Resources – My Most Valuable Advice
Why You Should Get Your W-2 Form from Your Previous Employer
As people try to earn a living, they switch careers as they search for greener pastures. It is crucial for an individual to get the form in time to file his or her tax return and avoid violating the rules. The report provides information regarding your year and indicates if the employer has been deducting the right amount form your wages or salary. At times you can request a refund, or you can end up paying more to the IRS.
It is essential for an employee to refer to the form when filing returns. It shows your retirement benefits and whether the employer has been a contribution to your health insurance cover. It gives the figures surrounding your gains and makes it easier to calculate your taxes. Unlike those who have their jobs and they are not confident in paying a particular amount of tax, the document gives your yearly wages, and the employer has to abide by the rules.
Hence, you should be careful to collect the report at the right time; it does not matter if you are shifting your job at the moment, you should make an effort. The following are some of the steps you can take and get the document and meet the deadlines.
Take Your Time to Call the Administration
Each institution has measures in place to take care of employee’s remunerations and other benefits, you should check with the department. You can inform the individuals of your intentions by calling them or even email them. Make sure that your addresses are correct before asking them to send the form to you. Follow the entire process to get your document on time. By visiting the office, there are no chances the records can get to the wrong address, and if there are any challenges, you can always consult with the management and resolve it quickly.
If you cannot access your employer, you can call the IRS and inquire from them. They can help you by calling the responsible individual. You should present an identification that shows the last employer. The IRS will proceed to inform the employer of their obligations.
Use Other Channels
If you do not have the luxury of time, it is wise to check for other channels to ensure you follow the laws. You can visit IRS site and follow other procedures to submit your tax returns.
The Advantages of Having a W-2 Form
It proves that your employer has been paying up taxes and deducting other funds to cover your insurance or retirement plan. You can use it to fill your tax returns and escape penalties from the state.