Tax seasons are not liked by many people when they arrive. Even if paying taxes is a like burden, they are one of the things we need in the society we are living in today. Your former employers are the ones who provide a W-2 form, but the ways of getting it are not known by many people. The W-2 form is the one that is called a wage and tax statement. 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.
It is important to have this form because your earnings will be determined by it. A W-2 form also shows all the amount you contributed to your retirement plan also. If you made any deductions like health insurance, it would be stated in your W-2 form also. You will be contacted by IRS if you fail to ask for your W-2. Sometimes you may fail to download your W-2 form, and if such a case happens, IRS will penalize you are they ask you to pay hefty fees. Employers are required to send the W-2 forms to their employee and government by the end of the first month of every year. Employers are penalized if they do not send the forms. Learn more about taxes at https://www.huffingtonpost.com/topic/tax-refunds.
If you would like to detect the mistakes in your W-2 form, you should thoroughly scan it. Your form may have some errors which are made by your employers, and that’s the reason as to why you should scan it. Wrong names or addresses are examples of the errors that your W-2 form will have when you receive it. If your W-2 form has a mistake, you should call your employer and notify them about the errors. Correcting errors will take some time, and so, you should be patient because it is important. Such errors that your W-2 form has will be corrected by theme because they would not like to be penalized by IRS. Be sure to view here for more details!
If you need the W-2 form, you should call your former employer if you recently moved to another job. You should provide them with the correct address when you request your W-2 form from them. If there were an HR representative, you would not reach out your previous boss directly. You should not find it challenging if such a case happens on you. They are aware of the penalties they will receive when they fail to provide you with the form, and due to this, you should be firm with your request. Be sure to click here for more info!