We are in the heart of tax season. With that being said, do you have everything you need to file? This time of the year can be very stressful for many individuals, but it does not have to be. Some may be feeling stressed due to the fact that they are still missing some w-2s. At SmarTax, LLC, we are here to tell you exactly what to do about your lost w2 form. We are experts in tax preparation in Pembroke Pines.
What Are You Missing in Your Tax Preparation?
Have you received all of your W-2s? These documents are essential for completing individual income tax returns, as they include the taxable amount of your wages and the amount withheld for federal and (if applicable) state income tax, along with pension plan and other information that is needed to prepare your return. Employers have until January 31st to provide or send you your W-2 earnings statement covering what you earned in the prior year, either electronically or in paper form.
What Do You Do About A Lost W2 Form?
If you have not received your W-2 in a reasonable time frame after the January 31 due date, follow these steps:
- Contact This Office – Let this office know that you are missing a W-2. If your appointment is in the near future, we will advise you whether to keep the appointment or change it to another time. Generally, when a W-2 or 1099 is missing, it is best to keep the appointment so that everything else for the return can be completed. You can then mail the missing document to the office or drop it off at a later date. That way, your return can be finished as soon as the missing form becomes available, which will speed up your refund if you are receiving one.
- Contact Your Employer – Contact your employer to inquire about if and when the W-2 was mailed. It could be that the employer, especially a former employer, may not have your current address. After contacting the employer, allow a reasonable amount of time for the employer to resend or reissue the W-2. However, if the employer does not respond to your request or has gone out of business, you have two options:
- Contact the IRS – If you still have not received your W-2 by the end of February, you can call the IRS for assistance at 800-829-1040. However, we recommend that you hold off contacting the IRS until you are certain that you will not be receiving a W-2 from the employer. If and when you do call the IRS, have the following information at hand:
- Prepare a Substitute W-2 Using Form 4852 – Contact this office about having a Form 4852 prepared. You use this option as a last resort after having exhausted your efforts to obtain a W-2 from the employer. With luck, you will have your last pay stub, which will include the information needed to prepare the 4852 accurately. If not, other means will have to be used to estimate the amounts, which may result in having to amend your return at a later date if the estimate is subsequently determined to be inaccurate.
Regardless of the option you choose, you will still have to file your tax return by the April due date or file for a six-month extension. Be aware that if you plan on making an IRA contribution and have not already done so, the extension will not extend the time available to contribute. IRA contributions must be made by the April due date of your return.
Call Us Today
We have all the information regarding income taxes for 2019 and what to do about a lost w2 form. Our tax advisor wants to ensure you have all the info for tax preparation. The professionals at SmarTax, LLC.want to ensure that you have all the information you need going into tax season this year. It is essential to be aware of all tax laws as they may affect you. For further information call or contact us today, Pembroke Pines. We offer the best tax accountants near me.