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. So when this happens you will have to find a way to know these important information so that you can file your tax returns accurately.
W2 forms are information tax returns. This is the form you will submit to the IRS so that they will know your total 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. When everything is in order, the employer will then give the W2 forms to the IRS. This gives the IRS a record of all the wages paid by the employer and match it with all the deductions and payroll taxes.
All employers are required to issue W2 forms by the end of the first month of the year. However, many employers fail in this task. Anyway, they don’t get any benefit if he does not send them. You might say it sounds fishy, but most of the time, it is just plain negligence. It is just like many employers don’t want doing tax forms.
Speak to the person responsible for your payroll if you did not receive your W2 forms and ask for data. 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.
It is time to put things in your hands. By requesting figures from your payroll or trying to figure it out yourself. When you file your tax returns, you will then have to accompany your tax returns with form 4825.
You can still accomplish your tax returns if you seek the help of a tax professional who can make research on your wages and tax and help you file your tax returns properly. 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. With a tax professional, you will have more accurate figures on your tax form. As early as today, ensure that your company is doing something about your W2 forms.