A lot of people hate it when tax season comes. Even if paying taxes is a like burden, they are one of the things we need in the society we are living in today. How to get a W-2 form from previous employers is not known by many people. Your wage and tax statement are the one that is called W-2 form. All the compensations you received from your previous employer every year are stated in your W-2 form. This form is received at the beginning of every year. Employers are needed to provide their employees with a W-2 form. Whether you will receive a tax refund or whether you owe taxes will be known if only you will receive a W-2 form which is why it is important.
This form is the one that determines your earnings, and that’s why it is essential to have it. All the amount you contributed to your retirement plan also will be shown by your W-2 form. If you made any deductions like health insurance, it would be stated in your W-2 form also. If you do not look for your W-2 form, IRS will contact you. You will have to receive some penalties of hefty fees when they call you because you failed to download your W-2 form. Employers are required to send the W-2 forms to their employee and government by the end of the first month of every year. If they do not send them, they get penalized. Make sure to check it out!
When you receive your W-2 form, you should thoroughly scan it to detect errors. Your employers may have made an error on your form, and that’s why you should scan it. When you receive your W-2 form, it may have some errors such as wrong names and addresses. If your W-2 form has a mistake, you should call your employer and notify them about the errors. It is important to do that even if it will take some time to fix the errors. They will have to correct such errors in your W-2 form to avoid being penalized by IRS. Be sure to see more here!
You should call your previous employers if you need the W-2 form if you recently moved to another job. The correct address should be sent to your previous employers if you will request them to send you a W-2. If there were an HR representative, you would not reach out your previous boss directly. A lot of people get stressed up when such cases occur on them. When they fail to provide you with the form they will be penalized, and due to this, you should be firm with your request. Get more facts about taxes at https://www.huffingtonpost.com/entry/jct-tax-reform-bill_us_5a00b5a3e4b0baea2633fbf5.