The tax season is arriving!!! Even if the slightest idea of taxes might make your head spin around, they are the basic requirements of today’s lives. Want to know how to get a W-2 from your previous employer? Let’s discuss this in detail and get you covered by all sides.
Why do you need your W-2?
Your W-2 is known as Wage and Tax Form Statment. It showcases the allowance you have received from your employer in a year. At the start of the year, you will usually receive this W-2 form. Each and every employer must provide employees who has received at least $600 over a particular year, a W-2 form.
Therefore you need this information to resolve your earnings. Being that said, the W-2 offers more than just a summary of your allowance. It shows how much you have earned towards your retirement plan like 401(k), what you paid for health insurance, if you made any other deductions.
Legal Limitation of W-2 Form:
IRS require the employers to provide a W-2 form to government and employees latest by 31st January. Fail to compensate this deadline, penalties will be held upon you. So, this doesn’t mean that you will genuinely receive a W-2 form by 31st january!!! It means that your employer must get it in his inbox by that date.
Same as all the documents, you should scan the W-2 form thoroughly when you receive it. Employers might leave a 0, or they might spell your last name wrong by a letter. If this happens, you need to make sure that the employer gets a notification of this and rectify this error as soon as possible. This may take some time but it’s important.
How To Get a W-2 from Previous Employer?
If your W-2 form doesn’t arrive by the designated date, then you must do the following things:
Reach out to your Former Employer
Ask your former HR exemplary for a copy of W-2 form. Make sure that you have provided them with the correct information about your address. If you were working for a very small employer then they might not have an HR exemplary. In that scneario, directly reach out to your boss.
Examine your Payroll
You can get your W-2 by getting in touch with your payroll administrator. You can reach out to them via email or by calling them. You just need to confirm the important details of your employment. You will also need to verify your current address. In case the payroll administrator states that they have already mailed you, ask them to confirm the date once.
Contact the IRS
If the above information won’t work for you, don’t worry you can reach the IRS directly. They will ask about significant information about your employer. They will also ask about your wages and salary. To make it simple, find out your employer’s identification number (EIN). You can find this information on your last paycheck stub on last year’s form.
Filing your Taxes
Regardless of when you regardless of W-2, your tax return is still due on April 15. This means you need to estimate your withholdings as well as your earnings to complete your return on time. The IRS allows the individuals to use the Form 4852 as an substitute for your W-2 form.
However you should try to secure your W-2 before you opt for this option. On this form you will need to provide your wages, salary and other allowances. You will need to indicate this about the IRS on not receiving the W-2 form. Always keep a copy of your Form 4852 for your records.
This will be needed when audit is going to happen. If you receive your W-2 after filing your taxes with a Form 4852, you might enhance your return by filing out Form 1040x. You will be held liable for filing out your taxes with relevant information.
This applies irregardless of the form- and regardless of whether or not the original information provided was correct. The IRS can audit as well as penalties every individual who attempt to avoid or reduce federal tax liability.
Now you know how can you get W-2 form from your previous employer. You are responsible of your financial well-being. This means that you’re in charge of getting your taxes done quickly and efficiently. If you everget into trouble, just check out this guide and all of your problem will gets solved quickly.
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