W-2 electronic filing bill receives approval in House

House Bill 2108, sponsored by Rep. Justin Alferman, received first round approval in the Missouri House today.

AlfermanThe Missouri Department of Revenue has recommended requiring W-2 data to be sent by employers electronically. They brought their plan to Associated Industries of Missouri prior to the start of the legislative session and our AIM Tax Committee made suggestions for changes, all of which were made.  AIM supports the bill requiring the electronic filing of W-2 data as set forth in the bill.

The bill is an effort to crack down on around $40 million in individual income tax fraud and mirrors the IRS electronic filing requirement. Only businesses with more than 250 employees would be subject to the requirement.  Such businesses already must file the data electronically with the IRS. Exceptions allowed from the electronic filing at the federal level would also be allowed at the state level.