Understanding Form W-2, Wage and Tax Statement Form W-2 reports wages earned and taxes paid
By William Perez, About.com Guide
You will need to report all wages you earned from your job or jobs during the year. Your employers are required to provide you with Form W-2, Wage and Tax Statement. Form W-2 must be mailed out or hand-delivered to you no later than January 31st.
- Gather all your W-2 statements from each job you worked during the year.
- Look in Box 1 of the W-2. This is your total wages. Using a calculator, add up the Box 1 amounts from every W2.
- Put the total figure on Form 1040 Line 7, Form 1040A Line 7, or Form 1040EZ Line 1.
What if I Haven't Received My W-2?
If you have not received your Form W-2 by mid-February, then ask your employer if they mailed out the Form W-2. Ask for a copy of your Form W2.Sometimes, employers will charge a nominal fee for providing you with an additional copy of your W-2. This is to prevent situations where employees simply lose or forget where they put their Form W2.
Some Information on My W-2 is Wrong. How Do I Correct It?
You should ask your employer to correct any wrong information on your Form W-2. Examples of wrong information would be an incorrect Social Security Number, incorrect name, or incorrect wages. According to the IRS Instructions for Form W-2,Corrections. If your name, SSN, or address is incorrect, correct Copies B, C, and 2 and ask your employer to correct your employment record. Be sure to ask the employer to file Form W-2c, Corrected Wage and Tax Statement, with the Social Security Administration (SSA) to correct any name, SSN, or money amount error reported to the SSA on Form W-2. If your name and SSN are correct but are not the same as shown on your social security card, you should ask for a new card at any SSA office or call 1-800-772-1213.
What if My Employer Refuses to Give Me My Form W-2?
This happens very rarely. If the company is still in existence, you should politely demand a copy of your Form W-2. If the company charges a nominal fee for processing your request, it might be easier just to pay the fee and get your tax documents.If your employer still refuses to give you Form W-2, call the IRS at 1-800-829-1040. The IRS advises that you should have the following information ready:
- The employer's name and complete address, including zip code, the employer's identification number (if known), and telephone number,
- Your name and address, including zip code, Social Security number, and telephone number; and
- An estimate of the wages you earned, the federal income tax withheld, and the dates you began and ended employment. (From Missing Your Form W-2?)
What Do All Those Boxes and Codes on my Form W-2 Mean?
I'll show you how to read your Form W-2 like an expert: Form W2 - Boxes, Codes, and Instructions.More information about Form W-2:
