Employers must furnish each employee with a W-2 form no later than which date?

Employers are required to furnish a W-2 form to each employee by January 31 of the following year. The W-2 form reports the annual wages and the taxes withheld from an employee's paycheck. Providing the form by this date ensures that employees have ample time to prepare and file their income tax returns. The January 31 deadline is particularly important as it aligns with the IRS requirements for both taxpayers and the agency itself, facilitating the accurate reporting of income and tax payments.

The earlier dates provided in the other options do not comply with the IRS requirements. For instance, providing the W-2 by December 31 would be impractical, as employers must finalize payroll information for the entire year before they can issue tax documents. Offering it on January 1 is also unattainable, as the tax year is not complete at that point, making it impossible to accurately report earnings and withholding. Lastly, February 28 does not meet the IRS deadline, which is designed for ensuring timely tax reporting and compliance.