit into the prior entries.

Make sure to verify all the information for accuracy before submitting or saving your filled form.

Ensuring accuracy and timeliness

Accuracy is non-negotiable when it comes to completing and submitting Form W-2AS. Errors can lead to delays or issues for both the employer and employee. Moreover, the form must be sent out to employees by January 31st following the reporting year and filed with the SSA by the same date to avoid penalties. As such, employers need to start preparing these forms before the filing deadline.