How long to get w 2

If you are an employee of a company and will receive a W-2 for your income taxes, it will be sent to you automatically each year by your employer. Your employer will also submit a copy of your W-2 with the IRS.

The information provided on Form W-4 or sometimes Form W-9 when you are first hired provides the information your company needs to keep track of payroll, tax withholding, employer-provided benefits, and pre-tax contributions to things like a k retirement plan.

The W-4 form tells the employer the amount of tax to withhold from an employee's paycheck based on the person's marital status, number of allowances and dependents, and other factors. When you prepare your income taxes, you will need to input the data found on your W-2 into a Form individual tax return, either by hand or electronically. Online tax preparation software now allows you to directly import the information on your W-2 from your payroll provider in many cases.

Every W-2 has the same fields, no matter the employer. W-2 forms are divided into state and federal sections since employees must file taxes on both levels. The remaining fields are mostly details of the employee's income from the previous year.

The employee's total earnings from the employer for the year are recorded, along with the amount withheld in taxes from the employee's paychecks, separated into the withholding for federal income tax, Social Security tax, and more.

If the employee also works for tips, a field shows how much money in tips the employee earned for the year. If you work multiple jobs that provide W-2s, you need to input each separately. When the employee files taxes, the amount of tax withheld according to the W-2 form is deducted from their gross tax obligation.

If more tax was withheld than the employee owes, a refund will be issued. However, taxpayers are required to report all salary, wage, and tip income even if that income is not reported on a W W-2 forms include both numbered and lettered boxes that an employer must fill out and reflects how much you earned and taxes withheld.

The lettered boxes on a W-2 include the name and address of you and your employer, your Social Security number, and your employer's EIN and state ID number. Box 1 shows your taxable income, including wages, salary, tips, and bonuses, while Box 2 shows how much federal income tax your employer withheld from your pay. Box 3 details how much of your earnings were subject to Social Security tax and Box 4 the amount of Social Security tax that was withheld. Box 5 spells out how much of your pay is subject to Medicare tax and Box 6 how much was withheld.

The employee portion of the Medicare tax is 1. If part of your pay is in the form of tips, these boxes show how much you reported in tips Box 7 and how much your employer reported in tips it paid to you Box 8.

This box was used to reflect a now-defunct tax perk, so it is left empty. Box 10 reports how much you received from your employer in dependent care benefits if applicable. This box details how much deferred compensation you received from the employer in a non-qualified plan. Box 12 details other types of compensation or reductions from your taxable income and a single or double letter code that corresponds to each. It might include, for example, contributions to a k plan.

Codes are detailed in the IRS' W-2 instructions. This box has three sub boxes designed to report pay that is not subject to federal income tax withholding, if you participated in an employer-sponsored retirement plan , or if you received sick pay via a third-party, such as an insurance policy.

Box 14 allows an employer to report any other additional tax information that may not fit into the other sections of a W-2 form. A few examples are state disability insurance taxes withheld and union dues. The last six boxes on a W-2 all relate to state and local taxes, including how much of your pay is subject to these taxes and how much was withheld.

Form W-4 is completed by every employee for withholding purposes. The employer uses the information to determine how much tax to withhold from the employee's paychecks. Most employees must fill out this form when they start working for a company. This usually arrives by the end of January of the following year. Form W-2G is a tax form that a gaming facility such as a casino may send you if you received winnings from gambling in the prior year.

Students receive a E statement for any year in which they paid interest on a federal student loan. Students also receive a T statement reporting college tuition expenses that might entitle students to tax deductions or credits. Your employer is required to provide you with copies of your W-2 each year if you are eligible to receive one. The deadline for companies to provide this form is typically by the end of January or early February following the tax year that just ended.

W-2s may be sent by mail as a hard copy or made available online in electronic form, either through the employer directly or via their payroll provider. You will also receive a W-2 if you had taxes withheld earning any amount from your employer. The IRS will send your employer a letter requesting that they furnish you a corrected Form W-2 within ten days. You can use the Form in the event that your employer doesn't provide you with the corrected Form W-2 in time to file your tax return.

When you call the IRS or visit a TAC office, please have the following information available: Your employer's or payer's name and complete address including ZIP code, employer identification number if known see your prior year's Form W-2 if you worked for the same employer , phone number, and Your name, address including ZIP code, social security number, phone number, and dates of employment. Additional Information. Tax Topic — Amended Returns. What is a W-2 Form?

Important Tax Deadlines and Dates. Can't File by the Deadline? Top 3 Reasons to File a Tax Extension. Claiming the Foreign Tax Credit with Form What is the IRS Form ?

Estimate your tax refund and where you stand Get started. See if you qualify for a third stimulus check and how much you can expect Get started. Easily calculate your tax rate to make smart financial decisions Get started. Estimate your self-employment tax and eliminate any surprises Get started. Know what dependents credits and deductions you can claim Get started.

Know what tax documents you'll need upfront Get started. Learn what education credits and deductions you qualify for and claim them on your tax return Get started. The above article is intended to provide generalized financial information designed to educate a broad segment of the public; it does not give personalized tax, investment, legal, or other business and professional advice. Skip To Main Content. OVERVIEW With tax season picking up, taxpayers across the country are eagerly awaiting their W-2s so they can file their returns and claim any refunds they might be owed.

What is a W-2? It may also contain information about: Tips Contributions to a k Contributions to a health savings account Premiums your employer pays for health coverage A variety of other numbers Who receives a W-2? A big difference between the two forms is that businesses that hire independent contractors don't typically withhold federal income taxes or Social Security and Medicare taxes from the contractor's payments.

It is the responsibility of the contractor to estimate these taxes and pay them quarterly throughout the year. Step 1: Check online Many employers now issue Form W-2 electronically to employees. Once in a while, those emails get caught in your spam folder or sent to the wrong email address. Check your spam folder to see if the notice wound up there.

If your employer has an online portal where you access paycheck information, time cards, and other employment information, log into the website to see if your W-2 can be accessed there.

Even if you can't find it in your email or online, you may still be able to get it electronically. Employers not only send W-2s electronically to employees, but to the IRS as well. Step 2: Ask your employer If your online search leaves you empty-handed, contact your employer's payroll or human resources department to ask when and how they issued your W If that's the case, you can ask your employer to reissue your W-2 if you want to keep a paper file for your records. If your W-2 went missing because of a mail snafu, you can use TurboTax to retrieve a copy.