Working for an employers has some benefits especially during tax season, since it is the employers task to accomplish your W2 form and in this form all your earnings are summarized complete with all the taxes that you have paid. However, there are some employers that don’t issue this to their employers. What should you do when this is the case?
W2 forms are also called an information tax return. In this form you will find your wages and tax statement. The specific amount that you were actually paid, and the amount the employer paid out in wages is contained in this form. Then the W2 forms will be gathered by the employer so that he can file al the forms at one time. The IRS will then receive the information on employers wagers and then they will compare it with the deductions and payroll taxes.
The accomplished W2 form would then be given to every employee by the end of the first month of the year. You will find certain employers who are delinquent in this task of providing W2 forms to employees. Anyway, they don’t get any benefit if he does not send them. It is like there is something fishy going on. The reality is that it is a burdensome task.
Get data form the person responsible for the payroll so that you. can accomplish the W2 form yourself. It can be that they haven’t finished doing the tax forms because this is not easy work. IF you don’t want your W2 form lost in the mail, then you should ensure that they have your current address written correctly. You can report your employer to the IRS if you see that they are really delinquent in the task. The IRS usually takes action on these types of employers.
If you don’t have your W2 form when it is nearing the deadline for filing your tax return, you need to try to figure our on your own your earnings and the taxes withheld off your paycheck stubs. With this you will also need to accompany it with another tax form, the Form 4825.
If this is not getting you anywhere, seek the help of a tax professional who can help you file your tax return and help you research all the wages and withheld tax the company has deducted from your wages. Having a tax professional who will take charge of everything will give you great convenience since he will be the one to ensure that you income tax return in filed on time and not on a later date when you can incur penalties. The figures on your tax form will also be more accurate. So, while it is still early, make sure that you employer is doing something about your W2 forms.