Most taxpayers got their W-2 Forms by the end of January. Form W-2, Wage and Tax Statement, shows the income and taxes withheld from an employee\u2019s pay for the year. Taxpayers need it to file an accurate tax return.<\/p>\n
If a taxpayer hasn\u2019t received their form by mid-February, here\u2019s what they should do:<\/p>\n
Contact the Employer<\/strong>.<\/strong>\u00a0Taxpayers should ask their employer (or former employer) for a copy of their W-2. Verify that the employer has the correct address.<\/p>\n Call the IRS<\/strong>.<\/strong>\u00a0If a taxpayer is unable to get a copy from their employer, they may call the IRS after Feb. 27. The IRS will send a letter to the employer on the taxpayer\u2019s behalf. The taxpayer will need the following when they call:<\/p>\n Call the Social Security Office.<\/strong>\u00a0The SSA can provide copies of W-2s for years from 1978 through the current year. If the W-2s are needed to file tax returns, the SSA charges a fee of $86 for each year.<\/p>\n Call Your Tax Professional.<\/strong>\u00a0Your tax professional, armed with Form 2848, Power of Attorney, may be able to obtain your W-2 earnings and federal income tax withholdings from IRS transcripts.<\/p>\n Keep in mind that the IRS is only concerned about federal tax matters. Thus if you need to file a state income tax return, the IRS\u2019s records will not include this information. This is why it is best to always obtain the W-2s from the employer. The IRS\u2019s computers often post the wage information in August of the succeeding year. Thus, there is the time element that must be considered. In cases when the taxpayer cannot file by April 15 due to a missing W-2, file for an extension of time to file. Remember that an extension of time to file your return is not an extension of time to pay taxes owed. Therefore, it is best to estimate the taxes due and pay by April 15 to minimize penalty and interest assessments on balances due.<\/p>\n If a taxpayer has exhausted all of the above<\/em><\/strong> and needs to file Form 1040, taxpayers should consider using IRS Form 4852, Substitute for Form W-2, Wage and Tax Statement. They should estimate their wages and taxes withheld as best as possible (using a pay stub when available).<\/p>\n If you want to discuss your business or personal tax planning<\/a>, tax preparation<\/a> and other financial concerns with an experienced tax professional, we invite you to call 610-594-2601<\/a> today to make an appointment at our Exton PA CPA office<\/a> to discuss your situation. You can also schedule a consultation at Click Here<\/a>.<\/p>\n Most taxpayers got their W-2 Forms by the end of January. Form W-2, Wage and Tax Statement, shows the income and taxes withheld from an employee\u2019s pay for the year. Taxpayers need it to file an accurate tax return. If a taxpayer hasn\u2019t received their form by mid-February, here\u2019s what they should do:<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[3],"tags":[],"class_list":{"0":"post-2224","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-irs-tax-planning-ideas-tips-news","7":"entry"},"aioseo_notices":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9W9tf-zS","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/keysolutions.us\/blog\/wp-json\/wp\/v2\/posts\/2224","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/keysolutions.us\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/keysolutions.us\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/keysolutions.us\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/keysolutions.us\/blog\/wp-json\/wp\/v2\/comments?post=2224"}],"version-history":[{"count":1,"href":"https:\/\/keysolutions.us\/blog\/wp-json\/wp\/v2\/posts\/2224\/revisions"}],"predecessor-version":[{"id":2225,"href":"https:\/\/keysolutions.us\/blog\/wp-json\/wp\/v2\/posts\/2224\/revisions\/2225"}],"wp:attachment":[{"href":"https:\/\/keysolutions.us\/blog\/wp-json\/wp\/v2\/media?parent=2224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/keysolutions.us\/blog\/wp-json\/wp\/v2\/categories?post=2224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/keysolutions.us\/blog\/wp-json\/wp\/v2\/tags?post=2224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
Copyright \u00a9 2017 Keystone Financial Solutions, P.C.\u00a0 All rights reserved.\u00a0 BE SURE TO READ THE DISCLAIMER PAGE: Content in this blog is for educational purposes only and should not be considered as the rendering of tax, legal or investment advice. The publisher of this blog makes no representations as to the accuracy or completeness of any information herein, will not be liable for any errors or omissions, and shall not assume liability for any losses, injuries, or damages from the display or use of this information.<\/strong><\/h6>\n","protected":false},"excerpt":{"rendered":"