There are around 157 million people in the United States in some form of employment.
A large majority of these will have to fill out and file a W2 form. This is the document that details your tax liability and the different exemptions you have in relation to your taxes.
You are legally required to submit your W2 form when doing tax returns. Therefore, if you haven’t received yours from your employer (or you’ve just lost your form) there are certain steps you’ll need to take.
Read on to learn more about what to do if you’re in this situation.
What Is a W2 Form?
The IRS W2 form is a document that details the tax liability of employed individuals. It will record your income, the deductions that you must pay, your exemptions, and your personal details.
The Internal Revenue Service (IRS) is the body that organizes everything to do with taxes in the United States. It is therefore the agency in charge of producing and distributing W2 forms.
If deadline day is approaching and you can’t find your form or get a response from your employer, it might be a good idea to contact the IRS. You will need to provide them with your name, address, social security number, and employment details. They can then issue a substitute form, and they may even reprimand your employer for failing to provide you with one.
Depending on how close you are to the relevant filing deadline, the easiest course of action might be to contact your employer. They’ll be able to issue you with a new W2.
Many employers now keep their W2 forms online. If your workplace has an online portal that stores these kinds of documents, you might be able to simply download the form and print it out at home.
If you’re an employer, you’re probably used to regular requests for W2 forms. Producing documents like this, especially if you’re in charge of a large workforce, can be a very draining process, both in terms of your time and energy.
Using a w2 generator is a great way to expedite this process, saving you money and freeing up your schedule.
Staying on Top of Your W2 Form Obligations
Filing tax returns is a cumbersome business at the best of times. Losing your W2 form, or never receiving it in the first place, isn’t going to make anything any easier for you.
However, if you do find yourself in this situation, the steps above should help you to avoid getting into trouble. Just make sure you take action long enough in advance of deadline day and everything will be fine.
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