January 31st is the deadline for employers to mail out W-2’s to their employees. A copy of your W-2s will also be sent to the IRS.
In the past year there were a lot of tax law changes. So, when you receive your W-2’s in the mail, one of the first things you should do is check to make sure the information on the form is correct. You need to confirm that your employer completed the W-2s with the correct names, wages, and withholdings, etc.
You should receive a copy of your W-2s for your Federal and State tax return as well as a copy for your own records. If you find incorrect information on your W-2s, contact your employer as soon as possible and ask for a corrected W-2 form. If you find an error after you have filed your tax return, you can file an amendment.
If you do not receive your W-2’s from each job you have worked, you should contact your employer as soon as possible and have them send your W-2s. If you have not received your W-2s by February 14th, you may also contact the IRS directly at 1-800-829-1040. If you give them all the necessary information, you may be able to get a copy of the forms sent to them by your employer. You may also be able to get your W-2s online with the assistance of an authorized IRS e-file provider. You will need to provide certain information such as:
* Your Social Security number.
* Your employer’s full name, address, and phone number.
* Dates of your employment.
* An estimate of income earned and federal tax withheld.
FYI: This information can be found on your pay stub in the “year-to-date” information.
If necessary, you can file for an extension to file your tax return. However, this is not an extension to pay taxes owed by you. If you don't pay taxes owed by the April 15th deadline, you will face hefty penalties and late fees.
At Summit CPA we offer multiple resources to assist you with all of your tax and financial planning needs. Contact our office at 866-497-9761 to schedule an appointment with our advisors.