Do You Need Your W2 To File Your Taxes – A W-2 is a tax form your employer must fill out at the beginning of each year to report how much you earned the previous year and how much tax you withheld.
Employers fill out a W-2 form for each employee each year and mail it to:
Do You Need Your W2 To File Your Taxes
W-2 forms are standardized, so no matter where you work, you can always expect the same. Each box contains the information provided, including:
When Can File Your Taxes?
Don’t confuse the W-2 you receive with another IRS form known as a W-4. You need to fill out this paper when you start working, not for your tax return.
Tells your employer how much tax to withhold (based on factors such as the number of children you have and whether you are married)
For the most part, W-2s can be less of a headache than other forms of taxes. But there are still some small details that are important to know:
Every year, your employer reports your wages and taxes withheld on a W-2 form. This information comes to you with the IRS, state and local governments, and the Social Security Administration. You use it to file your taxes, while governments use it to make sure you’ve paid what you owe and check if you need a refund. The W-2 is the primary tax form for most working Americans. Here’s what you need to know about it.
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Peter is a writer and editor for the How-To team. He has been involved in technology, software, finance, sports and video games since working at @Home Network and Excite in the 1990s. Peter managed Download.com’s reviews and listings in the 2000s and is passionate about software and providing insightful advice to creators, consumers and investors.
Dan is a writer on the How-To team. His author has appeared in The New York Times, Newsweek, NBC News, Architectural Digest and elsewhere. He is a crossword addict and interested in the intersection of technology and marginalized communities.
The W-2 form is the most common IRS tax form for most Americans. It is also one of the most critical, showing your total employment income for the previous year as well as the amount of taxes withheld.
This story is part of Taxes 2023, which covers the best tax software, tax tips and everything else you need to file your return and track your refund.
W2 Exempt Eligibility And Filing
Most full-time workers must receive a W-2 from their employer before they can begin filing returns, and companies had until January 31, 2023 to issue them.
The W-2 form or “Wage and Tax Statement” is the official record of the previous year’s wages and taxes withheld.
Whether you file your taxes on paper, computer, or over the phone, or file with a professional tax preparer, you’ll need to use the information on your W-2 form to complete your return.
Although it still appears on the W-2 form, the IRS no longer uses Box 9. IRS/Screenshot: Peter Butler/
My Old Job Sent Me A W2 A Year Late For The Jewelry They Gifted Us For “employee Appreciation”. It Was Just Old, Discontinued Styles With Leftover Stock That Would Cost More
Box A-F: The lettered boxes at the top and left of the document contain identifying information for both you and your employer, including legal name, address, your social security number, and your employer’s tax identification number. (A “control number” is just a unique identifier that identifies the W-2 in the employer’s system.)
Boxes 1 and 2: These two boxes contain the most important information for most taxpayers—your total wages, tips, and other compensation, and the total federal income tax withheld for the year.
3–6. column: These fields show how much of your income is subject to Social Security and Medicare taxes, and how much tax you paid on both.
Lines 7 and 8: If you receive compensation in the form of tips, these two lines show how much you reported in tips and how much your employer reported in tips paid to you.
Form W 2
Box 9: Don’t worry about the mysteriously grayed out box 9. Previously used to report advance payments of the Earned Income Credit. This tax credit expired in 2010, but the box remains.
Box 10 and 11: Box 10 contains any dependent care benefits, while Box 11 contains any deferred compensation.
Box 12: This box contains additional compensation or tax credits and there are 28 possible items, each marked with a one- or two-letter code. Some of these codes are required to be entered on your tax return, while others are for information only.
Box 13: Here, three options show income that is not subject to federal tax: an employer-sponsored retirement plan (such as a 401(k) account), third-party sick pay (such as private insurance), or income earned as a legitimate employee money.
W 2 Form
Box 14: This box is a catch-all for your employer to report additional tax information such as tuition assistance or union dues. Employers may also include certain state and local taxes.
One common entry in Box 14 is a payment of State Disability Insurance, which is deductible for some taxpayers.
15–20. box: The boxes at the bottom of the W-2 form show your income and withholding information for the tax year that apply to state taxes. This section also contains the state identification number of the employer.
You should have received your W-2 form by January 31, 2023. By law, that’s when employers must send W-2 forms to all employees and the IRS.
W 2 Form (wage And Tax Statement): What It Is, How It Works
Although many companies still send W-2 forms by mail, many also make them available online. The W-2 form may come from a third party that handles your company’s payroll, such as ADP or Gusto.
Make sure your employer hasn’t emailed you instructions on how to access your W-2 form online. According to IRS Publication 15A, employers may provide electronic versions of W-2 forms if employees agree. (Be sure to check your spam and junk folders in case the email ended up there.)
If you did not receive the instructions, contact Human Resources or Payroll to inquire about the status of your W-2. You can also contact them if you have lost the W-2 you received.
If your employer is not helpful, contact the IRS directly at 800-829-1040. The agency will contact your employer and request the missing W-2 form.
How To Prepare W 2 Wage And Tax Statements
The IRS recommends that you wait until the end of February to see if your W-2 arrives before contacting them. To verify your identity, you need to have some information ready:
If you still don’t receive or can’t access your W-2 form by April 18, you can file your tax return using Form 4852, which is a W-2 substitute that allows you to estimate earnings and withholding tax. If you later find out that the information on your return is different from your W-2, you must file an amended return.
You can also file Form 4868 and request a six-month filing extension, which gives you more time to track down your W-2. If you think you don’t owe any tax, you don’t have to pay anything. If you owe taxes, you must pay an estimated amount when you file your extension or risk penalties later. As you prepare to file your taxes and try to get all your paperwork in order this year, a missing form may have you wondering if you can take some shortcuts? Maybe you lost your W-2, or maybe it never showed up. Can you still file your taxes or will you be in legal jeopardy?
It’s technically possible to file a legal tax return without a W-2 if you file electronically, but you’ll need the information on the W-2 to pay your taxes correctly. This includes:
Quickbooks W2 Tax Forms Copy 1 D For Employers
If you file electronically, you don’t need to submit a copy of the W-2 itself, just provide the information from it. However, we recommend that you keep your W-2 in a safe place in case you need to produce it in the future, such as during an audit or for other purposes, such as a background check.
Remember that your employer should have submitted a W-2 form to the Social Security Administration (SSA) by the end of January, and the SSA will share this information with the Internal Revenue Service (IRS). So if the numbers you provided are different from what your employer reported, you may have an audit on your hands.
In the event of an audit, you will need to provide documents (such as a W-2) that prove your income and withholding tax. In such a case, you may face legal difficulties if you cannot prove that the numbers provided were in good faith.
The best place to find accurate numbers about earnings and withholding taxes outside of the W-2 form is the last pay stub of the year. If you don’t have it handy, you can look it up online through your employer or get a copy from your company’s human resources office. Getting the numbers is the best way to make sure your details are accurate and consistent with what your employer has provided
What Is Form W 2? An Employer’s Guide To The W 2 Tax Form
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