Electronic W-2s: Consent rates rise to 26.2% in latest tax year

For TALX clients, the average rate of consent to electronic-only W-2 delivery posted a strong gain in the tax season just ended, rising to 26.2% of all W-2s from 15.3% the year before.

Seven clients reached consent rates of over 50% - over half their employees needed no piece of paper whatsoever! That group included an insurance company, a major consulting firm, and a pharmaceutical company - outfits with large numbers of employees who are at their desks in front of computers for much of the day.

But even in the much tougher retail environment, TALX clients are racking up some great results. One major retailer with outlets nationwide saw its electronic W-2 consent rate jump to 48% in the most recent tax season, compared to 35% in the last tax season.

An electronic W-2 can't get lost, is more secure than something sent through physical mail, and it's available sooner – meaning quicker access to tax refunds. Include the ability to download an electronic W-2 directly into tax preparation software and you can see it adds up to a great employee service. That's not to mention the significant savings you gain for each employee who consents to electronic W-2s.

The TALX W-2 service, which securely handled 8.9 million W-2s for tax year 2009, also includes printing and distribution for employees who insist on the printed version as well as online employee service for reprints and correction requests. And, of course, an easy-to-use online consent form for the electronic option.

Let us remove the pain of W-2 season: send us an email at moreinfo@talx.com with "W-2" in the subject line to learn more about how the service reduces cost and improves employee service.

Newsletter: June 2010, Volume II