W-2s to my children for work performed throughout the year, do I need to send these to the IRS first? What is the general rule of thumb for these $12,500 max.

I wasn't planning on paying them the max, all teenagers who've helped throughout the year with my business.

116

Level 15

Jan 18, 2023 8:40:26 AM

Did you actually pay your children during the 2022 tax year, withhold taxes and FICA and file the 941s?

If so, you need to prepare the W-2s and W-3, file them with the IRS, and issue the W-2s to your children.

What do you mean by "general rule of thumb...."?